I don’t know about you but end of fiscal year was challenging. Federal budget cuts have left contractors accomodating agencies with more product for less money. Based on the economic structure dissolution of contracts are not uncommon. In order to stay abreast of the market glancing at the previous quarters contract actions can provide your business ideas for your marketing strategy.
For example, according to the Federal Procurement Data System (FPDS) the fourth quarter ended with Professional, Scientific, and Technical Services with over Thirty-Four Thousand procurement actions, totaling Twenty-Five Billion plus in revenue. That was a decrease in revenue compared to third quarter. (see below)
|
NAICS CATEGORY |
TOTAL ACTIONS
|
TOTAL DOLLARS |
| 33 (Manufacturing Metals, Machinery, Computer, Electronics, Electrical Transportation Equipment, Furniture, Miscellaneous) |
345,391 |
$37,140,123,519.83 |
| 54 (Professional, Scientific, and Technical) |
124,630 |
$36,151,464,687.38 |
| 56 (Administrative and Support, Waste Management, Remediation Services) |
44,836 |
$13,687,413,089.26 |
| 23 (Construction) |
39,695 |
$9,550,312,982.47 |
| 42 (Wholesale Trade) |
279,926 |
$5,681,533,595.75 |
*Dates are from 4/01/2011 to 6/30/2011(3rd Quarter) ** Data is from Federal Procurement Datat System (FPDS)
Monitoring contract actions become a helpful way of determining four things; Who you can market your products and services to, What types of commodities are of interest, Where your business stands within the federal arena, & How to build a strategy for your business to bring in revenue.
|
NAICS CATEGORY |
TOTAL ACTIONS |
TOTAL DOLLARS |
| 54 Professional, Scientific, and Technical Services) |
96,250 |
$25,700,424,097.81 |
| 33 (Manufacturing metals, Machinery, Computer, Electronics, Electrical Transportation Equipment, Furniture, Miscellaneous) |
225,619 |
$9,145,618,150.71 |
| 56 (Administrative and Support, Waste Management, Remediation Services) |
31,843 |
$6,810,353,175.35 |
| 23 (Construction) |
29,192 |
$6,233,032,850.72 |
| 42 (Wholesale Trade) |
83,837 |
$2,886,430,415.61 |
*Dates are from 7/01/2011 to 9/30/2011 (4th Quarter) **Data from Federal Procurement Data System (FPDS)
Does your business monitor quarterly reporting? We would love to hear your feedback.