Contracts are an integral part of financial, compliance, and business development processes. Effective contract management mitigates material enterprise risk, improves cash collections, and reduces wrap rates.
Based on our recent Executive Roundtable panel discussion “What Your CFOs Should Know About GovCon Contracts,” below are five crucial revelations CFOs must know:
- Data Calls Are Much More Expensive Than CFOs Think
- CFOs Are Making Decisions Based on Inaccurate Information
- Companies Are Walking Away from Acquisitions Due to Piecemeal Contract Management
- DCAA Is Documenting Contract Management Deficiencies
- Days Sales Outstanding (DSO) Is Too High
To resolve the issues outlined above, as well as streamline and standardize contract management processes and reduce costs, leaders are modernizing Contracting systems. Given the integral nature of Contracts to federal business and availability of affordable COTS software systems, Contract system modernization is in full swing.
Click here to download the free whitepaper with a more detailed explanation of the key takeaways from the panel discussion.