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Tag Archives: Level III

The GSA Initiative: Lowering Costs and Increasing Competition

It’s the beginning of a new year. Out with the old and in with the new as the mantra goes. It’s that time when we look for a new start, a different way of thinking, thoughts about how to improve our business, etc.

Recently, a blog written on January 10th by Dan Tangherlini , Acting Administrator, General Services Administration, titled GSA to Launch 10 Strategic Sourcing Initiatives, spells out the new, upcoming initiatives of strategic sourcing and the plans to… Read More »

Government Contractor Lending Programs: Another Arrow in the Quiver for Banks

Many banks, especially in the Washington, DC area, have developed special programs for lending to federal contractors.  These include Virginia Commerce Bank, John Marshall Bank, First Virginia Community Bank, Capital Bank, Virginia Heritage Bank, Sandy Spring Bank, Xenith Bank, United Bank, Access National Bank, Cardinal Bank, Bank of Georgetown, and Freedom Bank of Virginia.  These institutions understand that working with businesses that have the government as their main customer requires specialized knowledge and expertise.

Washington Technology had an article about one… Read More »

A GOVERNMENT CONTRACTOR’S SURVIVAL MAY DEPEND ON CUTTING COSTS

In a recent blog (http://www.govloop.com/profiles/blogs/best-value-means-low-price) at GovLoop, Jaime Gracia writes that:  “A recent protest decision . . . illustrates the reality of the federal budget: price is the most important factor in source selection decisions.”  And : “Firms will need to tighten belts even further, as cutting the margins to the bone is the only way firms can expect to win business.”   It is evident that cutting costs by as little as one percent could mean the difference between… Read More »

The Confusion Behind Level 3

Often times when the subject of level 3 processing comes up, a blank stare and glazed eyes all of a sudden come to life. Many government contractors just don’t understand the nature of how credit card transactions qualify with the credit card processing networks, let alone how the money magically appears in their bank account or how the fees that they are charged for those transactions are calculated.

While Visa/MasterCard Interchange tables, the mechanism that determines how much the card transactions… Read More »

All Financial Processes Are Not Created Equal

ERP systems, credit card processors, online payment gateways – these understandably are not the sexiest topics for many people. And as a consumer, there is little incentive to understand how these backend processes work, since the merchant pays the fee.

But if you’re a government contractor, not understanding how financial processing works can be very damaging. It means you’re probably doing a disservice to your government customer and to your own bottom line.

This post will give a high level overview of… Read More »