Featured Article: GovSpend Connects Businesses with Purchase Card-Equipped Agency Professionals Spending $20+ Billion a Day
The U.S. government purchases a staggering number of products and services from companies across the country each year. On the federal level, more than 90,000 different agencies combine to spend over $4 trillion a year on products and services.
Those numbers don’t take into account extra COVID-19-related federal spending or the $3 trillion in purchasing that occurs at the state and municipal levels. All told, public agencies spend a monumental $7 trillion or more every year.
Some businesses rightly view the government as a substantial prospective customer. Still, many shy away from engaging with the government because they view it as an overburdened and cumbersome bureaucracy.
GovSpend shows businesses how to easily engage with government agencies instead of leaving opportunities and money on the table. The platform’s database can make researching and contacting government sales prospects easier than it is in the private sector.
At many of those agencies, professionals equipped with special purchasing cards known as P-cards buy the goods and services they need to implement and administer programs and initiatives. That means contacting the right person could get the ball rolling on a lucrative new client.
The law requires government agencies to disclose what they buy and how much they spend. GovSpend has innovated technology that automates the process of wrangling a large amount of publicly available data into its robust set of ecommerce tools.
“The unique part of what we do is our ability to ingest that public data, parse it, and normalize it into a solution that works like Google,” Co-Founder and Chief Revenue Officer Jack Siney said. “Even after 10 years, we don’t have a competitor.”…