Software

A Case Study on Selecting Contract Management Software

As a complete fitness, protection, and environmental offerings firm, Apex Environmental makes a specialty of consulting and remediation work. The company’s professional, technical, and area experts are located in 10 workplaces across 25 states, and services consist of compliance, environmental assessments, remediation, fitness and safety, software control, electricity management, and information technology.

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All clients, of the path, require careful monitoring, reporting, and invoicing of real hard work and direct venture expenses. The enterprise’s government customers, however, additionally call for strict adherence to a bunch of necessities as defined through CAS, FAR and DCAA. In operating with their authorities contracts, Apex staff members must meticulously account for allowable overhead rate (that may vary appreciably from agreement to settlement); they should observe strict tips for time and price access; and that they ought to report venture direct and overhead charges on pre-accredited government bureaucracy.

In addition to being an environmental consultancy, sincerely charging costs for expert offerings, Apex also has a $6 million construction division that plays actual remediation paintings inside the subject. In support of this department, Apex staff ought to also take care of production-associated activities — producing purchase orders, managing subcontractors, and hiring and paying production employees.

 

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Apex Environmental has attempted to address this complicated mix of statistics monitoring and reporting requirements in a ramification of methods over the years. During its first few years in commercial enterprise, the company used a manual report-preserving system. Quickly outgrowing the manual system, employer leaders bought a simple accounting application with a purpose to automate the operation. That software controlled the financial aspects of the business, but it presented no support for the governmental reporting necessities.

Thinking they had observed the answer, Apex bought an accounting device designed specifically for government contractors. While this application did a higher process of dealing with information wanted for authorities reporting, its challenge control and trendy reporting skills had been vulnerable. In an attempt to make up for the lack of capability in the accounting software, office employees used numerous spreadsheet and word processing programs to generate reviews and other files in the codecs they wished. As an end result, the body of workers individuals was constantly re-coming into records from the accounting gadget into these supplementary programs – a time-ingesting and irritating duplication of the attempt.

“We didn’t need a different software program for exclusive types of paintings,” explains Winston. “The software we had been seeking out had to have the ability to do everything we needed it to do on each personal and government-area work.”

Cost became every other attention. Apex leaders desired a gadget that might meet all modern-day wishes, increase its capacity to meet future needs, and nonetheless sell for an affordable price. The employer actually did no longer want to spend $a hundred,000 for a software gadget, even one that could handle their wishes.

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After extensive investigation and product comparisons, Apex Environmental selection-makers selected a business gadget from Wind2 Software that fully integrates well-known accounting functions with challenge invoicing and reporting price range control, profit analysis, worker control, value idea development, bills receivable tracking, and authorities settlement control. The system is bendy enough to handle the agency’s blend of customers and sports nowadays, and its scalability makes it able to do greater as the employer grows.

“We needed a software that would let us focus on being a clever business first, even as nonetheless handling our government contract particular needs absolutely,” says Winston. “Wind2 enables us to successfully cope with all of the requirements of our federal, state and nearby authorities tasks, without sacrificing properly, strong and easy commercial enterprise practices. That flexibility is truly what makes this software so nicely desirable to an organization like ours that has such a lot of distinctive activities and a combination of government and private region paintings.”

Like all government contractors, Apex Environmental ought to follow all government accounting requirements (e.G., FAR, CAS, Incurred Cost proposals, DCAA steering) and put together for government audits. According to Winston, the corporation is saving loads of man-hours every month with the aid of eliminating the use of spreadsheets and easy accounting software to satisfy the stringent audit and reporting requirements of their authorities contracts. These sources at the moment are freed to help ongoing paintings and to land new contracts.

Apex’s new software is absolutely geared up to satisfy the 17 agreement and billing kinds described by DCAA, such as constant price, fee-plus, and time and substances. It addresses “Other Transaction Authority” (OTA) contracts and handles timekeeping practices, direct and indirect charges, overhead and G&A quotes, unallowable costs, pre-award charges, incurred value proposals and invoicing properly.

Within two months of installing the new software, Apex becomes able to lessen its accounts payable workforce thru attrition from six humans to five. Staff individuals do not want to manually calculate expense charges or input facts into two systems to put together reviews. And they’ve immediate get admission to monetary and undertaking statistics that have been unavailable to them in the beyond.

Winston explains it this way: “When a supplier calls asking about a price, the body of workers members can now question the database to discover the answer. Instead of searching through old difficult copy reports and documents, we really locate the vendor document and drill down into the database to look all of the related invoices and payments.”

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According to Winston, Apex Environmental now has the gadget it wishes to deal with its complex spectrum of presidency and private zone paintings. And organization leaders know that as their commercial enterprise maintains to develop and evolve, the Wind2 system’s inherent flexibility and scalability will let them amplify its capability in any path they chose to move.