On October 17th, Paige Mockler and Kathryn Sanders hosted a webinar highlighting exciting product and data enhancements and upcoming releases to the GovSpend platform. For those who missed it or want a quick rundown, here’s a comprehensive recap.
Key Data Milestones and Updates
GovSpend’s 2024 Data Harvesting Accomplishments To Date
We’ve made significant strides in expanding our data coverage this year:
- 20% increase in purchase order data for local government and K-12 school districts.
- 25% increase in contact coverage, reaching over 8.7 million contacts.
- 21% growth in contract coverage, with more than 604,000 active contracts.
- A notable 23% improvement in the inclusion of bid documents.
These efforts ensure that GovSpend clients can access a larger and more comprehensive set of data, prioritizing the agencies they most care about such as local governments, school districts, and higher education institutions.
Interactive Data Map
A new, interactive map on the GovSpend website now provides real-time statistics on open bids, active contracts, PO line items, agency contacts, and meetings. This tool allows users to visualize the vast data sets available on the platform, narrowing them down to the state level.
Exciting Product Enhancements
AI-Powered Search Assistance
We’ve introduced a new AI-powered feature to refine search results. Users can now use the “Lightbulb” icon available in any search bar, to generate keyword suggestions based on their initial input, helping to discover more relevant search terms.
New Filters for Enhanced Data Analysis
- Population Count Filter: A highly requested feature, this filter allows users to segment local governments by population, helping target opportunities based on agency size.
- UNSPSC Filter: Powered by AI, this filter assigns standard product and service codes to line items in purchase orders, offering another method to more efficiently search and refine results.
Customizable Alerts
To address feedback about the overwhelming number of alert emails, we’ve revamped the GovSpend alert system. Now, users can customize the frequency and format of alerts—choosing between daily, weekly, or immediate alerts. Additionally, users can opt for a “digest” format to consolidate alerts into fewer emails.
Meeting Intelligence and AI Summaries
GovSpend’s Meeting Intelligence module, launched in early 2023, continues to grow. With over 1.3 million public meetings transcribed, this tool allows users to search for meeting content discussing relevant topics like budgets, vendor evaluations, and upcoming opportunities.
A new feature—AI-generated meeting summaries—provides concise overviews of meeting discussions, helping users quickly determine the relevance of a meeting without diving into hours of content.
CRM Integration
One of the most exciting developments shared during the webinar is the upcoming CRM integration feature. This integration will enable seamless data transfer between GovSpend and CRM systems like Salesforce and Microsoft Dynamics, allowing users to:
- Map GovSpend data (e.g., bids, contracts, contacts) directly into their CRM.
- Automate data flows and push updates to the CRM in real time.
- Track ROI by tagging opportunities sourced from GovSpend within the CRM for easy performance review.
Beta testing for the integration is set to begin in November, with a wider release expected in early 2025.
What’s on the Horizon?
Looking ahead, we plan to expand our data collection to include more niche agencies such as local libraries, public hospitals, and utility agencies. Additionally, we plan to introduce new filters for student enrollment data and AI-powered opportunity scoring, which will rank bids based on relevance, saving users time in finding the best opportunities.
Final Thoughts: Enhancing Your Experience
This webinar highlighted GovSpend’s commitment to improving our platform based on customer feedback. Whether it’s through expanded data sets, AI-powered tools, or enhanced integration capabilities, the goal is to help clients access and action relevant information faster and more efficiently. We recognize that feedback and enhancement requests from our clients are crucial for driving these updates. We continue to welcome your feedback and suggestions for ways to improve working with the government through the use of GovSpend.
Want to learn more? Request a demo with our sales team, or reach out to support@govspend.com for assistance.
This blog post highlights GovSpend’s Product and Data Enhancements webinar, spotlighting the most important updates and new features,. Stay tuned for more exciting developments as we continue to evolve the GovSpend platform.
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