EMERGING TECHNOLOGY,GOVERNMENT BUSINESS

Bidscale: A Software Solution for Modernizing and Accelerating Government Procurement

Bidscale | August 17, 2022 | Read time : 02:32 min

Bidscale News
Bidscale is announcing the public launch and refresh of their flagship software, Bidscale Select.

Federal contracting is the backbone of America. From combat helicopters to scientific research, contracts underpin the operational effectiveness of our country. Contracting is big business, with $680B spent annually. Quick and smart government procurement leads to a stronger and more prosperous America.

The current process is burdened by a lack of digitization resulting in a five-to-seven-year timetable from contract conceptualization to award. This stifles the Government's ability to obtain the latest and greatest innovation. For example, if it takes five years to buy a three-year-old combat system, by the time it is purchased and implemented, the technology would be at least eight years old.

Bidscale has proven that the slowdown comes from a lack of tools necessary for Contracting Officers. These officers need to advance away from the usage of pens, highlighters, and post-it notes and move into the digital realm where collaboration, communication, and effective workflow tracking occur all in one place.

Addressing this situation has garnered bipartisan support, illuminated by the AGILE Procurement Act, a reformation that enhances agile technology acquisition across the Federal Government. Bidscale is addressing the situation too, saving time by digitizing the source selection process. Through a secure environment, Bidscale supports the full lifecycle of source selection activities including proposal submission, evaluation, consensus, reporting, and artifact generation.

It can take weeks for a Contracting Officer to compile and export source selection artifacts, but Bidscale does it in under ten seconds, and that is just one of the many features.

"I'm very proud to have seen Bidscale already successfully implemented during several major Federal Government source selection processes, this company is committed to developing even more tools to continuously improve and digitize this contracting process. I believe Bidscale is a Govtech company to watch."

-Tony Kwag, founder of Bidscale.

Bidscale was made for Contracting Officers by Contracting Officers, so it addresses the most pressing needs through the following product modules:

Evaluation – Allows users to virtually conduct proposal evaluations with supporting data on a single screen.

Contracting Artifacts – Allows users to manage contracting artifacts and auto-generate comprehensive reports.

Consensus – Users can run consolidated reviews to ensure quality control and adherence to source selection requirements.

Contracting Workflow – A progress tracker where users can centrally manage and report on the source selection process by managing progress, schedule, risk, submissions, and reporting. This feature is especially useful when team members are not in the same room.

Ultimately, Bidscale creates a source selection process that is repeatable, traceable, defendable, and scalable.

About Bidscale:
Founded in Arlington, Virginia, Bidscale is a software solution that is mission-focused on accelerating innovation across the Federal Government. Bidscale is a Small Disadvantaged Business pending 8(a) certification and has achieved SOC 2 compliance.

Spotlight

In today’s global economy, education is more important than ever before—both to individual success and to our collective prosperity. As a result, it is vital for the United States to provide all students with a well-rounded, world-class education that prepares them to thrive in college, careers, and an increasingly competitive and interconnected society. Our students need a blend of academic and technical skills that encompass critical thinking, collaboration, and communication if they are going to achieve this success. Students will need to be adaptable and keep up with ever-changing demands in diverse workplaces that often will incorporate the use of evolving and new technologies. These realities present challenges, but also great opportunities, in education; and they continue to shape the Obama Administration’s education agenda. The U.S. Department of Education’s Strategic Plan for 2014-18 offers a framework for the agency’s key policy and operational priorities, in line with President Obama’s vision for education.

Spotlight

In today’s global economy, education is more important than ever before—both to individual success and to our collective prosperity. As a result, it is vital for the United States to provide all students with a well-rounded, world-class education that prepares them to thrive in college, careers, and an increasingly competitive and interconnected society. Our students need a blend of academic and technical skills that encompass critical thinking, collaboration, and communication if they are going to achieve this success. Students will need to be adaptable and keep up with ever-changing demands in diverse workplaces that often will incorporate the use of evolving and new technologies. These realities present challenges, but also great opportunities, in education; and they continue to shape the Obama Administration’s education agenda. The U.S. Department of Education’s Strategic Plan for 2014-18 offers a framework for the agency’s key policy and operational priorities, in line with President Obama’s vision for education.

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CYBERSECURITY

U.K. Firms Adapting Security Strategies for Cloud, Resilience

ISG | September 06, 2022

Enterprise security leaders in the U.K. are focused on cloud security, building up resilience against threats and aligning cybersecurity strategies with overall business goals, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm. The 2022 ISG Provider Lens™ Cybersecurity — Solutions and Services report for the U.K. finds these objectives are the top priorities for chief information security officers (CISOs) in U.K. organizations. The growing use of cloud models such as infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) is forcing companies to adapt their cybersecurity approaches, with a focus on holistic resilience that requires more communication and training for employees and outside stakeholders, the report says. “British enterprises are aligning cybersecurity with IT trends and the changing threat landscape, Cloud migration has many benefits but can create new security challenges. To guard against those threats, fundamental technical and organizational measures are needed.” -Roger Albrecht, co-lead, ISG Cybersecurity. The U.K. government has recognized the importance of cybersecurity and is making major investments to protect British enterprises and foster a growing cybersecurity industry, ISG says. According to a 2022 study by the U.K. National Cyber Security Centre, 39 percent of businesses in the U.K. had experienced a cybersecurity breach in the past 12 months, and for large and midsize companies, the average cost of a breach is £19,400. The government’s cybersecurity strategy is now kicking off its fourth year with an emphasis on boosting the U.K. digital economy, which includes about 1,400 cybersecurity businesses, ISG says. As enterprises in the U.K. face increasing IT complexity, the establishment of permanent hybrid work and the need for more agility, many are considering the zero-trust (ZT) security model, ISG says. 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About ISG Provider Lens™ Research: The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. About ISG: ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data.

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EMERGING TECHNOLOGY,CYBERSECURITY

Trust Stamp Unveils Privtech™ - a New Government-Focused Privacy-First Identity Technology

Trust Stamp | September 29, 2022

T Stamp Inc. (“Trust Stamp” or the “Company”) (Nasdaq: IDAI, Euronext Growth: AIID ID), a global provider of AI-powered trust and identity services used globally across multiple sectors, today unveiled its new government-focused, privacy-first identity technology, Privtech™, and reports it has received registered trademark status for the Privtech solution by the US Patent and Trademark Office. The technology provides four customizable levels of privacy protection using the Company’s existing Privtech Certified® structure and offers government agencies the ability to verify identity and protect against fraud, while minimizing the data collected and providing transparency as to its use. “Privtech technology utilizes our patented irreversibly transformed identity token (IT2™), which allows users to be identified on a probabilistic basis without disclosing underlying biometric or other identity data. Within the Privtech Certified® structure there are four levels of privacy protection, of which Privtech Level Four is the most stringent with the entire enrollment and authentication processes taking place on the user’s own device, and only a randomized and encrypted one-time identifier ever leaving the device, Government agencies need to balance safe and efficient interaction with digital users against minimizing intrusion into the user’s privacy. Unlike the typical biometric systems in use today, Privtech Level Four does not require data intermediation by a private sector vendor and does not require the user to provide the agency with their biometric data. We have designed these solutions to meet the specific demands of government customers, which represent a very substantial and growing market opportunity. Ultimately, we believe that Privtech Certified products will define a new privacy-first approach to interacting with government agencies.” -Gareth Genner, Chief Executive Officer of Trust Stamp. Dr. Norman Poh, Chief Science Officer of Trust Stamp, stated, An IT2 can be created from virtually any modality of biometric together with most other types of identity data. In addition to the obvious benefit of privacy protection, the IT2 has numerous advantages when compared to legacy biometric templates, including computational efficiency, interoperability and cancelability. The Company’s announcement is in the wake of substantial increases in technology-focused investments by government agencies including $80 billion in new funding for the Internal Revenue Service with a stated emphasis on improving taxpayer services and modernizing the agency’s technology and other infrastructure. About Trust Stamp: Trust Stamp, is a global provider of AI-powered identity services for use in multiple sectors including banking and finance, regulatory compliance, government, real estate, communications, and humanitarian services. Its technology empowers organizations with advanced biometric identity solutions that reduce fraud, protect personal data privacy, increase operational efficiency, and reach a broader base of users worldwide through its unique data transformation and comparison capabilities.

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GOVERNMENT BUSINESS

Parker Confirms UK Government’s Approval of the Meggitt Acquisition

Parker | July 20, 2022

Parker Hannifin Corporation (NYSE:PH) today welcomes the announcement from the UK’s Secretary of State for Business, Energy and Industrial Strategy that, following public consultation, he accepts the competition and national security undertakings provided by Parker in relation to the Meggitt acquisition and the transaction is therefore cleared to proceed by the UK Government. As previously announced on August 2, 2021, the boards of Meggitt and Parker reached agreement on the terms and conditions of a recommended all cash acquisition by Parker of the entire issued, and to be issued, ordinary share capital of Meggitt PLC (the “Acquisition”). Parker also confirms that it has signed legally binding economic commitments with the UK Government. These commitments include maintaining the following, for five years after the closing of the Acquisition (“Undertaking Period”): Meggitt’s headquarters and its aerospace and advanced materials center of excellence in Ansty Park, in Coventry, UK; Meggitt’s key areas of existing operational capability in the UK; R&D (including product engineering) and manufacturing labor headcount in the UK; Meggitt’s sustainability targets of reducing net carbon emissions by 50 per cent, by 2025; and achieving net zero greenhouse gas emissions by 2050; and Contractual obligations regarding supply of goods and services to HM Government. Finally, as innovation is a key driving factor of success for both Meggitt and Parker, Parker has agreed to increase Meggitt’s R&D expenditure in the UK by at least 40 per cent, by the end of the Undertaking Period, and its UK apprenticeship opportunities by 20 per cent. “We are pleased to have reached this important clearance milestone from the UK Secretary of State, We have also agreed to substantial legally binding commitments, which underscore our deep commitment to the UK. As we move closer to the completion of the acquisition and the combination of these two strong businesses, we look forward to welcoming the Meggitt team to Parker.” -Tom Williams, Chairman and Chief Executive Officer, Parker. The Acquisition remains subject to satisfaction or, where applicable, waiver of the conditions set out in the scheme circular published on August 16, 2021, including regulatory clearance and the sanction of the scheme of arrangement by the High Court of Justice in England and Wales pursuant to the UK Companies Act 2006. Parker continues to expect the Acquisition to close in Q3 2022. About Parker- Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Parker has increased its annual dividend per share paid to shareholders for 66 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index.

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