Unanet’s annual GAUGE Report has illuminated “growing optimism” within the government contracting community.
Created in collaboration with CohnReznick LLP, this 7th iteration of the report focused on the impact of accurate forecasting on business success, Unanet announced from its Dulles, Virginia headquarters on Thursday.
“The GAUGE Report gives our industry unique insights into what keeps GovCons up at night, and increasingly we’re finding they need better predictions about the future so they can plan how and where to deploy their resources, talent and energy,” explained Unanet Vice President of GovCon Strategy Kim Koster, who co-authored the report and is also one of Executive Mosaic’s GovCon Experts.
This year, the report found that 72 percent of respondents felt positively about the current GovCon business landscape, an increase from the previous year. Complementing this figure is the significant number of firms that experienced growth, which was reported by 70 percent of respondents. More than one third of respondents noted expansion through mergers and acquisitions as a major focus area for their companies.
To leverage these trends, GovCon organizations are looking to improve their resource management and forecasting capabilities, the report found. One way they are doing so is by implementing a centralized project management office model.
Koster said these findings demonstrate that project-based enterprise resource planning and customer relationship management tools that promote compliance, security and advanced accounting can boost business performance for GovCon organizations.
“We can see the improvements GovCons reap, and the wins they achieve, after implementing modern technology tools,” she said.
Unanet is sponsoring GovCon Wire’s Fireside Chat With the DCMA on Nov. 1. During the event, Koster will come together with Lt. Gen. David Bassett, director of the Defense Contract Management Agency, to discuss the organization’s role in the increasingly important government contracting space. To learn more and register to attend the event, click here.