Insightful Business Development for Government Contractors

March 11th, 2021 | By, TechnoMile



TechnoMile’s Growth solution augments the customers’ business development process to enhance government contracting. Our solution provides purpose-built functionality to automate the business development process and we have infused AI and machine learning capabilities which leads to better decision making and increased win rates.

Recent global trends have businesses shifting more and more to remote work even in the government contractor space where security requirements permit. This has forced government contractors to invest in technology and software solutions, allowing employees to collaborate and manage work efficiently. While these Enterprise Work Management Solutions simplify business development they must also continue to satisfy or exceed existing win rates.

If you are planning on selling to the largest purchaser of goods and services, and you intend on competing in one of the most competitive marketplaces, then you need to be exceptional at finding, competing, and winning those contracts. About 40% of the government’s discretionary spending goes to contracts for goods and services covering everything from health care to hand grenades. Selling to the United States government is much more than just frantically responding to Request for Proposals (RFPs), it requires a mature business development strategy and the process and tools to support the strategy.

 

The scope of business development can be wide ranging and varies by organization and the sector it focuses on. The Federal contracting business development process involves staying current with the continuous changes in policies and practices, brought on by various agencies. Annually, the Federal Acquisition Service (FAS) supports billions in services while it caters to the complex needs of its federal customers, so they are rationalizing, aligning, and expanding GSA’s Government-wide Acquisition Contract (GWAC), Multiple Award Contract, and MAS service contract offerings.

 

Theoretically speaking business development is the process that is used to identify, nurture and acquire new clients and business opportunities to drive growth. Since our inception TechnoMile has worked on understanding the customer pain points that are fundamental to the business development process and applied that knowledge to improve the overall value of our core offerings. TechnoMile’s Growth platform is designed for government contractors, it leverages artificial intelligence and machine learning to not only enable customers for business development success, but also to efficiently gain the scale required. Every feature that we have designed and considered for inclusion into our Growth product is evaluated to make sure that it brings competence into the various facets of the business development process.

Some of the key features that make up the Growth platform are:

  • Forecasting – Forecasting the outcome of opportunities is a critical component to pipeline planning, using tools like the Pwin and Pgo calculators measure your company’s historical data, spending, and patterns to help better determine your chance of winning.
  • Task Order Management – The Task Order Management capability automates task order ingestion so that IDIQ owners can quickly target and manage task orders coming through the GWACs. Filters can be set so that only the task orders your organization is able to bid on are pulled into the system, enabling task orders to be triaged more efficiently.
  • Relationship Mapper – Knowing & establishing your relationships at an account is a critical component to successful business development. The relationship mapper can help track and manage all your relationships.
  • Partner Management – Managing partners is a key part to the overall business development journey. Technomile Partner management brings efficiency to partner onboarding, partner engagement and document management. The feature also brings an automated means to the partner sales management and partner performance tracking.
  • Account Management – Enables companies that do business with the government, with the ability to stop hunting for data and have it brought to you. Automatic federal data ingestion and the ability to tactically and strategically manage customers, vendors, opportunities at the same time on the same platform. Account playbooks usually consist of a 60-90 day view of the account, but the account strategy and planning is a multi-year activity, and that is the problem with your average account management software. The solution created by TechnoMile is designed to solve this problem for use by public sector account managers, sales managers and account executives for creating and managing account plans and the associated strategies.

What do we mean by “Insightful Business Development”?

The combined strength of our Growth platform capabilities with the power of Competitive Insights is what Technomile refers to as Insightful Business Development. Competitive Insights is a cloud solution for government contractors who focus on acquiring federal business. It helps to build data-driven pipelines, automate business processes, and provide fast, actionable business intelligence and analysis through key metrics. This intelligence includes information about opportunities, customers, competitors, partners, and contact information in one place, reducing the swivel chair research of the past. The Competitive Insights product is powered by Technomile’s Data Lake which is home to more than 500 million records from more than 10 data sources. This content engine coupled with the interactive Competitive Insights product provides Technomile Growth customers with readily available information that allows for much more efficiency in the business development process.

The process of efficiently managing the demands of government contracting requires you to be well aware of where you are heading while implementing your business development strategies. In order to improve your data visibility, find out how TechnoMile solutions can help you with insightful business development for success in government contracting, by Registering for this Webinar on March 24, conducted by TechnoMile’s SVP, Product Strategy Matt Pinkston and Director, Sales Operations Aaron Tate..

About TechnoMile

TechnoMile provides best-in-class Enterprise Work Management solutions for efficient Government Contracting. Through infusing AI and machine learning across our industry-leading interconnected products made for government contractors, we empower your business to keep winning more, focus on building relationships and reaching future growth objectives faster. Tailored to meet each business’ unique challenges, our solutions are configured to foster deeper participant engagement and provide a greater return on your technology investment. To learn more about how TechnoMile’s transformative solutions can help reach your business development goals schedule a complimentary consultation.

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