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| High-Growth Government Contractor News is published monthly by Pleasant Valley Business Solutions (PVBS) for fast-growing companies that provide services and/or sell products to the Federal Government. Submit articles to newsletter@pvbs.net.
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January 2010
703.391.0977
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Contract Administration, Cash Flow Management Governance, Controls & Compliance Covered in Current Issue
We're excited to bring you the first High-Growth Government Contractor News for 2010. Many of you have told us that you like short, crisp articles from the top service providers to government contractors, so we're going to continue to seek out high-quality, provocative articles from our partners.
This month, Tatum submitted an excellent article on three areas where government contractors must excel to be successful: Contract Administration, Cash Flow Management Governance and Internal Controls. Accounting firm Argy submitted a powerful article on how important the right compliance staff is to a government contractor. Many government contractors are considering their exit strategies; Peter King offers a nice piece on some of the details that must be thought through. Our friends at Set-Aside Alert discuss possible insourcing trends at government agencies. And we suggest that government contractors with strong employee development programs consider nominating themselves for the annual Helios HR Apollo Awards.
Here's to a great 2010 for the entire government contracting community.
Sincerely,
Bernard Mustafa
CEO, PVBS
www.pvbs.net |
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Contracts, Cash Flow, Controls: Critical Management Challenges for High-Growth Government Contractors
This is the first in a series of articles presented by the Government Contractor Practice of Tatum, LLC in the areas of Contract Administration, Cash Flow Management Governance and Internal Controls. These three competencies are vital to the success of high-growth government contractors in a unique market.
Contract Management: Many Government Contractors are completely dependent on winning federal, state and local contracts for survival and growth. Since the ultimate objective is new business, companies must allocate their bid & proposal, marketing and internal R&D budgeted funds wisely to successfully pursue multiple procurements. However, in our experience, many companies bid on everything that shows up on their radar screens, taking a shotgun approach that drains B&P funds and human resources.
In other situations, companies bid without a full understanding of the client and/or the contract requirements. Both approaches are a product of inadequate business planning, and are destined to disappoint. Since there is no reward for coming in second place, except maybe in some multiple award situations, government contractors should bid only on procurements for which a high probability of success exists. More.
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| Compliance For Profit: Hiring the Right Compliance Staff
Charlie Bonuccelli is a Principal with Argy, Wiltse & Robinson, P.C. (Argy), a full-service, independent public accounting firm. For the past 30 years, Charlie has assisted clients in dealing with a full range of federal government contract accounting and administrative issues including reviews of labor and accounting systems, internal controls over government contracts, claims and equitable adjustments, termination settlement proposals, litigation consulting, bid protests, estimating systems reviews, FAR Part 31 cost principles, Cost Accounting Standards and strategic planning.
For most companies, it is easy to understand how hiring technical staff can enhance the profitability of the company. Such staff can improve customer relations, job performance and company reputations. The same can be said for hiring rainmakers, who have marketing skills and networks that increase opportunities for new work, but for indirect staff, like compliance staff, companies often see them as a burden that add little value. The reality is that indirect staff can directly affect the performance of government contracts and can enhance profitability or hurt the bottom line.
 For a federal government contractor, compliance is not optional, it is mandatory. Companies should be looking for compliance staff to enhance contract performance and profitability. Federal contracts have a large number of complex regulations and laws that apply to them. A lack of compliance may lead to suspension or even debarment from being awarded Federal Government contracts, or worse, the civil or criminal prosecution of the company and/or staff. More.
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| Microsoft Dynamics NAV Lunch Seminars for High-Growth Government Contractors will be held on Tuesday, February 2 and Friday, February 5 at the Microsoft Technology Center in Reston. Click here for more information and to register. |
Understanding Representations and Warranties in Acquisition Agreements
Peter King is a partner in the law firm of AUSWIESNER FRITZ KING LLP. He represents domestic and international entrepreneurs in business and wealth preservation planning. He has a broad practice including mergers and acquisitions, entity planning, family business planning, wealth preservation and family probate.
In an acquisition contract there are a series of statements "representations and warranties" which typically confirm the seller has no liabilities (other than those set forth in a disclosure schedule to the acquisition agreement), the seller's financial statements are accurate, the assets are in good condition, etc. These items are  essential as they form the basis to determine the proper purchase price. While the seller and buyer may want to close quickly, these terms will likely be very important to each party in the future and thus require extensive negotiation. There is a tension between the parties' sale goals.
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Agencies to Consider Insourcing Service Contracts
This article was submitted by Warren Corbett, Business Research Services Inc. (Bethesda, MD), publishers of Set-Aside Alert. Subscription information can be found at www.setasidealert.com.
Civilian agencies will be required to create an inventory of their service contracts and evaluate whether some of the work should be insourced. The provision is part of the 2010 Consolidated Appropriation bill that has passed both houses of Congress and was awaiting President Obama's signature at press time. Section 743 of the bill requires the annual inventory and directs agencies to "evaluate whether it makes sense to bring the work performed by the contractor 'in house,'" according to a summary released by the House Appropriations Committee. More.
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Apollo Awards Offer Great Opportunity for Companies with Strong Employee Development Programs
The Helios HR Apollo Awards is the premier awards program in the Washington metropolitan region that recognizes employers who invest in employee development initiatives. The Call for Nominations opens on January 19 and will close on February 19. The Apollo Awards are offered in four categories based on organization size. Nominations are evaluated by an independent panel of judges based on an organization's support of employee development programs and their ability to communicate the overall impact of these programs. Finalists and winners will be recognized at the Apollo Awards breakfast ceremony to be held on June 3, 2010 at the Fairview Park Marriott in Falls Church, VA.
For more information on the awards including submission requirements, visit www.HeliosHR.com. |
About Microsoft Dynamics NAV for Government Contractors
Microsoft Dynamics NAV for Government Contractors from PVBS is an ERP solution that has been designed specifically for companies that provide services and/or sell products to the Federal Government. It features:
Web Based T&E, Inventory Control, Order Processing, Fulfillment, Earned Value Management, Warehouse Management, Human Resources, Financial Management, Business Intelligence, Analytics, CRM. | |
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