U.S. posts another budget deficit as tax revenues sag

Reuters | February 14, 2019

The U.S. federal government ran a $14 billion budget deficit in December as revenues sagged following last year’s tax cuts even as the economy appeared strong, Treasury Department data showed on Wednesday. Analysts polled by Reuters had expected an $11 billion deficit for the month and the gap was the latest sign of deterioration in the government’s fiscal position. A strong U.S. job market has appeared to power economic growth this year, an economic setting that tends to help fiscal revenues. Economists suspect some of the economic strength draws from tax cuts that came into effect at the beginning of 2018.

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Emerging Technology, Cybersecurity

IMB Partners Has Made a Strategic Investment in GovCon Provider eTelligent Group

PR Newswire | July 24, 2023

IMB Partners ("IMB"), a leading middle market private equity firm specializing in utility, industrial, and government contracting services ("GovCon"), today announced its strategic investment in eTelligent Group ("eTel"), a premier provider of emerging technologies and program management solutions to the U.S. Government. Founded in 2005, eTel has been leading the enterprise-wide transformation of critical business systems by managing the implementation and engineering of emerging technologies. Today, the company delivers digital transformation services primarily to the Internal Revenue Service ("IRS"), utilizing capabilities that include agile software development, DevSecOps, IT Program Management Office (PMO), cybersecurity, web services, and big data. eTel has become a principal thought leader and solutions evangelist to the IRS, now positioned as the second-most active prime contractor on the IRS IT-EPMSS BPA contract vehicle. "We are excited to hit the ground running with the highly-skilled and experienced team of professionals at eTel," says Norman Yu, Director at IMB Partners. "The eTel team has laid some very impressive groundwork, and IMB sees a great opportunity to grow, diversify, and strengthen the business both inside and outside of the IRS. eTel is the partner we have been looking for, and we are ready to roll up our sleeves with eTel and further our commitment to serving the GovCon sector." With IMB's investment, eTel will be able to dedicate additional resources to professionally scale the overall organizational infrastructure and capabilities to undertake larger contracts. Additionally, this partnership will propel eTel to explore potential acquisitions to help diversify the customer base and build upon existing capabilities to best serve the U.S. Government. "Over the past 18 years, we have built a high performing team of industry leading professionals that are committed to our core company values of serving with excellence," says Ritesh Bansal, Managing Partner of eTel. "The proof is in our customer feedback: we're nimble, more efficient, and more responsive in delivering exceptional service. And now, with this partnership with IMB, we will have the means to extend the same exceptional service to more customers across new categories and invest significantly in building our strategic and operational framework," says Rohit Aggarwal, Managing Partner of eTel. About eTelligent Group eTel provides a proven team of talented IT professionals that provide reliable solutions for business & information technology management and services. eTel delivers IT services, agile and DevOps development, big data services, IT program management, and cyber security services. Working as a trusted partner of the Federal Government, eTel holds itself to the highest industry standards, including CMMI Level 3 and PMBOK. Learn more at etelligent-group.com. About IMB Partners Founded in 2010, IMB is a private equity sponsor focused on investing and partnering with management teams to grow lower middle market companies serving government agencies and electric and gas utilities. IMB believes that diversity is an asset and takes an entrepreneurial approach to building companies of scale. IMB seeks platform investment targets with $10-$250 million in revenue. Learn more at imbpartners.com or connect with us on LinkedIn.

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Cybersecurity

Aquia Inc. Selected to Support the U.S. Air Force and DoD's Platform One CNAP Team on its Mission to Modernize Federal Government's Cybersecurity

PR Newswire | September 01, 2023

Aquia Inc., a Service-Disabled Veteran-Owned Small Business (SDVOSB) specializing in cloud and cybersecurity professional services, today announced it has been awarded a subcontract from Omni Federal to support its 3-year contract with the United States Department of Defense's (DoD's) Platform One Cloud Native Access Point (CNAP). CNAP is a cloud-based enterprise security framework with a zero trust architecture core that enables collaboration across the DoD landscape. The solution allows for simplified access to Amazon Web Services (AWS) GovCloud (IL 2/4/5) environments through a device-based zero trust approach to access. The platform removes the need for additional Virtual Private Networks (VPNs), Non-Classified Internet Protocol Router Network (NIPRNet) routing, and Defense Information Systems Agency Cloud Access Point (DISA CAP). It also enables the United States Air Force (USAF) to continue to advance its zero trust maturity, aligning with the cybersecurity executive order (EO) 14028 and federal and DoD zero trust strategies. "We feel privileged to support Platform One's CNAP team as they spearhead the transformation of cybersecurity practices within the U.S. government," said Savannah Burke, associate security engineer, Aquia. "During my time at AWS, I provided guidance and technical insight on cloud best practices to enterprise customers, and I look forward to bringing that expertise to the United States Air Force." This effort is one of several of Aquia's projects supporting Platform One services. Aquia also supports Platform One's Party Bus and Big Bang teams. About Aquia Inc. Aquia Inc. is a developer-centric company passionate about the intersection of security and velocity. We maintain a strong bias towards transformational work that disrupts the status quo — delivering elegant, modern solutions to cutting-edge cybersecurity problems. Founded by military veterans in 2021, we are a Service-Disabled, Veteran-Owned Small Business (SDVOSB). Our team has decades of experience driving transformational change across the public sector, enterprise businesses, and top-tier technology companies.

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Emerging Technology

Talkdesk CX Cloud™ Achieves FedRAMP® In Process Designation

Businesswire | August 09, 2023

Talkdesk®, Inc., a global cloud contact center leader for enterprises of all sizes, today announced that Talkdesk CX Cloud™, its AI-powered cloud contact center platform, has achieved Federal Risk and Authorization Management Program (FedRAMP) In Process designation and is listed in the FedRAMP marketplace. FedRAMP® is a U.S. federal government-wide compliance program that promotes the adoption of secure cloud products and services across U.S. federal agencies by providing a standardized approach to security assessment and authorization. The FedRAMP In Process designation is given to companies that are actively working toward a FedRAMP Authorization and mandates that the company meets specific stringent security requirements. With the FedRAMP In Process designation, Talkdesk has the ability to enable modern customer service and to meet the highest security standards for information confidentiality, integrity, and availability. “We’re proud to announce that Talkdesk has achieved the prestigious FedRAMP In Process designation for our AI-powered cloud contact center platform. This recognition not only reaffirms our unwavering commitment to security and compliance but also showcases our dedication to providing government agencies with the most trusted, flexible, and innovative solution," said Charanya “CK” Kannan, Chief Product & Engineering Officer at Talkdesk. “As Talkdesk works toward FedRAMP Authorization, we are honored to empower our valued customers on their journey to modernizing government services and delivering exceptional citizen experiences.” With a comprehensive suite of applications for omnichannel engagement, CX analytics, workforce management, and contact center operations, Talkdesk CX Cloud enables federal, state, and local governments to deliver modern customer service and increase efficiency. The security-compliant, flexible and open platform helps government institutions gain agility and get faster time to value. A single, unified interface preserves customer context and empowers governments to improve service while increasing efficiencies and employee productivity, and reducing costs. According to recent industry research, 94% of organizations are moderately to extremely concerned about cloud security, with perceived threats ranging from insecure interfaces to unauthorized access and more. Because FedRAMP is known as one of the most rigorous cloud service provider certifications in the world, many companies in regulated industries are increasingly seeking FedRAMP authorized customer service solutions. In addition to its public sector commitment, Talkdesk remains deeply invested in supporting companies across industries as they accelerate digital transformation that improves how they engage with customers securely. About Talkdesk Talkdesk® is a global cloud contact center leader for enterprises of all sizes. Talkdesk CX Cloud and Industry Experience Clouds help enterprises deliver modern customer service their way. Our trusted, flexible, and innovative contact center platform leverages AI and automation to drive exceptional outcomes for their customers and improve the bottom line. Serving enterprise customers in over 100 countries, we partner with our customers to deliver continuous innovation and breakthrough results. Our unwavering commitment to doing what we say we will do and our investment in the highest levels of security and reliability for our products make us second to none in the industry. Improve customer experiences, increase efficiency, and grow revenue with Talkdesk, a cloud contact center platform built for your industry.

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