Cashing In On Q4 Low-Hanging Fruit (Visionary Blog)
It's that time of year again for those in the GovCon space! This is about the madcap final push of federal agency spending tied to the September 30th deadline of "use it or lose it!"
The part of the spend I'll focus on here is what I refer to as the very lowest of the low-hanging fruit, the more than $20B dollars spent by agencies using the GSA SmartPay Purchase Card. To clarify, this is not just about the $11.5 billion dollars spent under the Micropurchase Threshold (MPT), it's also an additional $9B in payments for orders above the Micropurchase Threshold. Here are some specifics:
- during fiscal year 2020 fourth quarter (July, August and September) agencies used the Governmentwide Purchase Card to the tune of $6.5B;
- there are currently 942K Purchse Cardholders authorized to make buys below and above the MPT;
- more then 560 federal agencies and tribal organizations participate in SmartPay.
The opportunity is real and substantive and would be a nice supplement to all of the other Q4 business you'll be winning. On June 2nd, we'll host our very first GovCon PathFinders Master Class on the topic of GSA SmartPay, Micropurchases and Simplified Acquisitions. It's great and timely information that might be all you need to grab some Q4 Low-Hanging Fruit!