GAUGE Survey Results Unveiled: Essential Insights and Best Practices for Government Contractors

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Sep 07, 2023, 09:30 ET

DULLES, Va., Sept. 7, 2023 /PRNewswire/ -- Unanet, the leading provider of project-based enterprise resource planning (ERP) and customer relationship management (CRM) software for the government contracting (GovCon) industry, together with CohnReznick LLP, is pleased to announce the release of the 7th annual GAUGE Report. Widely recognized as the most in-depth benchmarking survey of its kind, the GAUGE Report provides a comprehensive analysis of the government contracting community and offers invaluable insights and best practices to inform decision-making and drive success in the year ahead. This year's edition, themed "Lead by Forecasting," underscores the pivotal role of accurate forecasting in achieving optimal business outcomes.

The GAUGE Report empowers government contractors to evaluate their performance, benchmark against their peers, and gain valuable insights into the latest industry trends and best practices. It serves as a comprehensive guide with detailed insights into government contracting compliance, project management, accounting, resource utilization, growth and efficiency. This information enables organizations aiming to navigate the complex landscape of government contracting successfully.

The findings from this year's edition demonstrate how forecasting excellence directly impacts the bottom line and serves as a roadmap for government contractors seeking to enhance operational efficiency, resource utilization, and overall growth.

"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," said Kim Koster, GAUGE Report co-author and vice president of GovCon strategy for Unanet. "In addition to offering the most comprehensive annual look at the state of the GovCon industry, the report provides business leaders with ready-to-apply best practices to help them plot a prosperous course into the future."

Below are just a few of the key insights from this year's GAUGE Report, including:

There is growing optimism within the GovCon community. A remarkable 72% of respondents expressed optimism about the GovCon business environment, reflecting a notable increase compared to last year. Furthermore, an encouraging 70% of firms reported experiencing growth.
Identifying new revenue sources is a key business driver. Though the current climate seems favorable, the issue of identifying new revenue streams remains a financial concern for government contractors. It sheds light on the challenges faced by organizations and provides actionable insights to address this critical issue.
Revolutionizing resource management and forecasting are major value-adds for growing companies. Organizations grappling with resource management and forecasting challenges will discover how improvements in these areas can enhance operational efficiency, facilitate informed decision-making, and drive the achievement of strategic goals.
The emergence of the Project Management Office (PMO) as a critical tool for effectiveness and efficiency. The GAUGE Report reveals that a centralized PMO model is now widely adopted by organizations, enabling effective project management and maximizing operational efficiency.
GovCons are looking to expand via Merger and Acquisition (M&A) opportunities. Over a third of respondents identified M&A as a priority for their company in 2023, highlighting the potential growth opportunities within the government contracting sector.

"Because we have been surveying GovCons for seven years now, we can definitively say that project-based ERP and CRMs that enable compliance, security and sophisticated accounting drive better outcomes for GovCons," continued Koster. "We can see the improvements GovCons reap, and the wins they achieve, after implementing modern technology tools."

To read the 2023 GAUGE Report in its entirety and learn more about how GovCons can lead by forecasting, please visit https://info.unanet.com/gauge-report-2023. The report also includes a special section on how GovCon small businesses can use forecasting and planning titled, "Industry Insights: How More GovCon SMBs Can Get In On Federal Contracting Action."

About GAUGE: The GAUGE Report derives its name from an acronym that represents the key focus areas for government contractors: [G]Government Contract Compliance, [A]Accounting, [U]Utilization, [G]Growth, and[E] Efficiencies. Developed by industry experts, the GAUGE Report has become the go-to resource for government contractors seeking to thrive in a competitive landscape.

To learn more about Unanet, please visit www.unanet.com.

About Unanet
Unanet is a leading provider of project-based ERP and CRM solutions purpose-built for government contractors, architecture, engineering, construction, and professional services. More than 3,700 project-driven organizations depend on Unanet to turn their information into actionable insights, drive better decision-making, and accelerate business growth. All backed by a people-centered team invested in the success of your projects, people, and financials. For more information, visit www.unanet.com.

About CohnReznick LLP
As a leading advisory, assurance, and tax firm, CohnReznick helps forward-thinking organizations achieve their vision by optimizing performance, maximizing value, and managing risk. Clients benefit from the right team with the right capabilities; proven processes customized to their individual needs; and leaders with vital industry knowledge and relationships. With offices nationwide, the firm serves organizations around the world through its global subsidiaries and membership in Nexia International. For more information, visit www.cohnreznick.com.

SOURCE Unanet