Unanet and CohnReznick LLP have collectively released the fourth edition of the Gauge Report, an annual survey that reveals the best practices and benchmarks of the government contracting (GovCon) world each year. The 2020 GAUGE Report is available for download right here.
The 2020 report gathered its data from a pool of nearly 1,500 government officials that provided a variety of perspectives, highlighting the significant impact that COVID-19 pandemic has had on the GovCon sector in 2020. The respondents also provided insight to the initiatives from federal agencies including new regulations, emerging technologies and more.
Based on the respondents’ feedback, the Gauge Report 2020 analyzed that 84 percent of the GovCon officials surveyed were optimistic about their businesses in early March, but that number fell to 68 percent after the start of the current pandemic.
In addition, the report revealed that 59 percent of respondents claimed that more than 76 percent of their projects are on or under budget, while 55 percent reported that their resource management falls at a high level of maturity, which is an improvement from previous reports.
The 2020 GAUGE Report also found that 53 percent of those surveyed currently use a project-based enterprise resource planning (ERP) system, 18 percent use an entry-level system and 29 percent rely on generic ERP tools.
“These concerns and sentiments are to be expected given the current economic climate,” said Kim Koster, VP of GovCon Strategy for Unanet, co-author of the GAUGE Report and GovCon Expert. “However, what stands out is the relative comfort among businesses that have adequately prepared for variables through strong technology investments and operational efficiencies,” Koster added.
One of the major takeaways from the report was that GovCon’s success in a post-COVID-19 world is “empowering teams to be productive in any setting and adapting quickly to new ways of operating” through the use of technology.
“The takeaways from this year’s GAUGE Report show that technology is helping government contractors weather this regulatory, COVID and economic storm,” said Christine Williamson, partner of CohnReznick and co-author of the GAUGE.
“We’re seeing the positive effects of many GovCons using technology to help run their businesses. However, not all are truly using it to run their businesses better. There is extensive opportunity and upside for GovCons to leverage technology to empower their team, be more productive, and improve competitiveness.”
Unanet is a leading provider of ERP solutions purpose-built for Government Contractors, A/E, and Professional Services. More than 2,000 project-driven organizations depend on Unanet to turn their information into actionable insights, drive better decision-making, and nurture business growth.
As a leading advisory, assurance, and tax firm, CohnReznick helps forward-thinking organizations achieve their vision by optimizing performance, maximizing value, and managing risk. Clients benefit from the right team with the right capabilities; proven processes customized to their individual needs; and leaders with vital industry knowledge and relationships.