New automated feature expedites obligations reporting requirements for IDOT and Illinois Tollway contracts
Exciting news at Maginox! We’ve rolled out a new suite of automated reports that expedite the complex contract obligations reporting requirements for Illinois Department of Transportation (IDOT) and Illinois Tollway contracts.
These reports come standard with Maginox’s project management software for those firms who submit on engineering solicitations and are selected for bulletin awards. We built them specifically in response to client requests to streamline and speed up response times to produce IDOT and Tollway disclosure forms that contain contract-related information.
Be Prepared Before You Submit Your Proposal
If you’re not an expert on the complexities of IDOT and Tollway compliance reporting, don’t worry. Maginox is.
Maginox’s new functionality maps everything out so that data is readily—and immediately—extracted from our common system of record into a ready-to-use format containing accurate, up-to-date contract information.
The benefits are clear:
- Automatic cash flow of remaining fees broken down between construction and design contracts into time-specific segments: 0-6 mos, 6-18 mos, >18mos.
- No ‘all-hands-on-deck’ scrambles across departments to pull together disparate contract and accounting info
- Elimination of outdated spreadsheets and labor-intensive manual work-arounds
- Reduction of up to several days of effort, depending on the number of contracts, agencies, and project managers involved
At a minimum, you need to be prepared to submit this compliance reporting quarterly or as often as PTB and PSB solicitations are issued. In addition, awarded prime and subconsultant contracts require this information to be submitted on demand, so the information must always be kept current.
Covered IDOT Forms and Tollway Forms
- IDOT: BDE DISC Form B – Contract Disclosures
- IDOT: EPAS Exhibit C – Current Contract Obligations
- Tollway: Certification – Disclosures Form B Contracts
- Tollway: Exhibit G – Current Obligations
- Tollway: Exhibit C – Current Contract Obligations
Consolidating all active contracts, including fees and invoice expenditures, provides the peace of mind that comes from knowing that your disclosures and obligations are being reported accurately. The ability to produce these reports on demand also frees up time for more important work – like developing outstanding proposals to win more IDOT and Tollway contracts!
Greater efficiency for IDOT and Tollway compliance is readily accessible, right now. If you have any questions or would like to see firsthand the assistance Maginox’s reporting functionality provides, let me know by contacting me here.