Verocel, a Westford, MA-based company focused on providing software verification services for the aviation industry, was looking to preemptively upgrade their accounting system so that they could appropriately track and monitor job costs in accordance with Defense Contract Audit Agency (DCAA) standards. It was understood that upgrading the systems in advance would afford them the opportunity to pursue cost-type contracts with a handful of their current customers as well as with new prospects. Verocel contacted AMS to spearhead the endeavor.
AMS sent out a seasoned veteran to streamline Verocel’s accounting system and ensure its compliance with DCAA regulations. While on site, the consultant trained the finance staff on the new procedures needed to maintain the accounting system and provided insight on various DCAA expectations and timelines.
The accounting system was successfully updated and is fully operational. Verocel is now able to pursue DCAA cost-type contracts with confidence that its systems and financial capabilities would pass pre-award audits. The accounting system will also allow them to quickly calculate indirect rates so that they can be sure to request the appropriate overhead coverage on future cost-type proposals. Verocel is expecting to receive their first cost-type contract this year and all systems are ready.