Blog | Insights
March 7, 2019
TMG’s Pricing Proposal and Accounting Support Results in Over 260% Total Revenue Growth Over 7 Years
Gaithersburg, MD – The McKelvey Group, Inc.(TMG), the premier financial consulting firm for high-growth companies in the DC region, announces that its multi-leveled, collaborative, and resource-rich approach to pricing and accounting support has led to exponential, sustained growth for its client, VetFed Resources, Inc.(VetFed).
VetFed has averaged 20.44% annual revenue growth over the past 7 years, for a total of 267% revenue growth during that time. This growth is directly attributable to the dramatic increases in contract awards VetFed has received over the course of its relationship with TMG, with pricing services supporting the new business wins and accounting services supporting successful operations. By outsourcing pricing and accounting to TMG, VetFed’s management has been able to focus scarce time and internal resources on writing technically compelling proposals and delivering excellent operational services to their clients.
“TMG has been an instrumental force in our growth within the Federal contracting space,” VetFed CEO, Alfred Giambone said. “By serving as an outsourced pricing department as opposed to providing a ‘pricer,’ they’ve allowed us to scale as we have expanded, and have the array of resources to supply us with the expertise, support, and guidance we have required, every step of the way. They are a vital part of our team, now and in the future.”
A critical role for effective cost/proposal teams is to serve as a translator between the technical plan and the financial/accounting impacts and risks. The ability to clearly communicate back and forth minimizes the potential for “unbalanced” or “non-compliant” proposals as well as unexpected operational issues after contract award. And just as importantly, this ability increases the likelihood of higher evaluation scores and win rates. In many pricing departments, pricers are relegated to populating models. Pricers at TMG, however, are trained experts in this critical function.
Headquartered in Alexandria, VA, VetFed is a leading service provider for the Department of Veterans Affairs and the Naval Medical Logistics Command. VetFed’s mission is “to serve those who have served and are serving.” VetFed was a small enterprise focused on expansion when they partnered with TMG in 2012. The company could not allocate the funds to hire full-time pricing or accounting resources. TMG provided the option to have access to outsourced departments with a range of experience levels. For pricing, TMG has Pricers, Pricing Analysts, Principal Consultants, and Subject Matter Experts (SME). This meant VetFed could access, with immediate availability, exactly the right resource for exactly the right amount of time – having a full department available without paying for a full department. TMG seamlessly jumped in to:
– Expand VetFed’s team to scale the proposal staff up and down to account for the ‘peaks and valleys’ in proposal process and volumes, and help them to avoid the side-stepping of the critical pricing role that can quite literally mean the difference between a win or a loss on an RFP submission.
– Deliver the necessary variation in skill levels and volume of pricing experts to successfully and efficiently produce the proposal response, which is especially important for a company like VetFed as the complexity of a proposal can vary significantly.
– Enable VetFed to expand beyond its current contract types with the broader experience necessary from an outsourced team of experts, which has been a key driver in VetFed’s top win-rates and continued growth.
“VetFed is very much an ideal client for us,” said Matt McKelvey, President of TMG. “We came on-board with them early in their evolution and have been alongside them to support their ongoing growth as their requirements and goals have changed. Pricing responses are so much more than just a financial quote, they require a strategic approach from an experienced team of professionals. The focus on the real value of pricing is a critical part of our team. It’s the success and explosive growth of our clients that brings all of us at TMG great satisfaction. We’re proud to work alongside VetFed’s outstanding management and operations teams to provide exactly what they need exactly when they need it as they continue to grow their business.”
For more information about TMG and its Pricing capabilities and approach, please click here.