BidPrime Quarterly Edition: 33, 2024 - Q2

BidPrime Quarterly • Aug 06, 2024

Editor: Bill Culhane.

🎉 BidPrime Celebrates 15th Anniversary

Dear Valued Clients,

Happy Anniversary to BidPrime! With immense pride and gratitude, we announce that BidPrime will be celebrating our 15th anniversary next month.

Reflecting on our journey, we remember starting small and "bootstrapped" with a vision to disrupt the status quo. We aimed to build a company with products that are efficient and user-friendly, backed by practices that treat our customers and staff the way we would want to be treated. We recognized that our market desperately needed a shake-up.

From our humble beginnings, we've worked smart and hard to evolve into the market leader. This success is thanks to BidPrime’s loyal customers and our dedicated, talented team.

Despite our growth, we pledge to always collaborate closely with our customers to design, develop, and deploy innovative technologies. Two years ago, we launched our flagship agency e-procurement system, Beacon Bid, which has made a significant impact on municipalities and states across North America. This year, we released Future Opps and Emerging Opps—powerful new contract intelligence tools built from your invaluable feedback and our unique data processing capabilities. And there's more innovation on the horizon.

As we celebrate this milestone, we look to the future with optimism and excitement. We remain committed to maintaining the highest standards of service that you expect from BidPrime and exploring new ways to support your success.

Thank you once again for being part of our journey. Here’s to many more years of growth and success. Together.

Sincerely,

Stephen CEO & Co-founder, BidPrime

Industry Analysis

🔍 Analyzing Public Sector Purchasing Activity in the U.S. and Canada: January - June 2024

Across North America, public sector purchasing activity from January to June 2024 has been exceptionally strong. This activity is driven by various government agencies, educational institutions, and a variety of other tax-funded entities, leading to marked opportunities for vendors, suppliers, businesses. Look for much more to come for the remainder of 2024. The landscape of public procurement is broad and intricate, including everything from infrastructure projects and healthcare enhancements to digital upgrades and environmental sustainability efforts. This report delves into some of the industries with the highest activity in terms of public sector solicitations and contracts, exploring the underlying reasons for this surge and the implications for stakeholders. A team of analysts combined forces to evaluate data in 2024 so far and identified the following among the most active industries.

READ MORE

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Emerging Opps: Identifying Early-Stage Opportunities

As many of you already know, including readers of our previous BidPrime Quarterly, we were excited to release our newest product: "Emerging Opps." This tool offers unparalleled intelligence to identify early-stage opportunities discussed in municipal meetings and city plans, along with pricing details on existing term contracts and forecasted budgets.

Emerging Opps: Unveiling Tomorrow's Opportunities

Emerging Opps is designed to keep you ahead of the curve. In partnership with Ontopical, we now offer integrated access to the largest dataset of meeting intelligence, featuring over 200 million pages of searchable agendas, meeting minutes, and city plans. This extensive resource includes more than 6.5 million minutes of transcribed meeting videos—equivalent to over 13 years of continuous viewing!

With our smart tagging system combined with Ontopical's AI, Emerging Opps scans and reviews millions of pages captured weekly to curate opportunity alerts and actionable summaries. This innovative approach ensures you receive relevant and timely insights, refining your bidding process and enhancing your strategic planning.

We invite you to learn more about Emerging Opps by watching our detailed video overview.

WATCH

To see firsthand how this technology can benefit your organization, sign up for a personalized introduction to the Contract Intelligence Suite, including Emerging Opps.

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BidPrime Spotlight

Launch of the ‘David and Beverly Nash Leadership Award’

Raise your hand if you are a longtime, loyal listener of ‘The Big Bid Theory’ podcast. BidPrime is proud of our connection to the show, helping to power TBBT, since its launch way back in 2014. Over those many years, BidPrime and ‘The Big Bid Theory’ production team have formed many important relationships throughout the government purchasing world across North America, and TBBT and BidPrime are excited to recognize the excellence within this community.

We are pleased to help announce the launch of the ‘David and Beverly Nash Leadership Award’, an annual accolade honoring outstanding achievements in government procurement. Many of you, particularly folks in Florida, very likely know our friends, David and Beverly Nash.

The ‘David and Beverly Nash Leadership Award’ celebrates public purchasing individuals or teams who demonstrate excellence, leadership, and innovation in public purchasing practices. This prestigious award highlights the transformative impact of exemplary procurement practices on government efficiency, transparency, and public trust. It serves as a testament to the dedication and hard work of those who strive to improve public procurement processes.

The award reflects David’s legacy and dedication to the profession and honors those who embody the values of excellence, leadership, and innovation in government procurement, setting a benchmark for others to follow. David and Beverly’s contributions have helped so many, regardless if in purchasing or business, does not matter your industry or where you’re located.

Call for nominations! Do you know a public sector procurement professional you would like to nominate? Thank you in advance and go here for MORE INFORMATION.

We look forward to celebrating the remarkable contributions of those in the government procurement field and acknowledging the impact and positive changes they bring to all of us. Keep on enjoying listening to TBBT and be on the lookout for the first ever honoree!

The Big Bid Theory

Changing government purchasing & mankind one edition of #CrazyBids at a time. Special guests discussing special topics. All of that and more. A lot more!

Changing government purchasing & mankind one edition of #CrazyBids at a time. Special guests discussing special topics. All of that and more. A lot more!

Setting the scene:💬Bill Culhane hosts a compelling episode exploring the intersection of government procurement, technology, and artificial intelligence (AI). In this episode, we unravel the innovative solutions crafted by Beacon Bid and BidPrime, under the guidance of Stephen Hetzel, co-Founder and CEO.

Begin by unraveling the genesis of BidPrime and Beacon Bid, where Hetzel shares how their backgrounds in government and technology illuminated the inefficiencies plaguing the procurement process, leading to the creation of transformative platforms. Through their experience aggregating agency solicitations and empathizing with the struggles of small to medium-sized enterprises, they identified a glaring gap in the market.

Next, delve into the challenges faced by government agencies in procurement and how Beacon Bid addresses them head-on. From limited resources to outdated methods, agencies grapple with hurdles that hinder efficiency. Hetzel sheds light on Beacon Bid's mission to improve tools available to agencies through user-friendly platforms and data products, fostering a more streamlined and inclusive procurement landscape.

In the realm of contractor and vendor engagement, BidPrime unveils its cutting-edge "Contract Intelligence Suite," comprising Future Opps and Emerging Opps. Hetzel unveils the transformative potential of these tools, from extracting insights from historical data to leveraging AI to identify emerging opportunities before they hit the market. The integration of Ontopical's data further enhances BidPrime's arsenal, empowering businesses to stay ahead in the competitive SLED public sector.

Moreover, explore the applications of these tools for government agencies, from accessing BidPrime's extensive bid document archive to harnessing AI-driven insights for informed decision-making. The conversation culminates in a visionary outlook on the future of government contracting, underscored by the pivotal role of AI in driving efficiency, transparency, and innovation.

Finally, peek into Hetzel's upcoming speaking engagements at NIGP Forum and the International City/County Management Association (ICMA), where he delves deeper into the transformative potential of data and AI in shaping the future of procurement and government operations.

As always, Rick Jennings closes down the episode with the latest Crazy Bids. Appropriate to the theme of this episode, this latest installment of Crazy Bids has to do with the use of Artificial Intelligence.

Tune in, and don't forget to share, to gain invaluable insights into the evolving landscape of government procurement and the transformative power of AI-driven innovation.

Go here for more information about Beacon Bid.

⏱️Just the basics:

Click below to LISTEN.

Click below to WATCH interview.