Temecula, CA – August 21, 2011: Recently Congress passed new legislation requiring the Secretary of Defense to develop a program that ensures contractor business systems provide reliable information in response to the oversight and management of Defense programs. Included are Accounting, Estimating, Earned Value Management, Material, and Property Management systems. As a result, Contractors are preparing for reviews, understanding the significant risk if deficiencies are identified. If a contractor’s business system is disapproved, the DoD will work with the contractor to develop a corrective action plan. However, until a system is approved, the DoD may withhold up to 10 percent of progress and other payments on cost type contracts that are covered by the Cost Accounting Standards.
In response, many Contractors have implemented ProPricer to meet requirements for their Estimating System. Some reasons include:
|Estimating system is maintained, reliable and consistently applied.
||ProPricer provides users a consistent, reliable application of current, accurate and verified rates and factors.
|Produces verifiable, supportable, documented, and timely cost estimates.
||ProPricer’s transitions calculations to the product’s algorithm, providing a documented and supported reconciliation of estimates and rate applications.
|Estimates are an acceptable basis for negotiation
||ProPricer enables users to easily perform detailed analysis and create detailed reporting of cost or pricing data in support of the negotiation process.
|Subject to applicable financial control systems
||ProPricer system and user controls are compatible and consistent with other financial management systems
Additional ProPricer features and benefits designed to enhance the accuracy and agility of any proposal team include:
- Defined User Roles and Access layers are available within the system.
- Automation of Estimating tasks , i.e. applying forward pricing rates and the calculation of a cost estimating relationship.
- ProPricer validates many types of data input, often preventing errors before they occur.
- ProPricer input grids and relational tables protect against resource estimate duplication, and can provide tools to identify potential omissions.
- ProPricer reports enable verification and validation of rate application and escalation factors, and the segregation of cost data using relational tables, thereby enhancing and accelerating analytical capabilities.
- ProPricer forward pricing rates are stored in libraries which are accessible by all proposal databases. When new rates and factors are created, updating proposals prior to price agreement can be accomplished very quickly.
- Subcontract price and cost analyses can be attached to the ProPricer database so that as of a snapshot in time, the proposal pricing can be demonstrated.
- ProPricer implementation encourages organizations to adopt a common set of reports that support the negotiation process.
For more information on why leading contractors select ProPricer in support of their Estimating System and proposal pricing, please contact us or learn more by clicking here.