Predict When a Business Is Ready for Government Contracting?
Introducing PARS, a predictive performance rating system that tells small businesses if they’re ready for government contracting, and shows those that aren’t how to get ready.
PARS is an algorithm that uses a company’s past performance, its current performance, and its resources as predictors of future performance.
PARS uses a survey, AND “mock” environment to rate the performance of small, minority-, women-, and veteran- owned businesses based on a variety of performance metrics. These criteria, while not always based on past performance, WILL be carefully crafted performance indicators, including simulated events that can be used to predict the likelihood for successful performance of a contractor.
How PARS Helps Prime Contracts and Agencies
PARS helps you predict the success of small businesses and subcontractors BEFORE you contract with them.
PARS helps large organizations, government agencies, and specifically prime government contractors quantify the performance of the small enterprises, subcontractors, freelancers, and teaming partners with whom they conduct business. For prime government contractors, PARS is a way to help your in-house team recruit the right companies to fulfill agency-mandated small business subcontracting goals.
PARS is an algorithm that uses a company’s past performance, its current performance, and its resources as predictors of future performance. The PARS Score is to government contractors and agencies what the credit score is to lenders.
What Is the PARS Scoring Tool?
PARS™ (Performance Assessment Rating System) is our proprietary scoring tool that uses a “mock” environment and predictive metrics to rate the performance of small, minority-owned, women-owned, and veteran-owned businesses.
For prime contractors, agencies, and organizations, the process is as simple as directing potential subcontractors and teaming partners to ccomplete the PARS Survey. The answers are used as evaluation factors to assess the past performance and predict the future capabilities of small businesses.
Here's What Gets Rated with PARS
PARS scores small businesses in three core areas:
- Technical capability – How well companies do what they do
- Teaming suitability – The value they offer
- Government suitability – How well equipped they are for government contracts
- PARS is a tiering system that rates small business from Tier 1 to Tier 4 using a variety of key evaluation factors to help prime contractors determine the capabilities of potential teaming partners and subcontractors.
Analyzing and Breaking Down Scores
Each business analyzed and rated with PARS gets an Overall Performance rating, but you don’t just get that one important number.
PARS also generates a series of scores in more than a dozen different categories that primes, agencies, and organizations can analyze to determine which companies would make good teaming partners and which are best-suited for subcontracting work.
PARS Allows Businesses & Municipalities to:
- Easily find and connect with small, minority-, women- and veteran-owned businesses
- Have access to performance ratings in order to make informed decisions
- Request and accept bids from vetted sources
- Fulfill mandates with quality, high performing companies that fit their criteria
How PARS Helps For Small Business
FOR SMALL BUSINESSES TRANSITIONING INTO GOVERNMENT CONTRACTING
Most experts, freelancers, and small business owners have no idea what it takes to become a government contractor. As a whole, government contracting is a market that slips by unnoticed by many small business owners. But the government spends hundreds of billions of dollars every single year buying products and services from individuals just like you, and companies just like yours.
Positioning your business to make a successful transition into government contracting is more about your past success, your company’s culture, your abilities, and your behaviors, than it is about red tape and certifications. That’s why we created PARS.
What Is the PARS Scoring Tool?
PARS™ (Performance Assessment Rating System) is our proprietary scoring tool that uses a “mock” environment and predictive metrics to rate the performance of small, minority-owned, women-owned, and veteran-owned businesses.
To get rated, just complete the PARS Assessment. Your answers are plugged into the rating tool and used as evaluation factors to assess your comany’s past performance and assess whether your company is ready to move into work with prime contractors to fulfill government contracts.
Here's What Gets Rated with PARS
PARS rates your business in three core areas:
- Technical capability – How well you do what you do
- Teaming suitability – The value you offer
- Government suitability – How well equipped you are for government contracts
PARS is a tiering system that will rate your business from Tier 1 to Tier 4 using key evaluation factors. We use these evaluation factors to connect you with prime government contractors that would be a good fit for your skill set, capabilities, teaming suitability and government suitability.
Analyzing and Breaking Down Scores
Each business analyzed and rated with PARS gets an Overall Performance rating, but you don’t just get that one important number.
PARS also generates a series of scores in more than a dozen different categories that primes contractors, agencies, and organizations can analyze to determine which companies would make good teaming partners, and which are best-suited for subcontracting work.
What Happens If You Don't Rate Well?
If your small business has challenges that keep it from rating well in PARS, don’t worry. You will have another chance. If you want to improve your score, just book a strategy call. A member of our team will walk you through your scores and give you a 90-day Corrective Action Plan (CAP) that will refer you to to a performance-rated subject matter expert who will help you strengthen your business where it’s weak.