How emerging technologies are changing government contracting

Source: FEDSCOOP

As governments strive to adapt to digital advancements, integrating emerging technologies becomes paramount—particularly for the future of contracting.

In a new video for FedScoop, Sean Garcia, director of professional services for the public sector at Icertis, shares his insights on the top trends influencing government contracting and how solutions like contract intelligence and management are revolutionizing the landscape.

Among the trends he discusses are increased focus on cybersecurity compliance, the pursuit of meaningful predictive analytics and integrations between the buy and sell side, as well as the rise of contract lifecycle management systems with generative AI.

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Report: Federal Government Awarded Record $765B in FY 2023 Contracts

Source: GOVCONWIRE

A HigherGov analysis of government contracting activity showed that federal contracts awarded in fiscal year 2023 reached a record high of $765 billion, reflecting a 9.5 percent growth from FY 2022.

The market research company said Wednesday the increase was driven by the exercise of options associated with F-35 fighter jet production, rebound in construction spending and direct and indirect awards related to weapons supply in support of the war in Ukraine, among other factors.

According to the report, contract awards at the Department of Defense rose by 11.5 percent from $422 billion in FY 2022 to $470 billion in 2023, accounting for 61 percent of total federal contract awards in FY 2023.

The Navy saw the largest jump in contract awards in 2023, recording $154 billion. HigherGov attributed the growth to aircraft manufacturing, engineering services, shipbuilding and repair and navigational equipment.

The last fiscal year witnessed a slight increase in the number of contractors receiving DOD awards, rising from 37,057 contractors in FY 2022 to 37,092 vendors in FY 2023.

The value of contracts awarded by civilian agencies also rose 6.3 percent to $295.1 billion in FY 2023, up from $277.5 billion in FY 2022.

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Another government shutdown deadline is nearly here. Here’s what to know.

Source: WASHPOST

Congress is lurching up against another deadline to prevent a government shutdown, with lawmakers set to vote on a short-term federal funding bill — the third in four months — by the end of the week.

House Speaker Mike Johnson (R-La.) and Senate Majority Leader Charles E. Schumer (D-N.Y.) have reached a $1.66 trillion to finance the government for the 2024 fiscal year, but Congress has run out of time to pass that complex proposal before federal funding expires at 12:01 a.m. Saturday.

Instead, leaders in both chambers say, Congress needs to pass a short-term spending measure, called a continuing resolution, or CR, to keep the government open. But far-right House Republicans, furious with Johnson for cutting a deal that does not cut spending, are hinting they may throw obstacles in the way — pushing the country again to the brink of a costly government shutdown.

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