Summers, especially in Washington DC, can be a slow and quiet as many government employees leave town. This makes Summer the perfect time to accomplish those important tasks contractors normally don’t have time for.
Here are Aronson’s Top 10 Trending GovCon Summer Activities:
- Optimize your cost structure, the “what if” budgeting of indirect rates
- Complete and submit outstanding incurred cost submissions
- Calculate and strategize over/under billings
- Closing-out prime contracts and subcontracts
- Draft bonus and timekeeping policies and procedures
- Review of executive compensation
- Developing or reviewing and updating subcontract, purchase order, consulting agreement, non-disclosure agreement and teaming agreement templates
- Drafting accounting, estimating or purchasing policies and procedures
- Reviewing existing business systems for compliance
- Customized internal training
These, and others like them, are tasks that often get “kicked down the road” because, though important, they are not urgent compared to most of the everyday challenges faced by government contractors. Many contractors never do get around to performing these tasks until they become urgent and are accomplished in a crisis-mitigation mode. Ideally, growing contractors will use the summer down-time to enhance and modernize their corporate functions and processes to align with their increasing size and similarly increasing compliance requirements. Don’t miss this chance to make an investment in the future and put yourself in a better competitive and strategic position.