CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States today announced that its Government Contracting (GovCon) practice has published its 7th annual GAUGE Report. Recognized by many in the GovCon community as the most in-depth benchmarking survey and analysis of its kind, the GAUGE Report offers numerous insights and best practices to inform decision-making and drive success in the year ahead.
The 2023 report, themed Lead by Forecasting, underscores the pivotal role that forecasting plays in helping contractors achieve optimal business outcomes. Findings from this report demonstrate how forecasting excellence can impact the bottom line by serving as a roadmap that helps government contractors enhance operating efficiency, use resources more effectively, and plan for overall growth.
"This year's GAUGE Report is enlightening in that it reveals a major dichotomy in the GovCon industry, said Christine Williamson, a CohnReznick partner in the firm's Government Contracting practice and co-author of the GAUGE Report. While the vast majority of the 1,180 GovCons we surveyed are optimistic and focusing on growth, just one in five had an accurate understanding of the business they have in their pipelines. This underscores the vital need GovCons have for better information about future business opportunities."
Kristen Soles, leader of the Government Contracting practice and managing partner of CohnReznick's Global Consulting Solutions adds, "Adopting a forecasting mindset and leveraging available technology and tools that put forecasting at the forefront of their growth ambitions are critical steps for any GovCon organization in achieving its goals." Soles adds, "We have also learned about the critical role a centralized PMO model can play, especially as we work with contractors involved in large-scale federal funding programs like the Infrastructure and Investment Jobs Act."
To read the 2023 GAUGE Report in its entirety and learn more about how GovCons can lead by forecasting, please visit the CohnReznick website. The report also includes a special section on how GovCon small businesses can use forecasting and planning titled, "Industry Insights: How More GovCon SMBs Can Get In On Federal Contracting Action."
As in prior years, the GAUGE report was published in conjunction with Unanet, a leading provider of project-based enterprise resource planning (ERP) and customer relationship management (CRM) software for the government contracting (GovCon) industry.
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. With offices nationwide, the firm serves organizations around the world through its global subsidiaries and membership in Nexia International. For more information, visit www.cohnreznick.com.?
Unanet is a leading provider of project-based ERP and CRM solutions purpose-built for government contractors, architecture, engineering, construction, and professional services. More than 3,700 project-driven organizations depend on Unanet to turn their information into actionable insights, drive better decision-making, and accelerate business growth. All backed by a people-centered team invested in the success of your projects, people, and financials. For more information, visit www.unanet.com.