SC&H Group’s Third Annual GovCon Summit Shared Expertise on Government Contracting Best Practices, Creating Deal Value and Emerging Trends
What legislative and executive initiatives will drive the government contracting industry this year? What priorities does the 2020 budget indicate? How can contractors navigate a path to success in this rapidly changing industry? How far in advance should an organization begin planning for a sale and if so, what are top 3 things to consider even if just starting out?
SC&H Group joined fellow government contracting industry experts to answer these questions and more at our 3rd annual GovCon Summit, held on October 17th in McLean, VA at the offices of Womble Bond Dickinson in the new Boro Tower.
Pete Ragone, Director, SC&H Group served as a moderator to the two panels that shared insights into the ever-evolving landscape of government contracting. The current trends panel discussed the impact of price bidding restrictions on value, contract consolidation and best practices. The panel helped participants navigate challenges such as interpreting OTA requirements, implementing cybersecurity compliance measures, planning for the potential impact of agency budget cuts and hiring in a tight labor market. Additionally, they discussed best practices in the industry and the types of teams and systems contractors should have in place throughout each stage of the contract, from accounting and human resources to contract management and purchasing.
The second panel of the day answered many of the best ways to create deal value and other common questions received when approaching or considering a M&A transaction. When and how to start preparing for sale? Who should be involved in due diligence, briefings, etc. – how and when should you get the right people involved prior to getting to the completed sale point? One of the most interesting considerations shared: the importance of positioning current owners/executive teams to be conscious of how things change after a sale. Defining what their “new role,” looks like and how to make the new combined companies a success is critical to the M&A process.
After the sessions concluded, attendees and sponsors spent the evening networking and recognizing approximately20 companies (4-5 each ) in the following categories:
- An Impactful Government Contractor (applicable for companies that participate in a/the mentor-protégé program) – Government contractor that has made significant contributions to the government contracting industry through mentoring, business partnerships, philanthropy, advocacy and dedication to its core mission.
- An Innovative Government Contractor – Government contractor that is consistently being innovative in the market.
- A Visionary Government Contractor – Government contractor that is impacting the market and growing rapidly.
- A Contractors Supporting the Military – Government Contractor who are truly dedicated to supporting the military effort.
Pete Ragone noted at the event: “government contracting work requires businesses to keep their ears to the ground in a changing climate. This industry presents unique opportunities and challenges, and government contracting firms need to stay on top of these to thrive in this competitive market. SC&H Group, and fellow sponsors, are honored to continue to support government contractors’ efforts through providing valuable and timely insights at the GovCon Summits now, and in the future.”
A big thank you to all of our sponsors: