With the largest defense budget in history, 2019 will be a big year for government contractors! There are many opportunities in the pipeline so it is important to be organized and prepared to submit winning bids. If your company plans to take advantage of the increased demand, it’s time to pull together the required information. We’ve put together a checklist of the most important tasks for federal contractors to streamline your proposal management process. Take the challenge to complete the following tasks and help your company increase efficiency in 2019!
Click here to download a free printable checklist to add to your annual routine.
1. Update SAM Registration/Representations and Certifications
At SAM.gov you can update your registration by adding new NAICS codes, making any necessary changes to your representations and certifications, or simply updating your company profile. Your SAM registration must be up-to-date to be considered for federal contracts. SAM.gov says:
“Bidding on Federal Contracts with less than 60 days remaining on your Federal SAM.gov registration significantly reduces your chance of getting awarded a contract. Failing to update the registration before this date may delay Federal payments and will definitely affect future Federal contracts.”
PRO TIP: Update your SAM registration twice a year, once at the beginning of the year and once mid-summer, ensuring your registration never falls below the 60-day threshold.
2. Organize Performance Evaluations and Letters of Recommendation
Keeping your performance evaluations organized will benefit you when it comes time to include them in a proposal. If you do not a final performance evaluation saved in the Contractor Performance Assessment Reporting System (CPARS) for a completed project, reach out to your project point of contact and request one. Next, create a file for all performance evaluations to keep everything in one place. Staying organized will increase your proposal efficiency, tenfold.
PRO TIP: Create subfolders by year, project, or type of evaluation to stay ahead.
3. Obtain Safety Statistics for Previous Year
Contact your insurance company to get your company saftey ratings from the previous year. Many RFPs require providing your Experience Modification Rate (EMR), Occupational Safety and Health Administration (OSHA) and Days Away, Restricted and Transfer (DART) rates; some even requiring statistics from the previous three years.
PRO TIP: Develop written explanations for any increases or decreases in your rates from year to year. RFPs and insurance companies often request these explanations and it is easiest to develop them when the events or incidences are fresh on the mind.
4. Create Year End Financial Statements
Creating your annual financial statements as-soon-as-possible after your company’s taxes are complete can be extremely helpful for many sources.
PRO TIP: Updating your financials throughout the year can make for less work when completing them.
5. Start Winning More Bids!
Need help with your proposal management process? Contact Meridian West today!