The General Services Administration has released a final rule on its transactional data reporting process in an effort to help simplify the tracking and disclosure requirements for federal contractors.
GSA said Wednesday the rule will be published on Thursday and is applicable across the agency’s contract vehicles for information related to government purchases of goods and services such as descriptions, part numbers, quantities and prices.
GSA sought to remove the Commercial Sales Practices disclosures and Price Reductions Clause basis of award tracking requirement from GSA’s Federal Supply Schedules Program.
“Collecting and sharing transactional data is essential in order for GSA to provide information that federal buyers need to conduct meaningful analysis and successful negotiations on behalf of the taxpayers,” said Tom Sharpe, commissioner of GSA’s Federal Acquisition Service.
Contractors must report via electronic means the key procurement data such as prices paid, quantity, standard part number and product description for all purchases made through GSA contract vehicles.
GSA also intends to help further the government’s transition to category management through the collection and analysis of information on federal agencies’ buying behavior and purchase costs.