Judith Bjornaas, executive vice president and chief financial officer of ManTech International, said the company is transitioning to a fixed-price contracting model as the Department of Defense and other federal agencies move to accelerate the procurement process, CFO Dive reported Friday.
“They’re no longer telling you how many of what type of people they want; they’re telling you what they need to get done and letting you make those decisions,” Bjornaas said of agencies in a CFO Thought Leader podcast. “And that moves more toward a fixed-price contract versus a lot of the cost-plus contracts that DOD has specifically, historically put out,” she added.
She discussed how the consolidation of the company’s finance, accounting and transactional functions allowed executives to focus on improving relationships with partner intelligence and defense agencies.
“So, we set up a number of shared services that took a lot of the day-to-day stuff off the plates of the groups so they could concentrate more on helping grow their business units instead of worrying about which vendors got paid,” Bjornaas said of the consolidation effort.