Administration Announces New Better Contracting Initiative
The Biden-Harris Administration is launching the Better Contracting Initiative (BCI) as part of the Federal Government’s next enterprise approach phase. This initiative is geared toward transforming the purchasing landscape, ensuring better terms, improved pricing, and a deliberate focus on engaging small and disadvantaged businesses. The primary goal is to optimize government spending, especially in procuring common items like IT products and services.
One facet of this initiative is leveraging data sharing across federal agencies. By capitalizing on data, standardizing software licenses, improving contract requirement procedures, and instituting enhanced evaluations for high-risk contracts, as much as $10 billion in annual savings can be achieved.
The BCI focuses on reforming the entire procurement process. The goal is to mitigate risks on high-risk contracts and ensure agencies can negotiate favorable deals in challenging situations.
Overall, the BCI aligns with efforts to enhance diversity and innovation in federal procurement while modernizing workforce development opportunities to keep pace with the ever-evolving procurement landscape. This initiative strives to save billions annually and improve the efficiency and efficacy of federal contracts.