Electronic Document Management Contract Awarded to ParseTek Inc. for $1.98M by Ex-Im Bank

Contract Overview

Contract Amount: $1,985,318 ($2.0M)

Contractor: Parsetek Inc

Awarding Agency: Export-Import Bank of the United States

Start Date: 2024-02-29

End Date: 2026-02-28

Contract Duration: 730 days

Daily Burn Rate: $2.7K/day

Competition Type: NOT AVAILABLE FOR COMPETITION

Number of Offers Received: 1

Pricing Type: FIRM FIXED PRICE

Sector: IT

Official Description: ELECTRONIC DOCUMENT MANAGEMENT.

Place of Performance

Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20571

State: District of Columbia Government Spending

Plain-Language Summary

Export-Import Bank of the United States obligated $2.0 million to PARSETEK INC for work described as: ELECTRONIC DOCUMENT MANAGEMENT. Key points: 1. Contract focuses on electronic document management services. 2. ParseTek Inc. is the sole awardee. 3. The contract is a definitive contract with a firm fixed price. 4. The sector appears to be IT services, specifically custom computer programming.

Value Assessment

Rating: questionable

The contract value is $1.98 million over two years. Without comparable contract data or a detailed breakdown of services, it's difficult to assess if this pricing is competitive or represents good value.

Cost Per Unit: N/A

Competition Analysis

Competition Level: sole-source

The contract was awarded on a sole-source basis, indicating a lack of competition. This limits price discovery and potentially leads to higher costs for taxpayers.

Taxpayer Impact: The sole-source nature of this award may result in a higher cost to taxpayers compared to a competitively bid contract.

Public Impact

Government agencies rely on efficient document management systems. This contract ensures continuity of electronic document management services. The award impacts ParseTek Inc. by providing them with federal revenue. Citizens may indirectly benefit from improved government efficiency.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Lack of competition
Potential for overpricing due to sole-source award
Limited transparency on specific deliverables

Positive Signals

Addresses a critical government function (document management)
Firm fixed price contract can provide cost certainty if scope is well-defined

Sector Analysis

This contract falls within the IT services sector, specifically custom computer programming. Benchmarks for similar electronic document management systems vary widely based on scope and complexity.

Small Business Impact

There is no indication that small businesses were involved in this sole-source award, either as prime contractors or subcontractors.

Oversight & Accountability

Oversight will be crucial to ensure ParseTek Inc. delivers the contracted electronic document management services effectively and within the agreed-upon budget, especially given the sole-source nature of the award.

Related Government Programs

Custom Computer Programming Services
Export-Import Bank of the United States Contracting
Export-Import Bank of the United States Programs

Risk Flags

Sole-source award limits competition.
Potential for inflated pricing due to lack of competition.
Limited transparency on specific service details.
No clear indication of small business participation.

Frequently Asked Questions

What is this federal contract paying for?

Export-Import Bank of the United States awarded $2.0 million to PARSETEK INC. ELECTRONIC DOCUMENT MANAGEMENT.

Who is the contractor on this award?

The obligated recipient is PARSETEK INC.

Which agency awarded this contract?

Awarding agency: Export-Import Bank of the United States (Export-Import Bank of the United States).

What is the total obligated amount?

The obligated amount is $2.0 million.

What is the period of performance?

Start: 2024-02-29. End: 2026-02-28.

What specific electronic document management capabilities are being procured, and how do they align with the agency's needs?

The data indicates 'ELECTRONIC DOCUMENT MANAGEMENT' as the service. However, without a detailed statement of work, it's unclear if this encompasses software development, implementation, maintenance, or a combination. Understanding the specific requirements is key to assessing if the $1.98 million contract value is justified and if the chosen solution effectively meets the Export-Import Bank's operational needs.

What is the justification for awarding this contract on a sole-source basis, and what steps were taken to ensure fair pricing?

The justification for a sole-source award is critical for understanding the competitive landscape. If there were no other capable vendors or unique circumstances, the lack of competition raises concerns about potential overpricing. The agency should have conducted market research and price analysis to ensure the $1.98 million is reasonable, even without multiple bids.

How will the effectiveness of ParseTek Inc.'s electronic document management services be measured and evaluated throughout the contract period?

Measuring effectiveness is vital for any government contract. Key performance indicators (KPIs) related to system uptime, data accessibility, security compliance, and user satisfaction should be established. Regular performance reviews and feedback mechanisms will be necessary to ensure the Export-Import Bank receives the full value of the $1.98 million investment and that the system operates efficiently.

Industry Classification

NAICS: Professional, Scientific, and Technical Services › Computer Systems Design and Related Services › Custom Computer Programming Services

Product/Service Code: SUPPORT SVCS (PROF, ADMIN, MGMT) › ADMINISTRATIVE SUPPORT SERVICES

Competition & Pricing

Extent Competed: NOT AVAILABLE FOR COMPETITION

Solicitation Procedures: ONLY ONE SOURCE

Solicitation ID: 83310124Q0075

Offers Received: 1

Pricing Type: FIRM FIXED PRICE (J)

Evaluated Preference: NONE

Contractor Details

Address: 14900 BOGLE DR, CHANTILLY, VA, 20151

Business Categories: 8(a) Program Participant, Category Business, Corporate Entity Not Tax Exempt, Joint Venture Women Owned Small Business, Minority Owned Business, Self-Certified Small Disadvantaged Business, Small Business, Special Designations, Subchapter S Corporation, Indian (Subcontinent) American Owned Business, U.S.-Owned Business, Woman Owned Business, Women Owned Small Business

Financial Breakdown

Contract Ceiling: $3,479,808

Exercised Options: $1,985,318

Current Obligation: $1,985,318

Actual Outlays: $1,124,474

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES

Cost or Pricing Data: NO

Timeline