As the Federal Governments fiscal year rapidly comes to a close (Sept. 30th), many companies are in the process of developing both their sales strategies and revenue forecasting models to support their government business for FY 2023. One of the items companies should account for when developing their strategies and models (especially around forecasting) is the Governments Continuing Resolution process or CR as it is more commonly referred to in Government circles.

If you have ever considered developing a Government market for your technology, now maybe the ideal time. With the chance of an economic recession increasing, (some would argue we are already in a recession) companies are hard at work developing strategies to overcome the potential loss in revenue and the effects this could have on their business growth and operations. A sales strategy that includes the US Government, which is the largest purchaser of software and IT services in the world with a budget for FY 2023 estimated to be $65B, may be an option for you to consider.

As the US economy begins to slow throughout the later half of 2022 and into 2023, organizations should consider developing a Government go to market strategy as a way to diversify their sales and reduce the risk of revenue shortfall.