While all signs are pointing to an improved business environment for government contractors, it is still a highly challenging time. As such, many contractors continue to deal with effectively implementing aggressive capture strategies, while also maintaining overall business profitability.
SC&H Group recent ran a story that offered the top five business challenges that contractors are facing today, which are as follows:
- Competing and winning in a “best value” environment, specifically LPTA (Lowest Price Technically Acceptable)
- Sustaining best value contracts while achieving profitability
- Restructuring indirect rates to meet the contracting and competitive environments
- Conducting viable competitor and agency analyses
- Hiring and retaining qualified personnel
The fourth challenge about conducting viable competitor and agency analysis can be overcome by implementing the right market research. By using new pursuit and capture research, as well as competitive profiling, it is possible to gain the actionable insights needed to effectively win new bids and re-competes.
Be sure to read the full SC&H Group post here.