Cherry Bekaert: Technology

As your tech company considers working with the federal government, but has concerns about giving up its intellectual property (IP), listen to the latest episode in our podcast series where we address best practices for negotiating contracts, classifying and tracking projects, and protecting your rights. 

 Joining Craig Hunter in this episode is Cherry Bekaert’s Brendan Halloran, who has several years of experience working with the government in the Defense Contacting Management Agency. Together, they discuss areas a contractor should be mindful of when proposing or negotiating a contract with respect to the protection of IP as well as future potential commercialization of a technology. 

 Being aware of contractual issues and rights at the front end can help ensure a positive outcome for both parties. This podcast will get you thinking about the crucial steps to take for your tech company to stay protected and succeed. 

 Catch up on the first four episodes of this series: 

• Should Your Tech Company Work with the Government?
• How Tech Companies Can Successfully Capture Federal Business
• Your Technology Company Won Its First Contract - Now What?
• The Keys to Sustaining Growth Through Compliance: Government Contract Compliance Checklist for Tech Companies

In this podcast series’ previous episode, we mentioned the need for tech companies contracting with the federal government to have an approved accounting system to properly accumulate and allocate costs, as well as how to bill costs to the government. In this context, the system isn’t simply ERP or an accounting software package, but rather the people, processes, controls and training that comprise an organization. If you’re just getting into working with the federal government, you might be asked to get an approved accounting system in compliance with SF1408 Pre-Award Survey of Prospective Contractor (Accounting System).

Listen as Craig Hunter and Eric Poppe from Cherry Bekaert’s Government Contracting team cover various topics to consider for your company’s compliance:  

• Direct vs indirect costs 
• Allowable vs unallowable expenses 
• How to adjust your current system to track contract costs  
• Who the key players are as you work through a contract 

Be sure to stick around for the next episode in this series, which will address an important area of concern for many tech companies: protecting commerciality and intellectual property.

 And if you haven’t already, be sure to catch up on the first three segments of this series: 

• Should Your Tech Company Work with the Government?
• How Tech Companies Can Successfully Capture Federal Business
• You've Won Your First Contract - Now What?

So your technology company has won its first government contract. Now what? Do you have a full understanding of the nuances and reporting requirements that come with that contract award? The government understands that it’s dealing with taxpayer money, so all costs need to be reasonable, allocable and allowable, and there’s a lot to uncover behind these terms. 

Join Cherry Bekaert’s Craig Hunter and Eric Poppe for the third episode of this podcast series, as they compare the three major contract categories in which companies can engage, and how costs and reporting must be handled. They’ll also talk about the number one cultural hurdle tech companies must address when they are new to government contracting. 

Stay tuned for our next episode which outlines several important areas that need attention to stay compliant with the government.      

 If you haven’t already, be sure to catch up on part one and part two of this series: 

• Should Your Tech Company Work with the Government?
• How Tech Companies Can Successfully Capture Federal Business

Joining us for the second episode in a series of podcasts exploring options for tech companies to work with the federal government is Joe Salgado with Red Team Consulting. He speaks with Craig Hunter, a leader in Cherry Bekaert’s Government Contractors practice, about how tech companies actually go about capturing business from the federal government. 

Craig and Joe discuss:

• 4 ways tech company leaders can educate themselves about working with the federal government
• Understanding the Request for Proposal (RFP) process 
• The differences between acting as a prime contractor and a subcontractor as well as what experience is needed to bid on federal work 
• Joint venture considerations 

Stay tuned for our next episode which dives further into what the next steps are once you’ve won your first contract.   

 If you haven’t already listened, you can catch up on part one of this series: 

• Should Your Tech Company Work with the Government? 

As a tech innovator, you are focused on continually finding ways to meet the needs and improve the experience of your end user, whether your core customer base is consumers or business entities. But have you considered the world’s largest customer – the U.S. federal government? 

In this first episode of a series of podcasts exploring options for tech companies to work with the federal government, Michael Valerio, Cherry Bekaert’s Technology Industry Practice Leader, and Craig Hunter, a leader in the Firm’s GovCon practice, discuss how or even why tech companies may want to consider this option.  

They cover: 

• Different levels of procurement for selling goods and services 
• Small businesses advantages when searching for government contracts 
• How to get support from the government to foster innovation  
• Differences between various contracting arrangements 

In future segments, we will dive into the topics of capturing federal business for your tech company as well as what we’re seeing the government purchase. 

As 2020 comes to a close, there are three key areas all technology companies should evaluate for the purposes of smart tax planning. Join Cherry Bekaert’s Eric Pilcher and Sarah McGregor as they discuss opportunities that are particularly important for the tech space. They’ll explore the benefits of both cash and accrual accounting methods, how research & development (R&D) credits can be monetized, and what the Qualified Small Business Stock means for companies seeking funding.