Glossary of Vital Federal Business Terminology
Asher Strategies is a resource to help businesses of all sizes become better at government marketing, contract bidding, and development training. To this end, we have put together a short glossary of some of the most important terms involved in government sales. If your organization is new to government contract bidding, be certain to familiarize yourself with all the terminology on this list.
A Glossary of Vital Federal Business Terminology
Blanket Purchase Agreement (BPA)
Allows an agency to establish an ongoing relationship with a contractor to continually provide a product or service as needed.
Business Development Consultant
A consultancy firm or individual dedicated to advising businesses on making new contacts within the government and improving their bidding procedures. Business development consultants are generally ex-government and their own personal list of contacts is a major selling point.
Business Development Strategies
A business development strategy is a standardized approach for cultivating new business opportunities either from existing accounts or by targeting new accounts. Strong development strategies are a must for businesses looking to grow in government contracting.
Business Development Training
Training focused on business development processes, particularly those for B2B or B2G sales. A strong business development training seminar can significantly improve a business’s chances of landing new government contracts.
Contractor Assistance Visits (CAV)
Periodic evaluation visits from GSA officials to contracted companies, overseeing, and reporting on their management of contracts. These visits can touch on almost any area of contracting and business being done.
Data Universal Numbering System (DUNS) Number
A unique nine-digit business ID number provided by Dun & Bradstreet, required for identification throughout the government contracting system. One is necessary for each physical location of a contracting business, and they can be quickly obtained for free online.
eBuy
One of the primary central Request for Quotation tools, facilitating contract requests and bids for most government agencies.
FedBizOps (FBO)
The official point-of-entry for high value procurement opportunities and contracts with a minimum value of at least $25,000.
Federal Acquisition Regulation (FAR)
The standardized set of laws and procedures for all government agencies seeking contracted businesses partners. FAR covers acquisition planning, as well as contract development, bidding, and oversight. Only a handful of agencies are exempt from FAR, notably the FAA and the US Mint.
Government Marketing
Marketing tactics specifically targeting the Federal government and its various agencies. Government marketing is heavily focused on personal outreach aimed at individuals within those agencies, similar to Account-Based Marketing tactics in B2B fields. Targets include procurers, decision makers, and end-users.
Government Sales Training
Training courses and seminars which teach the intricacies of finding and targeting the right individuals within government agencies, as well as how to phrase communications to achieve the best results.
Government Contracting Companies
Any company which has successfully registered with the Federal Government as a certified contractor and has begun competing for and completing contract jobs. This includes obtaining a DUNS number and registering in the System of Award Management (SAM).
Indefinite Delivery Indefinite Quantity (IDIQ) Contracts
A lucrative form of government contract that allows for unlimited product/service purchases within a given contracted timeframe. IDIQ contracts are often used for on-demand services, and are often streamlined in that once one is in place, relatively little additional negotiation is needed for orders within the scope of the IDIQ contract.
Multiple Award Schedules
Schedules (contracts) which are awarded to multiple contractors at once for use by many government agencies at the same time, to facilitate purchasing when no one vendor could handle the entire demand. Many IDIQ contracts are also MAS.
Schedules
Contracts which are government-wide, providing products and services to multiple agencies at once. Schedules are generally long-term and based around offering bulk discounts for huge orders.
Service-Disabled Veteran Owned Business (SDVOSB)
A small business which is controlled, owned, and\or operated by one or more US service veterans who have been wounded and disabled in the line of duty. SDVOSBs may receive preferential treatment or have contracts set aside specifically for them.
System of Award Management (SAM)
The official US Government registration system for all businesses seeking to handle governmental contracts. Registration is free, and necessary for making bids through any online or offline contract portals.
US General Services Administration (GSA)
The independent government agency tasked with providing support services to the rest of the Federal government, such as procurement and transportation. The GSA centralizes most government purchasing and oversees government contractors.
Woman-Owned Small Business (WOSB)
WOSBs are at least 51% owned by one or more women, as well as being primarily run by women in terms of both day-to-day operations and long-term planning. Like SDVOSBs, WOSBs may receive preferential or exclusive contracts.
Take Your Government Marketing to The Next Level
Training courses and seminars through Asher Strategies can give any business the tools they need to succeed in government marketing and contracting. Our highly-experienced experts understand the ins and outs of the system, and can provide you with key insights into how to make the most of the contracting system.
Contact Asher Strategies today to learn more.
