When it comes to making an investment decision in software and other tools, the C-level executives, especially the CFO, want to clearly understand return on investment (ROI). Demonstrating lost productivity by tracking hours spent on tasks that can easily be automated is a key step.
Below is a redacted sample provided by one firm.
Most leading contracts executives suggest that the CFO review internal audit and risk reports to ensure that contractual compliance risks are indeed properly understood by the organization. Typical deficiencies include lack of evidence in following policies and procedures, inaccurate flow-downs, and missing documentation.
Government contracting is complex, funding is tight, and the stakes are high. Firms that will survive and thrive will escape the pitfalls of the bureaucratic government maze by using advanced contract lifecycle management practices and tools. By using contract lifecycle management and tools, mature firms reap near-term and long-term financial benefits and mitigate enterprise risks.