Rockville, MD (PressExposure) June 01, 2008 -- Leading Federal market research and Federal contracts intelligence provider fedXccel is reporting that Federal Agencies are increasing procurements of products and services through credit cards. In 2007, over $18.6 billion worth of purchases were made with a significant portion of spending occurring during the fourth quarter. Businesses looking to succeed in the Federal market should take a close look at the Government Credit Card program to accelerate sales.
fedXccel hosted a free webinar on how companies can take advantage of purchase card contract opportunities. The webinar included a presentation by Ms. Mirinda Jackson, Former Deputy Associate Administrator for GSAâs Office of Enterprise Development. "Companies need to take a hard look at the opportunities presented by GSA's SmartPay program - too many companies keep trying to swing for the fences going for large deals, missing a significant market opportunity presented by the P-card program", said Ms. Jackson.
Federal agencies are constantly increasing the threshold of procurements that can be made using the Government credit card program.
The Federal Purchase Card program generated over 24 million transactions in 2007 with a dollar value of over $18.6 billion. The program has continued to grow year after year showing a robust 5% increase in 2007,â said fedXccel chief Gaurav âGPâ Pal. âOur research shows that the Federal purchase card market is an attractive proposition for Value-Added Resellers, Medical Equipment and Product Suppliers. There are also significant opportunities for Merchant Account and Credit Card Gateway processing companies that provide the infrastructure for processing cards.â
Companies looking for growth in a soft economy would do well to look at a steady and sizable market that continues to grow,â said Gaurav. âCompanies must do their homework and develop effective marketing strategies. With over 280,000 purchase card holders â a cold-calling strategy drains limited resources. A comprehensive marketing strategy based on buyer intelligence can improve the return on marketing investment.â
fedXccel has released a research report titled âWin Big with Micro Contractsâ that provides detailed analysis on Agency spending, Product/Service mix, Small/Large Business share, Setasides and Socio-economic composition to help businesses understand this steadily growing market. The report is available for FREE to members of the media and non-profit associations. Please send an email to email@example.com requesting the report. If you are with the media and want to interview the analyst behind the report please call (877) FED 2WIN. Press Release Distribution by PressReleasePoint (www.pressreleasepoint.com)
For more information on how your business can succeed in the Federal Contracts market, schedule a free custom consulting session with an experienced Federal Business Specialist at (877) FED 2WIN.