The Importance of Participating in Industrial Days
Engaging with the Government and the events organized by the Federal agencies related to their released request for proposals is an essential step in establishing a healthy collaborative relationship. This way, both parties attempt to develop effective communication and engagement in advance of and during the acquisition process.
Industry days are events held by Federal agencies to present their requirements and plans for a present or a future procurement to the potential contractors, or their representatives. These events are organized in order for the industry to gain a better understanding of the needs of the Government. Generally, they are held prior RFP release or any significant change in the solicitation, such as the scope of work or statements of objectives.
Each year, Federal agencies organize open house events to promote their business opportunities. They usually post them in FedBizzOpps. Participating in Industry Days is very important for all businesses that are considering entering the federal competitive marketplace, including small business set-asides. The ever-changing needs of the federal agencies constitute a major challenge for businesses, making it difficult for them to anticipate their requirements and expectations.
The core purpose of Industry Days is to bridge the information gap between the Government and their potential contractors by giving them direct communication to the federal agencies. The importance of participating in these events lies in the fact that companies have the chance to make a self-assessment of their internal capabilities against customer’s requirements. In addition to having direct access to the buyer, you’ll also have the opportunity to see who your competitors are.
Industry Days Goals
By bringing together a variety of prospects in industrial days, the Government aims to accomplish certain goals. First of all, they focus on ensuring cooperation between a Federal agency’s program office and Industry representatives. They assess prospects’ comments and consolidate them into the request for proposal development. These events have a special significance for the Government because it enables them to:
- Effectively communicate program’s schedule, requirements, needs and expectations
- Gain a better perspective on present innovative developments in their industry
- Communicate new information or changes about future acquisition process
How will it help in preparing the proposal?
Industry days are an excellent opportunity for businesses that are thinking to compete for a certain contract award. Apart from the fact that you will learn a lot about the government’s expectations towards the contractors, you will receive information that will help you prepare your proposal.
By attending, you can also acquire information about programs, initiatives, demands, and upcoming challenges that lead you to identify new opportunities to fill your pipeline. Furthermore, the network that these events provide including the chance you have to identify your competition, will enable you to gain competitive advantage. Your representatives will provide your proposal development team with resources so they can build a compelling action plan. After implementing a strategy to win and preparing an appealing solution you will be able to successfully respond to the RFP.
Bonus Tip: No matter how familiarized you are with the Federal agency or the contract that you’re looking to compete for, participating in Industry Days will absolutely add value in your proposal preparation process and increase your chances of winning the contract award.