USAID contractors work off of grants, so they need to comply with DCAA and FAR regulations in order to receive funding. Then, they need to report on that funding, making reporting and analysis tools essential for ensuring compliance. Proving their worthiness of the grant and their ability to follow the requirements of the grant.
Automating compliance is a requirement for many contractors. However, finding the right automated USAID contractor compliance software can be difficult because many solutions look the same. Here's how to differentiate between several solutions.
Compliance tools for USAID contractors
It works for you, not the other way around: As a contractor with years of experience, you’ve probably already built a system of rules that work best for your organization. Some software solutions will require you to work around their requirements. The best compliance software will work with your rules without forcing you to do a complicated workaround.
It’s easy to use: Compliance doesn’t have to be complicated. With a properly designed policy engine, it should be easy to input your rules and let the system do the work of approving or denying timesheets or expense reports automatically. Some time and expense systems come with built-in USAID compliance for timesheets and expense reports.
It’s flexible enough to manage your changes: Things change and that’s a good thing. Whether it’s due to expansion, acquisition, or you’ve noticed that a particular policy needs to be tweaked, the system should be able to keep up with your changing requirements. You should also be able to add new policies as your organization grows and remove outdated policies with ease.
It allows you to automate any kind of compliance: Whether you need to comply with the employee handbook’s policies on travel and entertainment or you need to follow DCAA or FAR regulations, the system should be able to meet your needs. Look for a solution that provides support for all USAID financial reporting requirements.
It's manages global needs: If you're a global development, you need time and expense that handles global per diems and can work with multiple currencies and in multiple languages. Plus, there are accommodations for local rules and requirements regarding spend and labor. These can all come out of the box with today's next-generation expense and time solutions.
It can handle your leave management policies too: Leave management can be a major challenge for any HR department because there are so many kinds of leave and so many rules associated with that kind of leave. Automated USAID compliance software should be able to manage FMLA, overtime, carry-over, PTO, sick leave, contract obligations, and any other kind of leave requirement.
Time and expense compliance tools for USAID contractors sounds intimidating, but it doesn’t have to be. With an intuitive system built for USAID contractors, compliance can be a breeze to manage, so long as it has the above features.
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