Deltek Subcontractor Management will provide you the infrastructure to keep your cash flow positive.
As contractors grow, the pressure to pursue Prime Contract work becomes increasingly apparent. However, with this pressure comes all the responsibility associated with being a Prime. These days, very few contracts are awarded without the involvement of a subcontractor component. As a teaming partner, or simply a service providing subcontractor, these arrangements come with requirements for oversight and management that must be considered before the award is made, not at the time of execution.
Deltek’s Subcontract Management offers you solutions to the most common problems plaguing Prime Contractors in the market today.
* How much has the subcontractor spent?
* How many people are working on the project?
* Have we fully funded the subcontractor?
* When will we know the costs for this month?
By utilizing Deltek Subcontractor Management, we can get simple and reliable answers to these questions quickly and easily. These tools will show us the commitments to our subcontractors, how much they are funded, the period of performance for the funding and the remaining dollars.
To take it one step further, a subcontractor’s employees can now record time directly in your Deltek time system, providing you with the ability to both invoice your customer and pay your subcontractor – diverting any delays in their invoicing cycle that in turn slow your invoice processing time down.
Using real-time dashboards, your Project Managers and Contracts Managers will be able to determine the current project status, the remaining dollars on your subcontracts and which subcontractors are over or under the budget they have been provided.
Interested in seeing more? Let us know and we can discuss the processes that will help you grow!
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