Management Concepts and Oracle Team to Provide Federal Acquisition Regulation (FAR) Functionality for Procurement Contracts

VIENNA VA and REDWOOD SHORES, Calif. - Management Concepts and Oracle today announced that the two companies have entered into an agreement to jointly market their combined solution that helps Federal organizations to author, execute and manage procurement contracts in compliance with the Federal Acquisition Regulation (FAR). The functionality will enable users to automatically upload FAR content into Oracle(r) Procurement Contracts through Management Concepts FAR eProcurement Subscription Service. The service includes updates to FAR content via the Internet from the Management Concepts website or a CD ROM.
Oracle Procurement Contracts is the enterprise application that helps create and enforce better purchasing contracts by standardizing contract processes, reducing time-to-contract, and driving contract compliance. Oracle Procurement Contracts is part of Oracle Advanced Procurement, the integrated suite that helps significantly cut supply management costs. Oracle Procurement Contracts works seamlessly within the Oracle E-Business Suite for better requisitioning, sourcing, purchasing, supplier collaboration and business intelligence. It provides contract professionals with capabilities to author, approve, sign, monitor, track, amend, renew and close out contracts.

The Management Concepts FAR eProcurement Subscription Service provides customers with an electronic, up-to-date version of the Federal Acquisition Regulations to support automatic creation, generation and maintenance of Federal solicitation and contract documents. In addition, the company works with agencies to convert agency-specific clause content for use in their automated procurement applications. The company also specializes in the development and delivery of end-user training programs that integrate agency procurement business processes with automated acquisition applications.

"While Oracle has a complete and integrated procurement solution, we did not have the content in Oracle Procurement Contracts to meet Federal compliance standards. The addition of the FAR content will enable customers make better use of Oracle Procurement Contracts to help ensure compliance with established standards," said Mark Johnson, Senior Vice President, Public Sector Sales, Oracle North America.

"Management Concepts primary business is providing training, consulting and publishing solutions in the Business of Government to Federal agencies. Over our 33-year history we have developed an in-depth understanding of how the Federal government works, the missions of civilian and defense agencies, and the importance of procurement and acquisition systems to achieving organizational goals," said Harry Barschdorf, Executive Director, Government Solutions, Management Concepts. "We are very pleased to work with Oracle to provide state-of-the-art procurement and contracting systems to the federal government."