Should You Outsource the Management of
Your Government Contract?
As with many questions like this, it depends. While some businesses have the resources, expertise and processes already in place, others find the activities and expertise needed to adequately manage their contracts difficult and overwhelming. So, where does your business fall? While not exhaustive, here are several questions you may want to ask yourself to see how prepared your business is to manage your new contract:
- Does your business have adequate resources available to perform the necessary activities?
- If not, do you have adequate budget to hire the staff necessary?
- Do you know all the reports that need to be filed and contract requirements you will need to fulfill?
- Do you have contract management processes and procedures in place? If not, what will it take to complete them?
- Do you have software that help manage and automate your contract management activities?
- Do you have the proper oversight to ensure that the business is always in compliance with your contract?
If the answer to some or all the questions above is no, then you might want to consider outsourcing these activities to a firm that specializes within this area. Many professional proposal firms for example, will make sure that the contract requirements are being met, create and submit any of the necessary reports, develop any policies and procedures not currently in place, and track any deadlines for contract extensions, sole source opportunities, and renewals. This allows you to have the time to concentrate on running your business, create a long-lasting relationship with your new customer and win more contracts!
P.S. If you would like to schedule a meeting to discuss how Innovative Growth Partners can help your clients, please email us at: email@example.com
Innovative Growth Partners has one of the most successful proposal writing teams in the Government market. Innovative Growth has an 87% success rate for the 3,500+ Government proposals written, totaling nearly $8 billion in contracts won.