CONTRACT CLOSEOUTS
CASH IS KING $$$$$
THE PROBLEM:
- Companies have significant amounts of potential cash tied up with unbilled receivables, the majority of which are related to final billing adjustments and withholds on Cost Reimbursement contracts that need to be closed out and final billed.
- Tightening of financial credit market requires companies to better manage cash assets.
- Companies are not dedicating internal resources to close out contracts.
- Shortfall in staffing contracts departments
- Mergers and Acquisitions have significant impact on your ability to Closeout Contracts.
- The time lag between contract completion and final billing can be > 3 years.
- Risk mitigation of legal exposure due to access to records resulting from length of records retention rules.(Sarbanes Oxley Compliance)
- DCMA compliance requires contracts to be closed out. Potential past performance impact.
THE BUSINESS SOLUTION:
- Outsourcing of Contract Closeout function.
- Bring in a dedicated team of trained individuals who specialize in administering the closeout process and prepare final invoices and final documentation.
- 90 day period of performance to do closeouts.
- Cost per hour to outsource < Cost of in-house staff
ENTERPRISE SOLUTIONS UNLIMITED UNDERSTANDS:
Contact us now and find out how Enterprise Solutions Unlimited can assist you in closing out your contracts and bringing the cash!
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