Growing a healthy federal contracting business depends on submitting a consistent stream of quality proposals that meet or exceed all the requirements of the government’s Request for Proposal (RFP) at a competitive price.
Success in the government contracting industry can be measured in several ways. You may bid on—and win—many opportunities, you may bring in a significant amount of revenue, or you may be able to cut many costs to be more competitive. But, can you balance these success indicators? To be confident in your ability to do this, you might be ready to invest in the right tools to improve your contract win rate, increase your revenue, and cut costs.
The recent influx of opportunities looks promising for contractors, especially considering the overall state of the economy due to COVID-19 and its effect on the global economy. Combined with an increasing number of new and revised regulations (including the long-awaited CMMC certification), government contractors may be feeling overwhelmed with the process of balancing the two. To keep up with reviewing opportunities and developing winning proposals, business development teams are stretched to the limits, working from home, and possibly using antiquated or inefficient tools. Does the term “drinking from a firehose” ring a bell?
The DoD is looking to protect vital data and enhance sensitive controlled information from cyber loss, which occurs at a rate of 1% of GDP each year. To assist in managing information based on its sensitivity, the DoD has assigned five levels of security standards which contractors and their vendors must meet.
Data has become an essential part of our lives. With the COVID-19 pandemic taking over our lives and the news, citizens around the world are now glued to news sources and social media, digesting whatever statistics they can to stay informed about how the virus has spread throughout the world and within their own communities. However, as data accumulates, health and community organizations struggle to collect it from multiple sources in a way which can be interpreted by the public.
With millions of Americans attempting to work from home, having a cloud-based application in your business means that your business still runs, even if you can’t get into your office. But for government contractors who are planning for opportunities which may not be finalized for 9, 12, even 18 months (hopefully long after the COVID-19 pandemic has concluded), a remote solution is more of a permanent change.
The Pipeline. The source of information, the holding place, for all your business opportunities. This is possibly the most important aspect of your organization where technology can make you efficient or leave your organization in the dust.
In the next 90 days, between today and May 1st (May Day), the Federal Government will bring in $61B worth of proposals. Are you ready?
The Government Contracting industry is experiencing a boom, as the government looks to fill contracts while balancing the introduction of both new and revised regulations. However, not all contractors are prepared to take advantage of the influx of opportunities to be found. Many contractors are still using spreadsheets and software platforms, which may help them gather information but fall short in filtering and integrating the data to make sound decisions in bidding and procuring contracts. To maintain your place in the contracting market—or even improve your success—it is crucial that you have created a system within your company which contains with the right arsenal in order to win bids.
At Redstone GCI, we are constantly seeking new tools to make our clients lives easier (and by extension, ours, too) when it comes to maintaining compliance and completing deliverables for government customers. One of the most challenging areas for contractors of all shapes and sizes is the proposal management process. The government’s increasing use of multiple award IDIQ and other task order driven contracts often necessitates the formation of contractor teams. In these situations, not only are you worried about your prime proposal, but you’re also managing data calls to your subcontractors to create the consolidated volumes for response to the government customer. To say managing this process can be a challenge is an understatement.