Guest Post: Forvis Mazars, Government Contracting Group
Doing business with the Federal Government is a complex undertaking, but one that can be immensely fulfilling. The business leaders we have worked with choose to provide services, products, and strategies to the Federal Government out of a desire to help the country they love. However, successful government contracting firms understand compliance with an extensive regulatory framework is absolutely critical. And now more than ever, with substantial cost increases due to inflation, businesses need real-time data monitoring tools to mitigate rising indirect costs. The volatility, capacity shortages, transport disruptions, and supply chain issues have been the origin points of high inflation. One of the most important, and also one of the most regulated areas of compliance is the design, implementation and maintenance of an indirect rate structure.
In the current environment, it is important to design an indirect rate structure that results in a competitive advantage when submitting proposals. The indirect rate structure should ensure that all indirect costs are allocated in a manner that is consistent with their benefit, without being too complex and/or administratively burdensome. This overview will provide some insightful tips to help navigate the challenges associated with indirect rates.
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