Secured Research | Equipment Finance Originator | Monitor | Monitor Suite | Converge | STRIPES Leadership
No Result
View All Result
ABF Journal
Forward for Specialty Finance
SUBSCRIBE
Lender & Services Directory
  • News
    • People
    • Economy
    • All News
  • Deals
  • Magazine
    • Magazine Issues
    • Nominations
  • Features
  • Recruiting
  • Events
  • Advertise
  • Contact Us
  • News
    • People
    • Economy
    • All News
  • Deals
  • Magazine
    • Magazine Issues
    • Nominations
  • Features
  • Recruiting
  • Events
  • Advertise
  • Contact Us
No Result
View All Result
ABF Journal
No Result
View All Result
Home News

CohnReznick Releases GAUGE Report Analyzing Trends Shaping GovCon Industry

byBrianna Wilson
August 20, 2024
in News

CohnReznick, an advisory, assurance and tax firm in the United States, through its government contracting (GovCon) industry practice, released its 8th annual GAUGE Report, published in conjunction with solutions provider Unanet.

The 2024 report analyzes emerging trends, issues, priorities and opportunities shaping the GovCon industry with a specific focus on artificial intelligence (AI), compliance challenges, growth strategies and other industry drivers. Key focus areas include government contract compliance, accounting, utilization, growth and efficiencies.

GovCons and AI
A new topic for this year’s survey was the impact of AI on the GovCon industry. Key findings included:

  • One-third of GovCon firms are currently using AI, but only 10% are using it in the finance and accounting business areas.
  • _x000D_

  • More than half of GovCons either use or plan to use AI in their business development and marketing areas next year.
  • _x000D_

  • The most prolific users of AI tend to be firms with revenues between $25 million and $50 million.
  • _x000D_

Other Key Survey Findings:

  • 69% of GovCons say they are having issues winning new contracts.
  • _x000D_

  • 57% rank finding new revenue resources among their top two most significant financial challenges.
  • _x000D_

  • 45% say they lack business development resources.
  • _x000D_

  • 74% rely on personal relationships as a top 2 resource for new opportunities.
  • _x000D_

  • M&A is a priority for 39% of companies in 2024, up from 31% in 2021.
  • _x000D_

  • About 40% of GovCons report a growth rate between 1% and 14%, and about half of the firms surveyed project a similar growth rate in the year ahead.
  • _x000D_

  • 40% of firms report winning more than 50% of the projects for which they submitted proposals, compared to 25% in our 2021 report.
  • _x000D_

  • Wrap rates, a strong indicator of how efficiently a firm runs its projects and business, improved again in 2024, continuing a several-year trend.
  • _x000D_

“Of the 1,255 contributors, 71% of firms say they are optimistic about the current GovCon business environment — a number that is consistent with what we saw in last year’s report,” Christine Williamson, who leads the firm’s government contracting advisory practice and co-authors the GAUGE Report, said. “In addition to moving forward on technology initiatives like AI, our client service teams are seeing more GovCons employing automated business practices as a key component of their growth and risk mitigation strategies.”

“While the majority of GovCons report that they are ‘very data-driven’ companies, almost half of them say they are only somewhat confident to not very confident at all in the quality and accuracy of the data they are using,” Kristen Soles, leader of the GovCon practice and managing partner of CohnReznick’s global consulting solutions, said. “This suggests a huge opportunity for them to explore more robust and innovative digital and data-management solutions to better manage compliance and enhance decision making.”

To read the 2024 GAUGE Report in its entirety and learn more, visit the CohnReznick website.

Previous Post

GoldenTree Asset Management Expands Private Credit Team

Next Post

Karas Joins nFusion Capital as EVP of Asset Based Lending

Related Posts

Advanced Power Closes $100M Corporate Credit Facility
Deal Announcements

White Oak and Hilco Provide $192MM Credit Facility for Royal Cup Coffee and Tea

June 3, 2026
Advanced Power Closes $100M Corporate Credit Facility
Deal Announcements

Siena Lending Group Agents $35MM Credit Facility for Media Company

June 3, 2026
News

GA Group Launches Dedicated Transaction Opinions Practice

June 3, 2026
Deal Announcements

Cornerstone Business Credit Funds $500K Line of Credit for Security Company

June 3, 2026
Wingspire Capital Provides Over $500MM in Corporate Finance Commitments in H1/25
News

Bain Capital Launches JB Aircraft Finance in Partnership with Aviation Experts

June 3, 2026
Wingspire Capital Provides Over $500MM in Corporate Finance Commitments in H1/25
News

WhiteHawk Capital Partners Scales Direct Lending with Broadridge

June 3, 2026
Next Post

Karas Joins nFusion Capital as EVP of Asset Based Lending

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

On the Leading Edge: Restructuring Goals Lead the Process

On the Leading Edge: Restructuring Goals Lead the Process

May 22, 2026

The New Era of Bank-Independent Lender Partnerships

May 8, 2026

Stress, Strategy and the Bench: What the 17th Annual Kevin J. Carey Summit Revealed About the State of Credit and Restructuring

May 22, 2026

When Structure Becomes Strategy

May 12, 2026

About Us

For over 50 years, RAM Holdings’ brands have led the commercial finance industry in publishing, talent development, research and events. ABF Journal’s audience is comprised of as many as 18,000 specialty finance industry executives, private equity investors, investment bankers, advisors, service providers and more.

Our Brands

  • Secured Research
  • Equipment Finance Originator
  • Monitor
  • Monitor Suite
  • Converge
  • STRIPES Leadership

 

Learn More

  • Advertise
  • Magazine
  • Contact Us

Newsletter

Driving specialty finance forward for decades with insights, recognition and deals. Sign up now.

SUBSCRIBE >>

© 2025 RAM Group Holdings - A Leading Commercial Finance Publishing Group For Over 50 Years

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News
    • People
    • Economy
    • All News
  • Deals
  • Features
  • Magazine
    • Magazine Issues
    • Nominations
  • Events
  • Advertise
  • Contact Us
Provider Directory >>

© 2025 RAM Group Holdings - A Leading Commercial Finance Publishing Group For Over 50 Years