Government contracting is a team sport. Many companies come together to pursue an opportunity because it gives them the best chance to win. In some cases, the contract requires certain expertise that only a subcontractor possesses. The decision to have the right subcontractor as a part of the team can affect project performance, pricing strategy, and overall customer service.
Managing a team of subcontractors can be challenging requiring accurate records, and fulfillment of contractual obligations by connecting all the dots between the prime and those subcontractors. Deltek’s Costpoint Subcontractor Management solution has made this critical task easy.
Currently, some organizations must introduce a series of workarounds to accommodate their needs for subcontractor management. They are usually multiple steps for setup and processes, presenting many challenges.
The new solution integrates T&E, Purchase Orders, and Project Workforce and enables companies to process more accurately, and with less administrative overhead. By using T&E with PO vouchers, subcontract labor can be billed and reconciled much faster.
The Costpoint Subcontractor Management solution benefits both the prime contractor and subcontractors. It promotes better communications between the prime and the subcontractors and enhances the collaboration to deliver the project together as a team. It enables better management of subcontractors’ time submittals and approval and invoices/billings, while improving cash flows and more.
Key Features of Costpoint Subcontractor Management solution are as follows:
• New purchase order type to track subcontractor agreements
• Link work assignments to subcontractor agreements for more financial control
• Flexible approvals of subcontractors
• Configurable charging rules to reduce labor corrections
• Include SOW’s on your purchase orders
• Easily produce detailed subcontractor invoices
• Automatically relieve purchase order commitments
• Integrated with Costpoint, Time & Procurement
• Mobile time entry for subcontractors
For more information about Costpoint Subcontract Management, please contact Kris Fitzgerald at firstname.lastname@example.org or at 703.885-8167.