If you have a GSA Schedule or have worked with the federal government in any capacity, you have undoubtedly heard the term “NAICS Code” referenced before. But what exactly is a NAICS Code? And what is the relevance to GSA Schedules? NAICS stands for North American Industry Classification System, established in 1997 to create a standard for statistical agencies in Mexico and Canada. The purpose of creating this specific classification system was to create a universal North American standard and provide a platform by which federal statistics agencies could better analyze and publicize the collection of statistical data related to the US economy.

You may not love them as a federal contract holder, but regulations are an important part of federal government contracting. If you are not familiar with the Price Reductions Clause, now is the time to get educated if you want to avoid potentially costly consequences down the line. GSA Schedule holders can be divided into two categories, those who fall under Transactional Data Reporting (TDR) and those who are required to submit Commercial Sales Practice (CSP) information. If you need help figuring out which category you fall under, determine whether you report your GSA sales monthly or quarterly.

Within the last year and a half, GSA has beefed up opportunities for Joint Venture (JV) companies looking to acquire a GSA Multiple Award Schedule. In May 2023, GSA released Solicitation Refresh 16, which provided in depth MAS offer instructions applicable to Joint Venture companies that help entities be consistent and align with Small Business Administration (SBA) standards. These updates to the Solicitation also included clarifications for specific rules to Joint Venture GSA proposal submissions.

Acquiring and managing a GSA Schedule contract is full of decisions--first you have to decide if it's right for your company, then figure out how you are going to handle submitting the GSA Schedule offer, and lastly, how you will effectively manage your contract once it's awarded. These considerations may have led you to an ever bigger decision that may rest outside your company: Will you need to hire a GSA Schedule consultant? Most companies, unless they have extensive experience with government sales or have the resources to higher a Full Time Employee with the appropriate knowledge, consider hiring a consultant at some point throughout the GSA Schedule process.

In April, the GSA Federal Acquisition Service (FAS) issued a Request for Information (RFI) to better understand how to align Multiple Award Schedule (MAS) pricing with commercial practices. They recently posted an article on GSA Interact outlining their takeaways from this RFI, opportunities to strengthen policies, and their next steps. In this blog, we’ll go over the RFI itself, the GSA’s response, and what this means for contractors.

Managing your GSA Multiple Award Schedule (MAS) contract is not an easy task. There are many items to keep up with, which require organization, knowledge, and most of all, time. A large part of maintaining your GSA Schedule is making sure your contract is updated through various compliance requirements. In this blog, we have outlined the top 10 most forgotten updates that contractors miss when managing their GSA Schedule contract. Read further to avoid skipping over any important compliance and to be well prepared for your next Contractor Assessment Visit (CAV).