Q4 is 1/3 done and the unprecedented backlog of federal contracts required to meet the award requirement of $1.2 Trillion in spending is in overdrive. Federal contracting officers have 2 months to spend the nearly $600+ Billion left in the federal budget - and they will - because if they don't they will lose it for this year AND next year.
These are the rules and the federal agencies will not let losing budget money happen. EVER.
Where are we? Let's take a look...
Percentage of Contracts Posted on SAM.gov:
2.47% (down from 2.51% in July)
Year-To-Date
Top Agency: The Navy
Contracts: 118,962
Total Spend: $65,791,652,609.29
Top NAICS: 524114 Direct Health and Medical Insurance Carriers
Contracts: 1,513
Total Spend: $33,311,145,447
Top PSC: Q201 General Health Care Services
Contracts: 8,232
Total Spend: $26,738,859,403
Top Federal Contractors:
By Revenue:
OPTUM PUBLIC SECTOR SOLUTIONS, INC.
Contracts: 91
Total Earned: $14,858,032,579
By contract Volume:
W.W. GRAINGER, INC.
Contracts: 274,055
Total Earned: $337,545,369
Learn more about your place in the federal market
What you can do to win federal contracts...
The rules of federal spending state that every cent of the budget MUST be spent by September 30th. If you want to be considered, if you want to have a shot - you need to move NOW.
You NEED to:
Watch for activity in your space. This includes NAICS, PSC, Keywords and Competitors
Engage buyers. You have to make the move and simple emails work the best.
Build relationships. Buyers who know, like, and trust you will find a way to buy from you. Look at this report and you can see that relationships matter A LOT.
If you have federal contracts, you know that this is where you will be winning. You know that 80% of re-competed contracts are happening right now.
IMPORTANT:
If you are not doing this - you can’t win. Incumbents are strong and unless you do something about it NOW, they will win, and you will lose. Experienced contractors know how long it takes. Current vendors know how to leverage established relationships so they can win. You can do this too.
You NEED:
A tool that can help monitor activity (SAMradar)
Direction on how to engage buyers. (SAMradar)
To build relationships (You)
Here’s the best part…
Everything proactive you do NOW using SAMradar will have a positive impact on your federal future. Why? Because on October 1st, it starts all over again and instead of being behind - you will be ahead.
Get moving NOW!
and start competing for the 98% that never hits SAM.gov.
SAMradar is not a SAM.gov rework. SAMradar monitors ALL federal contracting activity with the objective of informing businesses of hidden contracts that are never posted on SAM.gov.
The federal government budget and contracting process is enormous and complex. In certain years, like FY 2024, budget delays and the use of continuing resolutions (CR) can present significant challenges to federal contractors and companies who want to become federal contractors.
In an effort to simplify the research process, and better service SAMradar members, we have been providing market reports that provide a high-level overview of spending (Summary, NAICS. PSC, Vendor Wins Tabs) as well as a Vendors (detailed) tab to show the exact combinations of NAICS and PSCs vendors are winning contracts.
Report Sources
FPDS.gov is the repository of data. SAM.gov is where contracting officers post opportunities, it is also where the public can run reports on FPDS data using Ad Hoc reports. SAMradar has proprietary intelligence algorithms that provide additional information including deep intelligence on buyer and prime activity that is not available on fpds.gov or SAM.gov.
Why Date Signed vs Date Modified?
Because of the complexities of federal contracting, and the potential to get lost in the weeds of research, SAMradar opted to provide this report by the date signed.
Date Signed: By utilizing the Date Signed field, we can see only new contracts signed within the range (usually current month or fiscal year to date).
There is good reason to care about both, and exactly why SAMradar operates on modifications because contract modifications show spending and prime activity that is also hidden like IDIQ, GWAC, and BPA sales that never show up on SAM.gov. Now, most of the new contract activity (by date signed) is significant because most never post on SAM.gov, therefore most contractors never know of federal sales happening in their NAICS/PSC or niche market.
Report Anatomy and Use Cases
Each Tab includes the ability to sort by the number of Contracts (activity) and Dollars. This provides your insight into activity as well as overall spending. The key for SAMradar members is to utilize this report to find and categorize competitor activity. and add the competitor to your SAMradar vendor monitor.
Find competitors in your space, and add them to your SAMradar monitoring.
See competitor activity in real-time.
Choose your response strategy (see SAMradar templates)
Inject your company into the conversation – especially future procurements.
Reconciling Inaccuracies
Federal contract data contains hundreds of data points per contract and data entry is performed by contracting officers and specialists. As a result, the data is not perfect. When assembling federal contract data, there are regular corrections, deletions, and other nuances (including agencies using fields differently) that can create anomalies in the outcome of summarized reports. SAMradar data analyzers are consistently reviewing the data for these anomalies – but we do not correct them because it would challenge the integrity of the reports.
Comments