Working with a government contract consultant is a great way to help ensure compliance with all government regulations and standards and allow for procurement of government contracts. This guide discusses the role of a government contract consultant.
What Is A Government Contract Consultant?
A government contract consultant helps government contractors through a contract’s life cycle. Advisory services from a government contract consultant typically include strategic, financial, operational, and reputational services. They can help in a wide array of industries, including but not limited to construction, manufacturing, defense, technology, and healthcare.
What Can A Government Contract Consultant Do For My Business?
A government contract consultant advises their clients in the areas of contract procurement, accounting, risk assessment, contract processing, proposal preparation, contract closeouts, pricing strategies, equitable adjustments, FAR compliance, and more.
Business Process And Compliance
Government agencies require all contractors to have adequate accounting. Otherwise, the procurement of future contracts may become challenging. A government contract consultant offers accounting advisory services, risk assessments, and more to help ensure compliance in accounting and other key areas.
Business Systems For Accounting
Your accounting and business systems play a major role in your ability to procure contracts with the government. Errors with your accounting and business processes could lead to agencies choosing other contractors whose accounting is considered to be more “adequate.” Government contract consultants provide an edge over the competition by providing adequate accounting services.
A risk assessment in business and accounting systems refers to the analysis of events that could lead to the potential loss of a contract. Government contract consultants identify these risks as early as possible to help ensure they do not affect your rate of contract procurement.
Contract Life Cycle Support
Government contract consultants offer support throughout the entirety of a contract’s life cycle. From preparing your proposals to assisting with contract closeouts, consultants can ensure a successful life cycle by offering expert advice every step of the way.
You should have a standard process for how you receive a contract and begin your services. A government contract consultant can help you establish your contract processes. This minimizes the risk of any complications or delays.
Assistance Preparing Proposals
A request for proposal (RFP) is issued by government agencies when certain products or services are needed. Your proposal should clearly outline the work you would complete, the goods you would provide, and your prices. Government contract consultants assist with the proposal preparation stage.
There are procedures for closing out contracts with the government. It is important to follow the procedure closely to ensure that there are no errors that could affect your ability to procure contracts with the government in the future. Qualified consultants can ensure that each contract closeout is completed properly.
Government contracts should be mutually beneficial; the government should receive the necessary goods or services at a rate that provides the contractor with a fair profit. Consultants assist with the proposal pricing and strategies processes to ensure that optimal value is derived from each contract. They also can assist with equitable adjustments and claims.
Proposal Pricing and Contract Strategies
Much like working with private businesses, the government also wants to minimize their spending while maximizing the quality of goods and services they receive. To ensure that you are able to procure contracts at optimal rates, you should have a reliable pricing and contract strategy. Consultants understand government pricing and contract strategies and offer their expertise to their clients.
Equitable Adjustments and Claims
A request for an equitable adjustment (REA) is submitted when contract requirements change. In most cases, the request is to increase the price of the contract to compensate for the additional time and resources that the contractor spends on a contract. Government contract consultants understand how to handle the equitable adjustment and claims processes professionally.
FAR And Government Regulations
Federal Acquisition Regulation (FAR) and Cost Accounting Standards (CAS) are important to understand for optimal compliance. A government contract consultant assists and advises clients on all aspects of FAR, CAS, and other relevant regulatory compliance.
Compliance with FAR, CAS, and other important government regulations and standards are of the utmost importance to ensure that you are eligible for future government contracts and to pass any audits issued by government contract agencies. Government contract consultants understand compliance requirements and offer advisory services to help ensure that clients are not at risk of a failed audit.
Every government contractor could receive an audit to assess their compliance with government contracting requirements. Government contract consultants offer audit support if a client is audited by the Defense Contract Audit Agency (DCAA) or another government entity.