Introducing Smart Summaries for GovWin IQ – Leveraging Generative AI Technology

Companies of all types recognize that artificial intelligence (AI) technology is capable of dramatically changing the ways they do business. At Deltek, we have been charting the ways project-based businesses can benefit from leveraging AI technology, and now we are bringing more AI capabilities than ever before to our products – including our newest product enhancement that brings generative AI technology to our GovWin IQ platform.

What is Generative AI Technology?

Generative AI, or Gen-AI, is a new class of artificial intelligence based on foundational large language models (LLM) trained on billions of datapoints. These foundational LLMs are a fundamental shift in artificial intelligence and make the power of AI accessible to anyone.

While traditional AI identifies patterns and makes predictions from training data, Gen- AI employs machine learning algorithms to create diverse outputs like audio, text, code, video, images and more.

Through generative AI, government contractors can unlock valuable projects, customer and industry data for efficient project management, improve customer service and inform labor and financial management decision-making. Gen- AI also offers the potential to alter the landscape of business development in government procurement, as I recently shared as a part of a panel discussion on AI with Red Team Consulting. Applying human logic to generative AI technology can help a company more easily gain relevant information about a company, agency or an opportunity to help them put together their best proposal.

Introducing Smart Summaries to GovWin IQ

The team at Deltek has been hard at work applying this technology to the industry-leading GovWin IQ platform of government market intelligence. Our latest product enhancement, Smart Summaries, leverages Gen-AI to make tedious data collection and synopsis effortless by delivering clear, concise executive briefings for federal Agency Profiles, federal Contract Awards and state, local, and education (SLED) Government Profiles with the click of a button.

GovWin IQ users can easily identify quick learnings before diving into further research and easily share summaries with their team. With over 1,100 federal Agency Profiles and over 100,000 SLED Government Profiles, GovWin enables users to research their buyers easier than ever before. Federal Contract Award and Task Order Award summaries make it effortless to glean insights from historical data. Subscribers can instantly get visibility into contract details (contract type, number of offers received, etc.), award value, spending, period of performance, modifications, subcontractor awards, and then the ability to dive deeper with direct links to related opportunities and documents directly within the GovWin IQ platform. Each Smart Summary is created by generative AI technology using a combination of publicly available information and proprietary data created and owned by Deltek.

In the coming weeks, Smart Summaries will expand to additional GovWin data sets including Opportunities, Company Profiles, and Government Contacts.

How Smart Summaries Uses Generative AI Technology to Help with Government Contracting

GovWin IQ already has aided contractors with their strategic go-to-market plans for years by centralizing complex data and making it easy to consume, and has introduced machine learning to our platform through our Smart Fit Scores. The addition of Smart Summaries makes the go-to-market process even easier by organizing high volumes of data and distilling it down to concise insights in the form of an executive summary that can be easily shared with a go-to-market team directly from within GovWin. By delivering summaries in real-time, users can answer the top questions about their buyers as opposed to spending hours organizing and synthesizing data to inform strategic decisions. Smart Summaries are organized into intuitive sections that create easy-to-understand data stories. GovWin IQ offers Smart Summaries technology for a number of core business development data sets to support our users in identifying key details at a glance.

Analyst-tracked opportunities are exclusive to GovWin IQ and offer our users a way to stay up to date on the latest news around opportunities they're interested in pursuing. These opportunities are identified by our analyst team and updated continuously throughout the contract lifecycle. With updates captured and shared directly on opportunities, GovWin IQ allows customers to get validated insights directly from government decision-makers. Smart Summaries for analyst-tracked opportunities will not only pull in the latest analyst update but will also instantly pull key opportunity data and links to related content.

Smart Summaries for Analyst-Tracked Opportunities include:

• Summary
• Scope of Work
• Funding/Contract Value
• Procurement Timeline
• Latest Analyst Update
• Competitive Landscape
• Existing Contracts
• Existing Task Orders
• Related Opportunities
• Related Documents

Agency and Government Profiles are critical for strategic planning because they aid users in understanding the market they’re pursuing by consolidating spending details to a centralized hub. In understanding their buyers, organizations can plan effectively when evaluating diversifying their portfolios and pursue government agencies with confidence.

Smart Summaries of Federal Agency Profiles include:

• Executive Summary
• Top Contractors and Spend Categories
• Top Contract Vehicles and Purchasing Methods
• Use of Small Business and Small Business Programs
• Recent Contract and Task Order Awards

Smart Summaries of SLED Government Profiles include:

• Executive Summary
• Trends in Revenue
• Trends in Expenditures
• Top Bid Categories
• Top contractors
• Recent Contracts
• Conclusion

Contract and Task Order Awards aid users in identifying proactive opportunities by signaling expiring contracts coming up for recompete. By understanding historical data, users can glean insights into who their competition is and understand their buyer’s needs to make informed pursuit decisions.

Smart Summaries for Federal Contract Awards include:

• Contract Summary
• Award Value, Spending and Period of Performance
• Contract Details
• Place of Performance
• Modifications
• Subcontract Awards
• Task Orders
• Related Opportunities
• Related Documents

Smart Summaries for Task Order Awards include:

• Task Order Summary
• Award Value, Spending, and Period of Performance
• Task Order Details
• Modifications
• Subcontract Awards
• Contract Information
• Program Information

The data that goes into the GovWin IQ platform is refreshed regularly, and Smart Summaries will refresh on the same cadence to ensure up-to-date relevancy for users. Ready to see how Smart Summaries can help your business more easily sort through government contracting data? Click the link below to try GovWin IQ today.