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FY 2024 Federal Spending Report - By Date Signed - Continuing Resolution


NAICS Spending Report August

*source: FPDS.gov


Step 2: Join us for a FREE Federal Market Review (via Zoom) (Review sessions held Tuesday - Friday at 10 AM and 2 PM EDT. You can join as many times as you like)


Step 3: SIGN UP for your FREE SAMradar Trial and start competing for the 98% that never hits SAM.gov.


CONTINUING RESOLUTION is building up a bottleneck...


The initial spending is tracking as expected for New Contracts under the CR - Federal contracts signed this fiscal year are a bit behind at $27.8 Billion YTD. Not bad given that the federal budget hasn't been passed! A BUNCH of money is being spent on current contracts as federal agencies increase their usage of IDIQs and BPAs. Not to discount GSA completely, but the trends favor contractors with a strategy that embodies relationships that lead to sole source or restricted competition contracts.


In today's Monday Roundtable, we discussed successful Unsolicited Proposals that vendors have submitted where it resulted in a sole source award or a very favorable SOW ultimately becoming lucrative contracts. New FAR regulations continue to show a government-wide shift towards accepting and even favoring Unsolicited Proposals.


Yes, unsolicited proposals are helping fuel the dramatic swing to continue minimizing competition in federal contracting with spending. Unsolicited proposals are popping up in modifications, BPA calls and IDIQ task orders. As we see 75% of contracts have ZERO competition (single offer received) and 91% of the time they were awarded to 1 of 5 companies competing. This historic pattern started in 2021 (read more here NEW: Unprecedented Federal Spending Pattern)


Learn more about Unsolicited Proposals HERE!


To be clear, this is TOTALLY LEGAL because contracting officers have clauses in the Federal Acquisition Regulations (FAR) where they can minimize the exposure of contract opportunities to a small number of qualified resources they know, like and trust. This can be used to your advantage - but only if you understand the market and you are proactive in your relationship development, evangelizing your success and reducing the risk to federal contracting officers.


Why Monitoring SAM.gov is CRITICAL for FY2024.


We are currently in a continuing resolution (CR). If you are relying on SAM.gov, this means greatly reduced active solicitations until the 2024 budget is passed and approved by the president.


Now is the BEST time to build relationships. Use the holidays and the CR to get your company known, liked and trusted BEFORE the RFPs are developed - then YOU will be 1 of the 5 in the trusted, capable list of vendors that the contracting officer notifies.


THIS WILL HAPPEN WHETHER YOU JOIN THE PROCESS OR NOT


If you want to be on the inside, you need to be building relationships NOW. They have the time now, you need to take advantage of the slow contracting cycle while you can. If you don't, you will simply be allowing your competition to be the ones that maintain the status quo and keep winning.


DON'T BE ON THE OUTSIDE LOOKING IN - BE THE WINNER.


You have 9 1/2 months to get there for the spending that WILL HAPPEN in FY2024. Even with the SAMradar free trial, you can set up your search criteria in SAM.gov and SAMradar.com so you do not miss federal hidden contract spending.


These proactive strategies are game-changers, enabling you to win business now and build meaningful connections that go beyond what SAM.gov can ever offer. Discover the hidden opportunities that fly under the radar!


Remember SAMradar does the dirty work for you, freeing you up to focus on your #1 job - Build relationships!

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