Government contracting programs have grown from $182 billion in 1998 to nearly $400 billion in 2008. In 2007, $83 billion of this went to small businesses This is the first in a series of blogs that will help you understand how to tap into this source of business.
How the Government Buys
Unlike private sector buyers, the Federal Government has an extraordinarily transparent purchasing system. All of the rules and regulations are clear to everyone from the beginning.
When any Federal agency buys products or services, it must follow Federal Acquisition Regulations (FAR), a standardized set of regulations that establish procedures for every step in the procurement process.
Commercial opportunities are posted at FedBizOpps, the Government's one-stop virtual marketplace. The website allows potential suppliers to identify contracting opportunities. Agencies are required to post buying requirements for contracts expected to exceed $25,000.
When a government office wants to purchase products or services, they frequently search the Central Contractor Registration (CCR) database of companies wanting to do business with the government. It is important to register your business on CCR.
Federal purchases above $3,000 but under $100,000 must be reserved for small businesses, All purchases of up to $3,000 are classified as "micro-purchases" and can be made without obtaining competitive quotes. These purchases are not necessarily reserved for small businesses, and, importantly, agencies can make these purchases using a government credit card.
Suppliers wishing to participate in these programs must provide a sealed bid, which is then opened in a public forum where the information is recorded.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
1/6/10
Buy Online, Pickup In Store
A recent survey from eMarketer indicates that buy online, pick up in store is desired by consumers although few retailers can successfully implement it. This is an area where smaller, boutique retailers could provide a service that out-services the big box retailers.
Consumers desire convenience and security—if they buy online they want to pick up and return to the store. This can be a major inventory challenge for larger retailers. But boutique retailers, with smaller, more specialized inventory, can accommodate consumers.
For more information, read the eMarketer article Examining In-Store Pickup Options.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
Consumers desire convenience and security—if they buy online they want to pick up and return to the store. This can be a major inventory challenge for larger retailers. But boutique retailers, with smaller, more specialized inventory, can accommodate consumers.
For more information, read the eMarketer article Examining In-Store Pickup Options.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
1/5/10
Defeating Credit Card Fraud
Credit card fraud is an issue that can threaten the very livelihood of a small retailer. Much of the credit card fraud occurs during face-to-face transactions, although many thieves have tampered with the actual POS systems to "skim" off credit card information as the cards are read.
In general, experts agree that the best ways to prevent credit card fraud are:
For more information, read the white paper at the Northern Leasing Web Site.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
In general, experts agree that the best ways to prevent credit card fraud are:
- Screen employees thoroughly before hiring
- Keep employees trained in the methods of fraud and insure they know what to watch for
- Keep equipment up to date, as newer methods of security are built into newer card processing software and hardware
For more information, read the white paper at the Northern Leasing Web Site.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
12/29/09
Are Contactless Payments Secure?
Contactless payment, as implemented by industry leaders American Express, MasterCard and Visa, is very secure. The financial payments networks used to process contactless payments are the same networks that process millions of magnetic stripe transactions securely today. The primary difference is that the contactless payment device (card, fob or other form factor) uses radio frequency (RF) technology to send payment account information to the merchant’s point-of-sale (POS) terminal, instead of requiring the payment card’s magnetic stripe to be swiped. Contactless payment devices are designed to operate at very short ranges–less than 2-4 inches–so that the consumer needs to make a deliberate effort to initiate the payment transaction.
In addition, the financial payments industry has designed multiple layers of security throughout the traditional credit and debit payment systems to protect all parties involved in a payment transaction. Most of these protective measures are independent of the technology used to transfer the consumer payment account information from the payment card or device to the merchant POS terminal and are used for both magnetic stripe and contactless transactions. For example, online authorization, risk management and fraud detection systems are used to detect potential fraudulent activity for any credit or debit card payment transaction. Plus, the liability policies which protect consumers for traditional consumer credit and debit accounts also apply to contactless transactions.
Furthermore, information from a contactless payment device cannot be transferred to a conventional, magnetic-strip device, which virtually eliminates the incidence of manufacturing fraudulent cards. If a criminal tries to pay for any purchase using a magnetic stripe card programmed with illicitly captured contactless payment information, the transaction will be denied by the issuer authorization system.
For more information, read the white paper found at Northern Leasing Systems.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
In addition, the financial payments industry has designed multiple layers of security throughout the traditional credit and debit payment systems to protect all parties involved in a payment transaction. Most of these protective measures are independent of the technology used to transfer the consumer payment account information from the payment card or device to the merchant POS terminal and are used for both magnetic stripe and contactless transactions. For example, online authorization, risk management and fraud detection systems are used to detect potential fraudulent activity for any credit or debit card payment transaction. Plus, the liability policies which protect consumers for traditional consumer credit and debit accounts also apply to contactless transactions.
Furthermore, information from a contactless payment device cannot be transferred to a conventional, magnetic-strip device, which virtually eliminates the incidence of manufacturing fraudulent cards. If a criminal tries to pay for any purchase using a magnetic stripe card programmed with illicitly captured contactless payment information, the transaction will be denied by the issuer authorization system.
For more information, read the white paper found at Northern Leasing Systems.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
12/27/09
Contactless Payment Technology
In 2005, contactless payments began in earnest with a number of retailers offering consumers the ability to use "smart cards" for everything from retail purchases to transit payments.
Contactless payments use smart chip technology that relies on a secure microcontroller, internal memory, and a small antenna embedded in a device that communicates with a reader through a radio frequency (RF) interface.
IMS Research is predicting that 1 billion smart cards will be shipped per year by 2014, and that between 2008 and 2014, the market for smart cards is expected to double, with smaller schemes employing microcontroller-based cards leading the way, such as drivers licenses, health care, national ID and e-passports.
What does all of this mean? Expect to continue to see new, innovative uses for the technology. And, as it becomes more ubiquitous, expect to see consumer demand increase do to the convenience and ease of uses of this technology.
For more information, read the white paper at Northern Leasing Systems.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
Contactless payments use smart chip technology that relies on a secure microcontroller, internal memory, and a small antenna embedded in a device that communicates with a reader through a radio frequency (RF) interface.
IMS Research is predicting that 1 billion smart cards will be shipped per year by 2014, and that between 2008 and 2014, the market for smart cards is expected to double, with smaller schemes employing microcontroller-based cards leading the way, such as drivers licenses, health care, national ID and e-passports.
What does all of this mean? Expect to continue to see new, innovative uses for the technology. And, as it becomes more ubiquitous, expect to see consumer demand increase do to the convenience and ease of uses of this technology.
For more information, read the white paper at Northern Leasing Systems.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
12/24/09
Multi-Channel Marketing Challenges
Emarketer presents an interview with Fiona Dias, Executive Vice President, Partner Strategy and Marketing GSI Commerce who talks about the challenges of multi-channel marketing. Ms. Dias explores some of the inventory challenges affecting retailers in implementing a buy/order online-pick up at store strategy.
Read Overcoming Multi-Channel Hurdles at eMarketer.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
Read Overcoming Multi-Channel Hurdles at eMarketer.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
12/23/09
Tips for Consumer-Centric Retail Operation
A report published by the NRF (National Retail Federation) provides tips for retailers to become a more “consumer-centric” operation. Intense competition, the blurring of traditionally vertical channels and an explosion of market noise has resulted in consumer’s taking more control. This has led to a relentless focus on price as a basis for evaluating competing retailers—not an ideal situation. Retailers can combat this trend by becoming more consumer-centric. Below are three tips for becoming more consumer-centric.
1. To succeed at consumer centricity, commit now.
The most successful retailers have adopted and live by a consumer-centric strategy. This can provide a strong first-mover advantage.
2. Gather and use information from your customers.
Analysis and insights are important, but it is execution that will win the battle. Gathering “market intelligence” doesn’t have to be difficult. It can be as simple as asking your customers a few questions, or having them fill out a simple survey. The key is to focus on one area for improvement, collect the information, and then act on it.
3. Rely on your suppliers and manufacturers.
If you have a limited (or no) budget for gathering consumer data, see if the manufacturer can provide consumer insights. The best programs are a result of good collaboration between retailers and manufacturers. Often, they have a world of information that they can share.
A fifteen page report on becoming a more consumer-centric organization is is available at the NRF website.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
1. To succeed at consumer centricity, commit now.
The most successful retailers have adopted and live by a consumer-centric strategy. This can provide a strong first-mover advantage.
2. Gather and use information from your customers.
Analysis and insights are important, but it is execution that will win the battle. Gathering “market intelligence” doesn’t have to be difficult. It can be as simple as asking your customers a few questions, or having them fill out a simple survey. The key is to focus on one area for improvement, collect the information, and then act on it.
3. Rely on your suppliers and manufacturers.
If you have a limited (or no) budget for gathering consumer data, see if the manufacturer can provide consumer insights. The best programs are a result of good collaboration between retailers and manufacturers. Often, they have a world of information that they can share.
A fifteen page report on becoming a more consumer-centric organization is is available at the NRF website.
For more information, please visit our other Northern Leasing sites:
http://wiki.northernleasing.com
http://support.northernleasing.com
http://blog.northernleasing.com
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