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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. Contact PVBS at sales@pvbs.net.
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In this Month’s Newsletter
Welcome to the March issue of “High-Growth Government Contractor News.” Many of the government contractors we have worked with over the years had just reached critical inflection points in their company’s history when they decided to move to Dynamics NAV. When they start out, they might deploy an entry-level accounting solution, such as QuickBooks, that does basic accounting. After they win some substantial contracts and are ready to take their company to the next level, they need a more comprehensive solution that ensures DCAA compliance and offers deeper reporting, business intelligence, and integration.
Many of our partners say that the same thing happens with them and the government contractors they support. They get by for the first few years with barebones insurance and tax accounting services, for example. After employees are hired, new offices opened, and wide-ranging projects deployed, the company needs to enable higher-quality professional services to help it get to the next level.
In the articles below, three of our partners, Tatum (financial services consulting), Rutherfoord (insurance), and TriNet (human resources) give some good advice on things government contractors should be thinking about as they experience this type of growth.
Sincerely,
Bernard Mustafa
CEO, PVBS
www.pvbs.net |
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 Strategies for Critical Government Contractor Cash Flow Management
This is the second in a series of articles presented by the Government Contractor Practice of Tatum, LLC for “High-Growth Government Contractor News” designed to offer real-world strategies for mastering these three competencies. Helping companies overcome critical challenges begins by identifying key issues, describing why they are important, and offering solutions based on experience. These are key steps towards successful growth.
The importance of optimizing cash flow, especially for high growth government contractors, cannot be overstated. Yet many otherwise savvy companies do not employ effective and well-defined processes to ensure that adequate cash will be available to finance growth. Managing cash flow and cash flow budgeting in pursuit of specific growth strategies should receive rigorous attention and always be among management’s top priorities.
Whatever your goals, clear definition of key performance elements will enhance your ability to achieve them. A good way to begin evaluating strategies is to compare established methods for measuring the financial capacity of a company to grow and to achieve its goals—very often represented by measures of cash flow. More (PDF). |
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 Top 5 HR Compliance Concerns for Small Government Contractors
TriNet (www.trinet.com) is a San Francisco-Bay Area based provider of HR outsourcing and consulting services to small and medium-sized companies throughout the United States and Canada.
As the economic horizon continues to shift and belts tighten, small and medium-sized companies—(including government contractors) who typically have between 10 to 500 employees and represent 99.7 percent of all employer firms according to the U.S. Small Business Administration (SBA)—may wind up being so focused on core business issues that they overlook one of their most potentially serious and costly issues—human resource compliance. Unlike their large-company counterparts, they lack the time and resources to build infrastructure and processes that are beyond core business objectives. But if entrepreneurs and smaller business owners are focused solely on growth and product, how do they know what issues to look for in order to protect the company?
Let’s look at the Top 5 HR Compliance Issues that they may face.
1. Exposure to Workplace Litigation Not Being Addressed: According to the Equal Employment Opportunity Commission (EEOC), race and sexual discrimination are the first and second most prevalent forms of workplace discrimination. But few businesses provide training regarding racial and sexual harassment, which opens the door to wrongful termination when employees leave their jobs. More (PDF). |
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 Employment Practices Liability: Essential to a Dynamic Business
John Sweeney is a partner with Thomas Rutherfoord, Inc, a full service risk management consulting and insurance brokerage firm. John’s expertise in complex Property & Casualty issues for government contracting, contracting, real estate, and technology firms is recognized in the industry.
Remember when it was only the five of you? You had a few set aside contracts and a little seed money. That was only a few years ago. Now success has gained traction. You’ve got over 150 or more employees, managers and supervisors and continuing to grow. Complexity has replaced simplicity, and the Risk Management aspect of Human Resources has become a full time necessity.
Considering literally dozens of Federal, State and local laws and ordinances governing the employment relationship to comply with, and the necessary speed to staff your growing business (or conversely a reduction in force), Employment Practices Liability is a critical component of your insurance portfolio. In fact, in today’s economic environment employers are seeing increasing legal obligations in managing their workforces. In addition, recent large and highly visible verdicts and judgments have encouraged suits from those who “feel” they have been unfairly treated in employment actions. More. |
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