This is a simplified answer because there is a lot of interesting characteristics of contract reporting that create nuances and trends that business development professionals can use but for this article, lets go with the fundamentals.
Per FAR Subpart 4.6, Federal contracting officers are obligated to post contracts whose estimated value is $10,000 or more and every modification to that contract, regardless of dollar value must be reported. So a contract action may be a new award, a task order on an IDIQ or BPA call, a sole source or set-aside; and it can also be an adjustment against a contract – and all of these actions have significance to your Business Development (BD) efforts.
So what can you do with FPDS data?
FPDS provides a significant number of data points that any data nerd can really get into some deep rabbit holes. For SAMradar users, we have assembled the most important components in the email notification. What do SAMradar users think is most important?
1) The buyer contact information
2) The prime contact information
3) The award amount
4) The number of offers received
5) When the action occurred
With these five elements, SAMradar users can ACT. They have everything they need to engage the buyer or the prime and they have a topic of discussion – the award that both are involved in – to inject themselves into the conversation. Remember, “your job for 11 ½ months of the year is to build relationships and SAMradar is playing a critical role in helping connect the dots.” This way when the last two weeks of the fiscal year hit - you HAVE the Unfair Advantage - the relationship!