Although steady contract work with the Department of Defense and other federal agencies can provide a reliable income stream, the challenges and complexities of working with the government can be overwhelming for many businesses.
We find that many suppliers end up spending a disproportionate amount of time managing contracts and compliance for DoD commerce – and exposing their companies to a disproportionate amount of risk – compared to time spent dealing with their “regular” customers.
Why You Need Government Contract Management Software
Why is it so important for DoD suppliers to be using a government contract management and fulfillment solution? Because of the risk and the lack of efficiency inherent in trying to manage DoD commerce without a streamlined approach.
The government’s highly specific and stringent requirements for vendors make it all too easy to inadvertently slip up if you’re not using DoD-approved software to manage the entire process. And the results of mistakes can be significant: rejected shipments, delayed transactions, cash flow issues, even penalties from the government.
However, getting compliance right can mean more on-time and early payments, and helps you build your reputation as a vendor. As a result, it can become easier to secure renewals or open up future contract opportunities.
In addition to compliance and cash flow benefits, there are also efficiency gains to consider. Instead of managing contracts through a variety of different, disconnected government systems and internal spreadsheets, DoD commerce software allows you to use one centralized system to simplify the end-to-end contract management and fulfillment process.
6 Key Elements to Look For
When searching for government contract management software, make sure it delivers these six key attributes:
1. Comprehensive. The solution you choose should help manage every step of the process, from finding and bidding on contracts, to fulfilling orders and getting paid – even the required scanners and equipment. This is a better approach than using point solutions for different parts of the process, since that can introduce unnecessary opportunities for human error as well as risk, and does not provide a meaningful efficiency benefit compared to using the government’s various websites and systems.
2. Easy to use. Your team should be able to complete the necessary processes with just a few keystrokes. The right solution can reduce the risk of human errors by requiring you to only enter data once, and ensure you’re using the same NSNs and other nomenclature approved by the government with simple dropdown lists.
3. DoD-approved. Not all government contract management software solutions are created equal. It’s important to work with a solution that has the necessary integrations into government systems to ensure data is transferred back and forth with speed and accuracy. Read more about the benefits of using government contract management software approved by the DoD.
4. Streamlines the process. There’s no point using a tool to unify your contract management and fulfillment processes unless it saves you time. Time savings free you up to focus on the core elements of your business, and enable you to fulfill even more DoD contracts in the future to grow your business.
5. Ensures 100% compliance. We’ve already mentioned the risks of non-compliance with all the standards and requirements that come along with government commerce. Look for solutions that offer strong compliance management capabilities to protect your business – and give you peace of mind.
6. Offers support and training. Beyond the software itself, the business partner you choose should provide training, ongoing support, process and compliance advice, and updates on the latest rule changes.
Finding the Right Solution for Your Business
As a leading provider of solutions for DoD commerce, Odyssey’s software and expertise are highly specialized in this field to deliver the best possible efficiency gains and compliance for your business.
See how government suppliers heart&core and Kessler Soils Engineering ensure compliant, efficient government contract management processes and drive increased cash flow using Odyssey’s DoD-approved software.