True that IT contracts are one of the most sought after federal contracts to bid for, but you can’t actually participate without having a GSA IT 70 Certification. It’s a premium category of the MAS (GSA Schedule) Program that deals with IT Services, Hardware, Software, and a variety of specialty IT offerings. Previously known as IT Schedule 70, this is one of the largest government contracts, and is presently known as GSA IT 70. For decades, this segment of the federal contracts have been the key revenue sources. Today, it drives more than half of the government sales happening across the country every year.
This is a Multiple Award Schedule (MAS) contract under the GSA Schedule Program.
In terms of contract’s nature and scope of work, it’s called an Indefinite Delivery Indefinite Quantity (IDIQ). The concept is straightforward. These IT contracts are not associated with any figures or dollars, but become a channel for sales to flow through (i.e. a License to hunt). Needless to say, this GSA IT 70 is going to be a major procurement vehicle for IT products, software and Professional Services in the domain of federal business.
Is it Crucial?
As already mentioned IT contracts come under the premium segment of the federal contracts and to ensure a long term revenue source, businesses often look for this contract. With a GSA IT Schedule 70 Contract, vendors and the contracts both can expect extended business prospects, in terms of selling IT products, software, and other related services. GSA IT 70 is the most premium and biggest contract program under the jurisdiction of the GSA Schedules Program both by sales and the competition. Statistics reveal that the average amount of revenue generated from the GSA IT70 contracts is about $3.1 million per year.
Mostly, the Schedule 70 Contract is intended for the federal buyers. These IT contracts are released in the Cooperative Purchasing and Disaster Recovery programs, and the State, Municipal and Local government agencies can purchase through these bidding programs. Moreover with the new rules and regulations of GSA IT70 in place, IT purchases have become effortlessly simplified. No doubt, this IT Schedule is offering a top-notch revenue source to the vendors at a reduced time and money.
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