In the following podcast, Roy Conley and Rebecca Kehoe of CohnReznick discuss why federally compliant purchasing systems are a must for government contractors.
For small and mid-sized government contractors wishing to remain competitive in today’s budget environment, there is an increasing need for them to have federally compliant purchasing systems in place. These business systems must meet federal and defense acquisition requirements and are thoroughly reviewed by the Defense Contract Management Agency (DCMA).
Compliant systems are vital because they ensure that contractors are making purchases that reflect sound spending of taxpayers’ dollars. In addition, they are necessary for contractors to be considered for most large government contracts.
To effectively meet the requirements of federally compliant purchasing systems, contractors need to undertake a Contractor Purchasing System Review (CPSR) which requires a five-phased implementation approach. This spans everything from reviewing existing purchasing policy/procedures to training to ensuring that the new system is actually compliant – and much more.
Highlights from the podcast include:
- Background on federally compliant purchasing systems and why contractors need them. (:26)
- Two scenarios that reinforce the necessity for purchasing systems. (2:30)
- Insights on the overall need for correct implementation. (4:54)
- How CohnReznick can help contractors through the five phases of necessary implementation. (9:10)
- Why CohnReznick is the right partner in helping contractors meet this important requirement. (15:35)
To learn more about the CohnReznick’s Contractor Purchasing System Review Consulting Services, please click here.