We are two months into the new year filled with possibilities and expectation. Has 2015 started any differently than 2014 ended? Is it time to grow your client, patient, customer base? As far as the year that was in public sector RFP and bid notifications, there was a constant in 2014. The number of requests, specifically identified for “professional services” (example view), noticeably exploded upward in respect to the number of RFPs and bid requests submitted by city, county, state, and federal governments.
The San Diego County Water Authority, along with Carteret Borough in New Jersey, led the way in number of RFP and bid requests published. Projections for 2015 show that outsourcing of services and solutions, across all verticals, will grow further and there will be even more opportunity for those ready, willing, and able to act.
Included in her article in Business 2 Community “What are Technology Firms’ Top Business Challenges of 2015?”, Elizabeth Harr noted, “It’s apparent that developing new business opportunities weighs heavy for professional services firms.”Along with the study done by the Hinge Research Institute, she gives a compelling argument that identifying new business is of utmost importance to professional services businesses.
A look at the release of “professional services” RFPs and bid requests for the past 36 months. As noted, this is solely an analysis of the requests that contain the words, “professional services”. As you request, and/or in the coming months, we will publish reviews of specific professional services-related fields (accountant, actuary, architect, dentist, doctor, engineer, lawyer, management consultant, …).
Sample Active Bids/RFPs
Depending with whom you speak, listen to, or what you read, you will come across starkly differing opinions on the value of adding public sector work to your business. As noted in a previous blog, ‘Is Public Sector Business for Us?’, after pensions, healthcare, education, defense, and welfare, governments in the U.S. are projected to spend an additional $1.7 trillion in 2015. Helping to lead the way will be requests for professional services. Ask the following three questions:
1. Do I need more business?
2. Can I handle the additional workload?
3. Do I have the staff and mechanisms in place to identify, pursue and win public sector work? Note: If not, you have a motherload of resources available to help you.
What is your business? If you are an accountant, actuary, architect, dentist, doctor, engineer, lawyer, management consultant, or one of the many others who provide professional services, there may be significant new opportunities for you and your business/practice.
While I could regale you with success stories from our clients who provide professional services, the bottom line is only you can evaluate and determine if the opportunity in the public sector is a good fit. Does the potential for securing this new business, with all the associated rewards, outweigh the cost of investing a little time to determine if public sector business is a good fit?
Remember, BidPrime can also provide you with a market analysis, a historical perspective, on what the activity has looked like in your particular vertical. Any reason 2015 should be exactly like 2014?
Visit BidPrime or call 888.808.5356 to get a free, no obligation review of the current opportunities.