How Deltek Is Helping Small Government Businesses Accelerate Their Growth Strategies
By Kevin Plexico, SVP of Information Solutions, Deltek
Small businesses involved in selling into the federal government contracting marketplace have more opportunities than ever to succeed. Certified members of the 8(a) program have access to billions of dollars’ worth of awards, sole source contracts, and set-asides each year. But to effectively compete, these companies need the right tools and resources to avoid pitfalls and to effectively navigate the federal market.
Deltek is committed to providing a solid foundation for 8(a) businesses and small businesses to successfully build their business development pipelines and grow their sales to the government. Here are four ways that Deltek is doing exactly that.
1. Small Businesses Identify Better Opportunities and Win More Business with GovWin IQ
Deltek’s government contracting intelligence platform, GovWin IQ, is designed to help small businesses succeed. Within the platform, GovWin customers can search for contracts that best fit their needs: they can select from a wide array of fields including the opportunity type, contract value, and competition type or set-aside category. GovWin also provides assessments of major purchasing types and active buyers within the government contracting marketplace to help customers choose the agencies they want to sell to and identify those that may not be a good fit.
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For example, companies like ProCleared LLC, a veteran-owned small business (VOSB), are able to leverage GovWin IQ to look at federal spending trends, as well as specific agency budgets to see which products and services procurement officials plan to purchase. All of this helps them focus their scope on the opportunities they are most likely to win and help them drive their overall growth strategy.
"With GovWin we can get the information that we need and we can get that competitive intelligence that can help us be a little more agile in what we're trying to do."
– Gary Martin, Managing Partner & CEO, ProCleared LLC
2. Industry-Specific Products Help Small Businesses Succeed Across the Entire Project Lifecycle
Deltek’s Costpoint for Small Business solution is designed specifically for government contractors and is easy to use and incorporate into day-to-day processes. Costpoint offers an intelligent and comprehensive project and accounting management solution that helps keep companies compliant with DCAA requirements.
Recently, Deltek released Costpoint 8, which includes features like smarter automations, a fully digital source-to-pay process, Intelligent Time & Expense and artificial intelligence (AI) analysis capabilities. And Costpoint’s Contract Management module is integrated with GovWin IQ to automatically track opportunities, convert opportunities to contracts and subcontracts, leverage data to create bid and proposal budgets, and streamline the project setup process. All of this is aimed at making life easier for small businesses and helping them spend more time on the things that are most crucial to their business.
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3. Valuable Research Helps Small Business Contractors Get Ahead of the Competition
Did you know that the top 20 federal opportunities for the next year are expected to be collectively worth more than $307B? And are you familiar with the different federal government agencies that increased their 8(a) set-aside spending in the last 12 months?
These are the kinds of details that Deltek’s team of 150+ research analysts are constantly unearthing. Through their tireless work and contributions to our GovWin IQ service, our analysts find the patterns that define business success in the government market, and present them to the public in the form of in-depth research reports and informative webinars.
4. Innovation and New Features Save Small Businesses Time and Money
It goes without saying that Deltek is constantly seeking ways in which we can improve the overall experience for our customers. We’ve recently made improvements to our government contracting platform such as the launch of our Federal Technology Install Base, a tool that gives contractors insight into federal agencies’ existing technology stacks, including hardware and software brand preferences and IT buying trends and cycles. We’re also committed to helping businesses navigate impactful market trends and events, which we have done through portals like our Coronavirus Government Response Resource Center and our Administration Transition Resource Center.
For companies who choose to participate in the 8(a) program and do business with the federal government, the rewards are there in the form of billions of dollars of government contracts. With the right tools and research in hand, 8(a) businesses can take advantage of the many opportunities and grow their public sector sales pipelines.
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