This blog is a follow up to my blog dated 7/8/2020 titled "Federal Subcontracting - Analyzing the Data" and is focused on how companies can use the federal subcontract data.
Subcontracting is a successful strategy for many businesses that are new to federal contracting. It is also used successfully by large companies and Joint Ventures that have specific socioeconomic goals and as part of their growth strategy. In certain industries we see more teaming & subcontracting than others. While ensuring that there is a meeting of the minds, capabilities, personnel and more there are many legal and reporting requirements, however if managed well this relationship can be beneficial to both the prime and sub.I believe in the adage "Knowledge is Power" and understanding the subcontract awards data provides a company with key information such as visibility into subcontractors working at an agency or base, type of work that is subcontracted out, strategy that a prime might be using, costing for the sub award and much more.
Using Fedmine's Subcontract Visor for Your Business
While the data is the same, it is used differently based on a company's need or function. A few ways in which Fedmine's subcontract searches are used include:
Increasingly we see the use of teaming and joint ventures. Finding a reliable partner is essential. Part of market research includes using Federal Contract data to search for a partner based on the type of work the company has done, socioeconomic indicators, place of performance and agency past performance. While using the reported subcontract data provides a history of the subcontracts a company has received, a look at their company profile provides a comprehensive view of its federal contract history, including protests, federal prime contracts, subcontracts won and awarded and GAO protests - use it as an evaluation tool as you decide if the company is a good fit.
I believe that a successful subcontracting/teaming strategy is essential and should be part of a company's growth strategy and key to market research is knowledge, especially if its authoritative and in real-time!
Drop me an email if you have any questions or want to learn more about Fedmine - archisha@fedmine.us