Compusearch Software Systems has released its contract lifecycle management software to help contractors meet defense and federal acquisition regulations, the firm recently announced.
President and CEO Reid Jackson said the environment for contractors is becoming increasingly challenging as a result of new business systems rules and more aggressive auditing.
He told ExecutiveGov in an exclusive interview that contractors have to comply with the new DFARS contractor business systems rule which allows agencies to withhold up to 10 percent in contract funds for system deficiencies.
SpectrumCLM will help agencies to manage their FAR/DFARS-based acquisition and contracting processes, the company said.
Companies using the software will be able to access updated clause libraries, find contract information, address acquisition rule risks and centralize their entire contract lifecycle.
The company is hosting the Labor Department’s acquisition management system as a prime contractor.