Once your GSA Schedule contract is approved, you gain direct access to federal buyers and a $45 billion annual market. Here’s what to do next:

• Set Up Your Contract: Ensure your SAM registration is current and activate tools like eOffer and eMod to manage and update your contract.
• Complete Required Training: Understand your responsibilities and federal processes by finishing GSA’s mandatory training.
• Stay Compliant: Update contract details (pricing, products, contacts) promptly in eMod and submit quarterly sales reports and Industrial Funding Fee (IFF) payments on time.
• Market to Federal Agencies: List your products on GSA Advantage! and monitor GSA eBuy for opportunities.
• Track Performance: Regularly evaluate sales metrics and maintain compliance to maximize your contract’s potential.

Key Reporting Deadlines:

Keeping your GSA Multiple Award Schedule (MAS) Contract …

First Steps After Approval

Once you’ve secured your GSA Schedule contract, it’s time to set things in motion. Here’s how to get started and make sure everything is set up properly.

Setting Up Your Contract

First, double-check your SAM registration to ensure it’s current. Then, activate your access to GSA’s digital tools, like eOffer for managing your contract and eMod for making updates. These systems are crucial for keeping your contract up to date.

Required GSA Training

Make it a priority to complete the required GSA training right away. This training helps you understand your responsibilities under the contract and ensures you’re prepared to work effectively with federal agencies.

Contract Management Requirements

Managing contracts effectively is crucial for maintaining compliance and ensuring smooth federal operations.

Updating Contract Information

Keeping your contract details up to date is essential for staying compliant. Use the eMod system to make modifications such as:

• Adjusting prices or making economic price adjustments
• Adding or removing products or services
• Updating company details (e.g., address, points of contact)
• Changing business size status
• Updating the contract administrator

Submit these updates promptly to avoid compliance issues. Administrative modifications, like updating contact information, are usually processed within 15-30 days. More complex changes, such as adding new products, may take 30-60 days.

Next, ensure you meet the requirements for sales reporting and fee payments.

Sales Reports and IFF Payments

Quarterly sales reports and Industrial Funding Fee (IFF) payments are necessary to keep your contract active. Accurate reporting is critical for maintaining your contract.

Sales Reporting Schedule:

The IFF is 0.75% of your total GSA Schedule sales. Even if you don’t have sales during a quarter, you’re required to submit a "zero sales" report via the Federal Acquisition Service (FAS) Sales Reporting Portal.

Here are the key steps for compliance:

• Double-check your sales figures before submitting reports
• Submit reports on time to avoid contract cancellation
• Keep detailed records of all GSA Schedule transactions
• Complete IFF payments within 30 days after the end of each quarter

sbb-itb-8737801

Growing Your Federal Sales

Building a strong federal sales pipeline is key to tapping into the opportunities available through the GSA Schedule program.

Marketing to Federal Agencies

With fewer competitors in the federal market, your chances of winning contracts can improve. To stand out and increase your sales potential, try these approaches:

• List on GSA Advantage!
  GSA Advantage! is the official online marketplace for federal buyers. Make sure your listings are detailed, including descriptions, pricing, and delivery information, to make it easier for agencies to purchase your products or services.
• Check GSA eBuy Regularly
  GSA eBuy is a platform exclusively for GSA Schedule holders. By monitoring it frequently, you can quickly spot and respond to relevant opportunities.
• Simplify Your Sales Process
  A GSA Schedule eliminates many marketing and negotiation hurdles by setting pre-determined contract terms. This allows you to focus on building strong relationships with government buyers.

Getting professional help with contract management can also ease the workload and make it simpler to grow your federal sales.

Professional Contract Support

Managing a GSA Schedule contract while expanding your federal sales involves staying compliant with regulations and actively pursuing new opportunities. Professional assistance can help you handle federal procurement rules, maintain compliance, and scale your sales efforts while reducing administrative strain.

For instance, businesses partnering with GSA Focus have reported adding around $927,000 in steady revenue to their bottom line. This growth comes from several advantages:

Success in federal sales takes dedication to understanding and meeting the specific needs of government buyers. It’s a long-term effort but one that can yield reliable results.

Long-Term Management Tips

Keeping Up with GSA Policy Updates

It’s essential to stay updated with GSA policies to ensure your contract remains compliant. The federal procurement process often changes, requiring contractors to review extensive documentation – sometimes more than 100 pages – before new policies are finalized.

Here’s how to manage policy changes effectively:

• Check the Federal Register and GSA’s official website regularly for updates.
• Review and adjust your contract terms to align with the latest compliance standards.

Once your policy compliance is in order, it’s time to focus on evaluating your contract’s performance.

Evaluating Contract Performance

Tracking key performance metrics is critical to getting the most out of your GSA Schedule. Josh Ladick, President and Founder of GSA Focus, emphasizes the importance of this:

"Every day you’re not on GSA, you’re missing out on $50m+ in opportunities".

Here are some long-term benefits of federal contracting:

• Stable demand: Government spending tends to remain steady during economic downturns.
• Reliable revenue: Building strong federal relationships can lead to consistent income streams.
• High ROI potential: Top-performing contractors report an average return of 87x.

If managing these complexities feels overwhelming, professional contract management services can help. They allow you to focus on your core business while maximizing federal contracting opportunities.

Summary

A GSA Schedule contract provides access to more than $45 billion in federal sales each year. With only 4% of small businesses holding one, managing this contract well can give you a major advantage.

To make the most of your GSA Schedule, focus on these three areas:

Compliance and Updates

• Keep an eye on Federal Register announcements and changes in GSA policies.
• Ensure your contract information is always up to date.
• Submit sales reports on time.

These steps help create a solid foundation for increasing your sales.

Sales Growth

The federal market offers low competition – 44% of awards receive just one bid. Contractors who succeed in this space often:

• Actively promote their services to federal agencies.
• Prioritize client satisfaction to build strong relationships.

Performance Tracking

Tracking your performance regularly is crucial. For example, GSA Focus clients typically see an average ROI of 87x and add about $927,000 in federal sales.

Effectively managing your GSA Schedule involves staying compliant, marketing strategically, and monitoring your progress. These efforts are key to achieving long-term success in federal contracting.

FAQs

What compliance challenges do businesses commonly face after securing a GSA Schedule contract, and how can they address them?

After securing a GSA Schedule contract, businesses often encounter compliance challenges related to pricing, reporting, and contract updates. These issues can lead to penalties or even contract termination if not properly managed.

To avoid these problems:

• Pricing: Ensure your pricing remains consistent with the terms of your contract and any updates are approved by the GSA.
• Reporting: Submit accurate and timely sales reports, including the Industrial Funding Fee (IFF), as required.
• Contract Updates: Regularly review your contract to ensure all product or service offerings, pricing, and terms are current and compliant.

Staying proactive and maintaining detailed records can help you manage these responsibilities effectively. For added support, consider working with experts who specialize in GSA Schedule compliance to streamline the process and minimize risks.

What steps can a business take to successfully market to federal agencies after securing a GSA Schedule contract?

After securing a GSA Schedule contract, businesses can significantly enhance their visibility and credibility with federal agencies. To market effectively, focus on these key strategies:

• Leverage GSA Advantage!: Ensure your products or services are listed and optimized on the GSA Advantage! platform, where government buyers frequently search for vendors.
• Build relationships: Reach out to agency procurement officers and decision-makers to introduce your business and highlight how your offerings meet their needs.
• Target opportunities: Use tools like SAM.gov to identify and bid on relevant federal contracting opportunities tailored to your capabilities.

With less competition compared to the commercial market and many government awards receiving only a single bid, a proactive marketing approach can help your business stand out and capture new federal contracts.

How can businesses maximize sales and ROI with a GSA Schedule contract?

To get the most out of your GSA Schedule contract, focus on strategies that enhance visibility and streamline processes. Develop a strong marketing plan to promote your contract to federal buyers, highlighting your unique offerings and competitive pricing. Leverage the GSA Advantage! platform to showcase your products or services and make it easier for agencies to find you. Additionally, maintain compliance and update your contract regularly to reflect market trends and new opportunities.

By reducing marketing costs, shortening sales cycles, and tapping into steady federal demand, businesses can significantly boost their return on investment. Consistent effort and strategic planning will help you unlock the full potential of your GSA Schedule contract.

Related posts

• How to Manage GSA Contract Performance
• Common GSA Compliance Mistakes And Fixes
• GSA Post-Award Checklist for Contractors
• Ultimate Guide To GSA Contracting Results