Achieve compliance for government contracting
In recent years, regulatory requirements, especially in regard to financial management, as well as industry quality standards have brought greater complexity to many professional services companies, especially those that engage in government contracting. Successful government contractors typically function at the high level of nimbleness required to weather change in the regulatory and business climate, and win more profitable contracts. The largest government contracting enterprises often find it easier than smaller companies to respond effectively to changes affecting them.
Modern technology enables large as well as smaller government contractors to refine their processes and systems to be compliant, agile, and competitive. They can take advantage of the same tools to broaden their portfolio of products and services, or enter additional markets. Clients expect professional services companies to be responsive anytime, anywhere, and to provide excellent visibility into service milestones, project progress, and compliance. Often, they also look for innovation in form of new, valuable service offerings or tangible evidence of continuous improvement of a vendor’s service quality or cost-efficiency. Such technologies as mobility, business analytics, and the cloud become very important as professional services companies look to become more valuable and competitive.
While no doubt the foundation for government contracting software solutions should be compliance, it should not be the only consideration. At great cost, some government contractors deploy separate business management systems to run their government and commercial activities. That gives them the ability to apply different rules and build best-fit workflows, but their visibility and planning capability can become so poor that they create new risks to their profitability and competitiveness. Such an approach makes it difficult to take on a strategic approach and to put the right plans in place.