SEATTLE, May 25, 2016 /PRNewswire/ -- Onvia (NASDAQ: ONVI), the leader in government contracting business intelligence announced the availability of the Onvia Survey of Government Contractors: Selling into the B2G Market in 2016-17. This 2nd annual edition of the survey includes a new forward-looking index that helps businesses track and understand the pulse of the procurement market in the coming year.
Key findings from the report include:
- A majority of vendors expect growth in their government sales revenue
- Effective sales and marketing will be key to realizing the potential of this market
- Companies do better if they sell into multiple levels of government
- The Onvia Government Contractor Confidence Index (GCCI) describes overall market potential as positive despite being slightly lower than 2015
"Onvia is committed to bringing clarity, intelligence and efficiency to buyers and sellers in the business-to-government space," says Alberto Sutton, Vice President of Marketing at Onvia. "Our annual survey and the GCCI index help B2G vendors understand the opportunities and trends in this marketplace."
The Onvia Government Contractor Confidence Index (GCCI) is designed using input from contractors regarding business growth and expectations for how agency budgets are likely to impact their government sales. The components are as follows:
- Recent change in government sales
- Expected change in government sales
- Impact of agency department budgets on sales
- Impact of overall agency budgets on sales
The index is based on a 0-200 scale, where 0 means "extremely low confidence," 100 means neutral and 200 means "extremely high confidence." Scores above 100 generally point to an expanding market for government contractors.
The 2016 Index Score
The current index is 129.4, which is well above the midpoint of 100 – suggesting that the amount of optimism or confidence in the government contracting marketplace is consistent with a scenario of further growth over the coming year as opposed to merely a sideways or flat direction. This is 4.2% lower than last year's score of 135.1. All four of the individually weighted components were slightly lower for 2016.
Lead market analyst Paul Irby explained, "In selecting the inputs to the index, our goal was to measure overall confidence in the ability of government contractors to grow over the next 12 months. To do that we created the GCCI, a broader index that reflects key factors affecting business and planning decisions."
Onvia invites the public to review the full report here.
For over 15 years, Onvia (NASDAQ: ONVI) has been delivering the data and tools companies rely on to succeed in the government contracting market, and agencies rely on to streamline and improve the procurement process. Onvia tracks and reports the spending of tens of thousands of federal, state and local government agencies, giving companies a single comprehensive source for conducting business with government.
For information about Onvia, visit http://www.onvia.com
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