From the June/July “High-Growth Government Contractor News“.
We were guests on the Federal News Radio Gov Con Straight Talk show to discuss management strategies for companies that provide services to the government and want to start selling products, and vice versa. Companies that sell products to the Federal Government are always looking for ways to expand into more lucrative and higher margin service offerings. And service providers are often looking for product offerings to round out their business lines. Either way, it’s easier said than done. Listen to the show here.
On the show, Rich Marksberry of ROM & Associates, Christine Zmuda of Microsoft, and I discussed the major issues companies typically face when adding products or services to the mix. Product companies are concerned with managing high-volume transactions, which requires effective order management, quoting processes, and inventory and shipping controls, among many other challenges. Services, however, are typically done over a long period of time and require rigid tracking of billing and related implementation activities.
Product companies now providing services need to comply with Federal Acquisition Regulations (FAR) and well as Defense Contract Audit Agency (DCAA) compliance. Both are usually quite foreign to existing operations. Listen to the show for the management concerns you also need to be aware of.
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Best regards,
Bernard Mustafa
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