As a GSA Multiple Award Schedule (MAS) contractor, one of the most critical tasks in ensuring that your contract remains compliant is to report your GSA sales and to remit the Industrial Funding Fee (IFF). GSA contractors are required to report their sales through the Federal Acquisition Service (FAS) Sales Reporting Portal (SRP) on a quarterly or monthly basis.
Whether you are a current or prospective GSA Schedule contractor, it is vital you remain aware of any upcoming changes to the federal procurement process. A source for many important changes is the General Services Administration’s (GSA) Federal Marketplace Strategy, which aims to refine and improve the federal marketplace by reducing barriers and improving access for federal buyers and sellers.
Do you know what the real benefits of being on the GSA Schedule are? Learn the top 10 reasons (and advantages) why you should consider it.
Managing your GSA Schedule can be an arduous task. As a contractor, you are required to stay on top of constantly changing regulations, to understand and navigate difficult restrictions, and most importantly, to find and win procurement opportunities so you can meet your contract’s minimum sales requirement.
Prior to the Multiple Award Schedule (MAS) Consolidation, contractors looking to sell to the federal government would prepare offers under one of the 24 individual GSA Schedules organized by industry. In order to simplify and modernize the federal procurement process, the General Services Administration (GSA) recently made changes to how it organizes the Schedules through which federal agencies buy goods and services from contractors. Instead of 24 individual Schedules, there is now a single Multiple Award Schedule that houses 12 Large Categories.
Currently, the U.S. is dealing with the destruction caused by Hurricane Laura while Hurricane Sally makes landfall in the Gulf of Mexico. As the states attempt to recover and rebuild after these devastating storms, the country is also working to stay ahead of the ongoing COVID-19 crisis, causing government spending to rise on federal, state, and local levels. In order to acquire the goods and services that are necessary to rebuild in a quick and efficient manner, many government agencies are purchasing items from commercial businesses through the General Services Administration (GSA) Disaster Recovery Purchasing Program. This program is an essential part of ensuring the government’s response to disasters is successful, cost-effective, and timely.
Whether you’re a new GSA Schedule contractor or have been selling to the federal government for years, it’s important for you to be aware of the regulations you must follow so you can remain GSA compliant. As laws and regulations often change in the government, we are constantly informing our clients of important policy changes and helping them understand how they affect their business. One of the most recent changes was the amendment to Section 889 Federal Acquisitions Regulation (FAR) Rule.