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Using Technology to Stay Up-to-Date on Government Contracting

Wednesday, October 09, 2013   (0 Comments)
Posted by: Jeremy Higbee
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Winning a government contract is hard work. Since you’re dealing with the government, there are a seemingly endless number of hoops to jump through, procedures to follow, and policies to memorize. However, there is a ton of money in government contracting.

For small businesses in 2008, the government spent $96.8 billion in government contracting funds. The information tech company NOVA Corp. was just recently awarded a contract through the Defense Information Systems Agency for $19.4 million. There’s a lot of money to be made in government contracting

Registering your IT business to bid and win government contracts is a complicated process that can be explained here. There are a lot of forms, self-certifying, and good old marketing that needs to be done in order to get a piece of the government contracting pie, but it’s well worth it.

Once you’re registered and you start to bid on government contracts, it can be difficult to manage your bids, keep your business visible to government agencies, and keep up-to-date on government contracting news. It’s a lot to wrap your mind around. There are a few technologies and websites around that can ensure that those issues are solved.

The Small Business Administration’s (SBA’s) System for Award Management (SAM) and Dynamic Small Business Search (DSBS) Database

When you’re initially registering to bid on government contracts, you’ll want to submit your business profile, or resume, to SAM. As you register for SAM you’ll have an opportunity to fill out a small business profile. If you do, the information will automatically be uploaded to the DSBS. These two tools allow government agencies to find and identify businesses that can meet their contracting needs. These two databases are essential for government contracting.

FedBizOpps

Any business that the federal government is currently engaging in through government contracts is listed at FedBizOpps. FedBizOpps stands for Federal Business Opportunities. The cool thing about this site is that government agencies are required to update their information on procurement opportunities and vendor requirements. Federal agencies are also required to provide a list of potential vendors so that you can know who your competition is. Be aware: all contracts listed here are over $25,000.

Federal Procurement Data System

This is a database that holds all federal government contract data for any contract about $25,000 (which is most of them). That means you can use this repository to do some market research. You can see which government agencies have hired which businesses historically. That way you can market your business for government agencies that are more likely to hire your business. For information technology, though, almost any government agency will do. It’s one of the fastest growing markets in government contracting.

Online Bid Notification Service

All of the above tools are almost universally used by most businesses when they get started government contracting. Not many sign up for a bid notification service like this one. This service will allow you to have electronic bid notifications and access online eProcurement solutions. It allows vendors to connect with government agencies quickly and efficiently. All the procurement information and processes that your business goes through can be managed through the service. You’ll be able to receive a larger number of bids than your competitor, thus enabling your company to win more bids.


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