Month: November 2020

2020 has undoubtedly thrown some significant curveballs at government agencies across North America, and here at Bonfire, we’ve been blown away time and time again by the resilience and adaptability of the public procurement teams we get to work with. 

We are pleased to announce that Bonfire has been presented the Deloitte Technology Fast 50™ program award and as our CEO Corry Flatt said in our press release, this recognition wouldn’t be possible without our clients, who trusted us with the important work of bringing procurement online, especially in the midst of the COVID-19 pandemic.

The Deloitte Technology Fast 50 program recognizes Canada’s 50 fastest-growing technology companies with the highest revenue-growth percentage over the past four years. Bonfire was ranked number 30 for our entrepreneurial spirit, bold innovation, and 649 percent increase in revenue growth from 2016 to 2019. 

“This year’s Fast 50 winners should be especially proud of this designation, as their role in the fabric of Canadian business—particularly during these turbulent times, is crucial,” said Erica Pretorius, partner and national leader for the Technology Fast 50 program at Deloitte Canada. “Their bold vision and true commitment to innovation allow them to not only improve today’s world, but also shape tomorrow’s, despite the constant uncertainty. This year’s winners are proving themselves resilient, innovative, and adaptable, all in an unpredictable year defined by economic instability and the continuing public health crisis.”

To qualify for the Deloitte Technology Fast 50 ranking, companies must have been in business for at least four years, have revenues of at least $5 million, be headquartered in Canada, own proprietary technology, conduct research and development activities in Canada, and invest a minimum of five percent of gross revenues in R&D.

To learn more about the Deloitte Technology Fast 50 and Bonfire’s ranking, read the full press release here.

Established by the CARES Act, the Coronavirus Relief Fund (CRF) is here to help State and some local governments respond to COVID-19. The Fund covers some more obvious expenses—like establishing temporary public medical facilities or disinfection of public areas—but it also covers those indirect costs related to COVID-19, like expenses to improve telework capabilities for public employees working from home.

We’ve previously talked about how governments can use their CARES Act funding to deliver services to communities faster than ever before with procurement software. So now what? What are the eligibility requirements for CRF dollars and how can you ensure that you’re being compliant as you’re investigating software options? We’ve got you covered. Three requirements for CRF eligibility were highlighted in recent guidance from the Department of the Treasury. In this blog, we’ve outlined how to identify procurement software that aligns with all three requirements so that you can spend your CRF dollars worry-free.

Are your expenditures necessary to address COVID-19?

The first requirement states that CRF may only be used to cover costs that “are necessary to expenditures incurred due to the public health emergency, with respect to the Coronavirus Disease 2019 (COVID-19).” In their list of nonexclusive examples of eligible expenditures, the Department of the Treasury mentions expenses for public safety measures (such as maintaining social distancing) as well as expenses to improve telework capabilities for public employees.

First of all, if vendors were previously coming into the office to drop off proposals, or were mailing them in, procurement software can help maintain social distancing and limit face-to-face contact by providing vendors with an easy and convenient online submission process. Unlike email vendor submissions, which can open your agency up to significant legal risk, keep an eye out for procurement software that is built for the rigor and rules of North American public sector procurement, so you can remain rest assured that you’re maintaining compliance.

And if your team is working remotely, you can award contracts seamlessly with online bid and RFP evaluation. You can also ensure project continuity while your team is working from home with built-in communication and collaboration tools.

Were the covered costs not accounted for in your budget?

Additionally, CRF may only be used to cover costs that “were not accounted for in the budget most recently approved as of March 27, 2020 (the date of enactment of the CARES Act) for the State or government.”

This means that, even if you didn’t budget for procurement software this fiscal year, the CARES Act provides a unique opportunity to digitally transform your procurement process to make it more efficient, more collaborative, and more adaptive to emergency situations.

Are the costs incurred before December 30?

Lastly, the CARES Act provides that payments from CRF may only be used to cover costs that “were incurred during the period that begins on March 1, 2020, and ends on December 30, 2020.”

Guidance from the Department of the Treasury clarified that for a cost to be considered to have been incurred, performance or delivery must occur during the covered period but payment of funds need not be made during that time. So as long as you have implemented the software before December 30, the cost is considered “incurred,” even if you haven’t made a payment.

Since the December 30 deadline is fast-approaching, signing on with a software vendor that enables quick and organized implementation is critical. Although some solutions require 6-12 month implementations, eProcurement providers like Bonfire can provide successful implementations in as little as two weeks. Just make sure that, before signing the dotted line, you and your vendor are aligned on implementation outcomes to ensure you’re up and running with the new software before December 30.

Want more tips on how to find COVID-related funding, apply it to your missions, and multiply that funding to maximize outcomes? Download this guide full of practical insights on how to use your CARES funding as a catalyst for digital transformation that will help you thrive during the pandemic and propel you into the future.

Grants management and procurement work hand-in-hand, especially in times of disruption, like the COVID-19 pandemic. After all, compliance is the cornerstone of grants management, and procurement can ensure that rules are followed from pre-award to closeout. And coordinating acquiring and spending of funds using digital tools can make a big impact in your organization.

That’s why we recently teamed up with grants management leader eCivis in our latest webinar “3 ways to maximize your COVID-19 funding through digital transformation.” Our expert panelists discussed the Coronavirus Relief Fund (CRF), which helps to cover expenses related to COVID-19, like medical and public health goods and services. For many, acquiring and spending CRF compliantly and with maximum impact, all before the December 30 deadline, can be daunting—but it doesn’t have to be. Our hosts discussed 3 steps to maximizing CRF dollars, and they were even joined by Nolan Sosa from the City of San Angelo to give an inside peek at how his agency used CRF to buy procurement software to maintain social distancing and remote work collaboration. Here are some highlights from that conversation.

Step 1: Finding the funding

It’s no secret that tracking down the right grant opportunities is time-consuming and overwhelming. Simply reading the fine print in a notice of opportunity can take hours. Digital tools can help standardize and track everything. Customizable search engines, for instance, consolidate the most important information so you can know if the opportunity is relevant before you read all the fine print.

In the webinar, Nolan shared his experience with finding COVID-19 funding and determining if he had a case to use it to digitize their procurement processes.

“What no one tells you about a pandemic is that infrastructure projects and health and public safety priorities do not stop when the world goes into lockdown,” said Nolan. The procurement process had to continue, but now with the added challenge of accepting and evaluating projects remotely in a way that complied with all applicable statutes and laws. Not to mention, vendors were frustrated because their bids were not arriving on time due to mail delays. 

“eProcurement was no longer a want for us; it became a need very quickly,” said Nolan.

With very little budget to work with, Nolan began looking into grant options like CRF. He was able to build a business case predicated on two factors:

1. Social distancing – Online bid submission could eliminate the need for in-person proposal submissions, courier deliveries, and physical bid openings.

2. Remote workforce – With Nolan’s team working from home, eProcurement could help with collaboration, communication, and complete coverage of the process online.

With his business case built, Nolan was able to get buy-in and approval from the City Attorney, CFO, and City Manager.

Step 2: Applying the funding to missions

Every public agency has a mission—and the way you choose to use your funding at this time can either work towards it or against it.

For instance, in an effort to reduce costs in the current economic climate, some agencies may choose to cut some of their software costs. But eliminating cloud-based systems can introduce redundancies and a lot of human error, ultimately affecting your mission’s impact long-term. 

By digitizing procurement, Nolan’s team was able to realize efficiencies that enabled his agency to meet constituents’ needs faster. For instance, they’ve been able to increase the level of service for internal clients with Bonfire’s intake module, streamline the drafting process with templates, and focus less on vendor document management and more on vendor engagement with a portal where suppliers can upload their own documents and proposals. 

Step 3: Multiplying funding to maximize outcomes

With so many agencies still facing budget cuts, staff reductions, and being forced to do more with less, being able to make your funding go further to maximize outcomes for your mission is more critical than ever. Digitizing your grants and procurement processes can help.

“When you take time away from paper shuffling and administrative duties, and allocate it towards long-term sustainable sourcing solutions, you’re serving your organization and you’re serving the public in a more effective manner. And if you’re able to do it through state and federal dollars, then that’s just an added bonus,” said Nolan.

To listen to the full conversation with our expert panelists on how to find and effectively spend COVID-19 funding, watch the full webinar for free. Although for some agencies, like public housing and transportation, the deadline has been extended, the deadline for states to spend CRF is still December 30—which is approaching fast. Book a demo with us to learn more about maximizing your CRF or other COVID-19 funding with procurement software.