We all know a robust pipeline is critical for growing your federal contracting business, but have you thought about what a robust pipeline means for your daily operations?
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 takes many faces. 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. But, can you do all these together? Having the right tools to balance all these indicators of success is paramount to possessing them. You may feel confident in your ability to do this, or you might be ready to invest in tools to improve your success, increase your revenue, and cut costs.
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.
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.