If you’re a supplier that sells to public entities, you should care about shareable contracts (known in the industry as cooperative contracts or piggyback contracts) because shareable contracts can help you sell faster, at a lower cost, to more public entities.
Here are the benefits of selling using a shareable contract for your business:
- Sell faster: A shareable contract enables you to sell to public entity customers in weeks or days, instead of months. Since shareable contracts meet the formula solicitation requirement, you can use a shareable contract to avoid repeating the arduous process of responding to solicitations and just close the sale.
- Lower your sales costs: Since selling off a shareable contract is faster and does not require responding to a solicitation, utilizing shareable contracts to sell to public entities will lower your cost of acquiring government customers.
- Acquire new customers: Shareable contracts can help you sell to new customers, including public entity customers of different sizes. Many businesses only respond to solicitations from large public entities, since the cost of responding to opportunities is high. By selling off a shareable contract, you can win business from smaller customers without going through a new formal solicitation process. You can also receive inbound inquiries from public entity customers who see your ability to sell using a shareable contract as an advantage.
The extra effort required to win a shareable contract is minimal - in fact, if you’ve won a formally solicited contract from a public entity, you may already have been awarded a shareable contract.