By Kevin Plexico, Deltek (Guest Contributor)
The 12th Annual Deltek Clarity Government Contracting Industry Report is on its way this spring. Releasing for download in a few short weeks, this year’s Report is packed full of one-of-a-kind industry benchmarks and trends.
This year’s survey of leaders within the government contracting market was unique. As with past years, they reviewed their business performance from the previous four quarters, but because of the impacts of the COVID-19 pandemic, they also provided a candid look at how they conducted that business during an unprecedentedly challenging time. The result is comprehensive research that allows firms to identify key metrics to consider as they plan and forecast into 2022, but also understand how they compare to competitors and peers within the industry. No other resource reviews the performance of as many internal business verticals or how they work together over the course of the contract lifecycle like Deltek Clarity.
Last year’s Clarity Survey concluded nine days prior to the World Health Organization’s declaration of COVID-19 as a global pandemic. Though Deltek’s experts were able to look at the research collected through a revised lens as the United States and countries around the world began to shut down, they had no way to predict the full impact of COVID-19. This year’s report includes an entire section dedicated to how government contractors specifically weathered the storm. More than any year, the information within the Clarity Government Contracting Survey will be instrumental to business success.
2021 Results Reveal
Key performance indicators (KPIs) were some of the heroes of 2020 for government contractors. Many firms stated that they were able to make impactful adjustments to their businesses in order to successfully pivot during the pandemic because of these insights. Data visibility and the ability to analyze and interpret effectively helped many maintain, and in some cases even improve, profitability during such a challenging year.
Deltek experts will highlight many of these metrics during an interactive virtual event series that will walk through the verticals of: Business Development; Finance and Financial Compliance; Project and Risk Management; Human Capital Management; Contract Management and Procurement; and Information Technology and Cybersecurity.
The experts will also go in depth with the state of small businesses in the government contracting market. During each session, the trends and challenges that surfaced within the results will be discussed and each expert will offer valuable commentary to help firms understand and apply this year’s benchmarks in the most impactful ways for their business.
2021 Results Preview
- Vibrancy across industries is expected to return to 2021, with more than 70 percent of respondents forecasting growth in government sales.
- Record discretionary appropriations and the government response to COVID-19 buoyed federal spending.
- Sustained levels of investment in cybersecurity and compliance are top-line business focus areas for 2021.
- Diversification of products, services and markets will continue to be vital for increasing growth.
- The need for more remote and blended workforces surfaced new demands for technology and opportunities for attracting and retaining talent.
- The pandemic forced companies to operate in new ways, creating new challenges for sourcing teaming partners.
Reserve a spot for the initial overview of market conditions, featuring highlights from the complete Clarity Government Contracting Study, during the kickoff virtual event on May 11, 2021.
Then, dive into the more detailed vertical trends by business area during a nine-part virtual series, each filled with industry expert insights and notes from government contracting firms who participated in the survey.
Kevin Plexico is Senior Vice President of Information Solutions at Deltek (www.deltek.com).