In the coming years, there will be lots of opportunities for businesses that depend on government contracts. But how do you find the ones you can successfully capture?
Second only to projecting sales, your capture management tool of choice is a key indicator of your capture management team’s performance and is also what keeps accumulated data about each prospect in one place. Its active monitoring begins the day your Capture Executive (also known as a Capture Manager or Capture Executive Manager) starts work. At that moment you with understand that your capture management team will change over time, and thus you may be faced with extreme difficulties when your Capture Executive leaves for other opportunities.
Of the 58 percent of companies that track their company’s wins and losses, the majority use Microsoft Excel as their Pipeline solution. Why might that be?
Well, for those companies that really want to track the basics about each opportunity AND only have one or two sales people, then Microsoft Excel as a CRM solution serves its purpose. You can easily create a running total of wins, and a running total of losses; and each can be easily stored, organized and understood. But once your sales team begins to grow and find more opportunities, now your Capture Executive (Capture Management) team is ready for a more advanced solution that can handle more strategic capabilities; perhaps Microsoft Excel should no longer be your Pipeline system.
Take a look at the habits of successful leaders in your industry or your company’s area of expertise. By cultivating these same habits or by looking for them in your employees and consultants, you can identify employees most likely to lead your business through a successful capture management strategy.
Everyday, regular tasks become habits because they are recognizably and predictably essential for success, and you should always stock up your company’s cupboard with everything you need to improve your capture success rate. Read More
Hiring a consultant can save your company a lot of money on your capture management process, but only if you find the right one. When you hire employees, you have control over how they spend their working day. However, when you work with consultants, they often have more autonomy.
In today’s hyper-competitive, 24/7 global economy, automated capture solutions can help your business adopt and maintain a competitive edge by creating repeatable processes, eliminating inefficiencies, building a solid customer data bank and closely tracking sales metrics within your organization.
Of the thousands of acronyms utilized throughout the federal government, the intent behind this one is quite autonomous, regardless of agency. Indefinite Delivery, Indefinite Quantity (IDIQ) contracts have been a federal procurement option since the early 1990’s, but the last ten years have really experienced a significant increase in IDIQ contract strategies. The legal origin of IDIQ contracts is the Federal Acquisition Regulation (FAR) section 16.504(a) (48 C.F.R. 16.504(a)). Historically, these contracts provide federal buyers with more options when procuring services, allowing them to issue delivery or task orders to a vetted group of contract awardees.