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PROPRICER™ Insights Blog

Don’t Fear Your Next DCAA Audit: Standardized Reporting is Here

Pencil Posted by PROPRICER Team

The U.S. Government, particularly the Department of Defense (DoD), has recently surged spending on contracts and significantly increased their value – a trend that shows no sign of stopping. Along with the surge in spending has come the need for rapid award and performance of contracts which, unfortunately, can increase the odds of wasteful and fraudulent activities in government contracting. Of course, the government is aware of this risk and is taking steps to minimize waste and fraud.

Regulations Concept. Word on Folder Register of Card Index. Selective Focus.-1.jpegRecent regulatory updates demonstrate that contractor business systems, internal controls, and compliance processes are at the forefront of government oversight efforts. Many contractors have come under increased scrutiny by the Defense Contract Audit Agency (DCAA), with numerous audits resulting in disapprovals of contractor business systems, withholding of claimed costs, and outright disallowance of certain costs.

“DCAA continues to focus on labor charging as an important area of audit concentration and fraud risk because labor represents the largest cost in many government contracts, and these charges are not typically supported by third-party documentation, making effective monitoring and system internal controls even more important to facilitate accurate timekeeping.” − Deloitte, Government audit: Managing contractor risk in a changing regulatory environment

It’s little wonder that pricers are concerned. Many government contractors have lacked a holistic solution to not only develop their cost proposals, but also to preserve detailed historic pricing data and easily accommodate future audits. When the audit inevitably happens, government contractors need the ability to report on the rationale behind past cost proposals – without causing a major interruption for pricers who are busy working on the next bid.

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PROPRICER Eliminates Reporting Uncertainty with Standardized Reporting

PROPRICER was designed to both streamline proposal pricing and report on it at any level of detail required. Thus, the PROPRICER team has continuously added the back-end reporting functionality and front-end reporting templates needed for both external and internal pricing analysis. Today, PROPRICER delivers over 80 out-of-the-box reports, including many standard FAR reports, and the popular Detail Cost Breakdown Report. Each report is also customizable, making it easy to submit reports that accommodate virtually any new formatting or data mandates imposed by the U.S. Government or prime contractors.

While many users customize PROPRICER’s out-of-the-box reports, they save time with the auto-inclusion of standard data commonly required by the DoD and other agencies. For example, each report template includes direct and indirect rates summarized by calendar year, U.S. Government fiscal year, or any performance period specified. Whether you need to report by CLIN, WBS, or another user-defined summary element, PROPRICER can do it.

Once PROPRICER has collected and sorted your reporting data, you can choose how to present the reports. The solution provides sophisticated formats designed by PROPRICER, giving you an advantage as you pursue contracts with more tech-savvy agencies or departments of the U.S. Government. PROPRICER also acknowledges the reality that some government offices continue to rely on Excel, so the solution also provides reporting output to Excel.

Conclusion

With all the time and effort spent gathering and organizing your cost proposal data for a bid, you shouldn’t have to waste valuable hours producing a different presentation of the same data later when responding to an audit. PROPRICER frees you from that resource-intensive process by housing all your project pricing data and processing it in any way necessary – during the proposal phase and long after.

Topics: government spending

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