FedBiz IT Solutions hopes its second straight year atop our annual Fast 50 rankings is merely the start of a long winning streak in the government market.
Lightning can indeed strike twice at times and for one small business contractor that indicates the potential continuation of its winning streak in government services.
Founded in 2011, Leesburg, Va.-based FedBiz IT Solutions has quickly made its mark in the small business arena and specifically among contractors with the Historically Underutilized Business Zone designation better known as HUBZone.
For the second year in a row, FedBiz IT Solutions comes out on top in Washington Technology’s annual Fast 50 list of the fastest-growing small businesses in government services. The company recorded $32.6 million in revenue last year and registered a compound annual growth rate of 255.9 percent over the past five years.
FedBiz IT Solutions is relatively new to the world of having its own contract portfolio to record revenue against, President Don Tiaga told WT. The company was first founded as a bid, proposal and capture consulting firm for other IT product resellers.
Then in 2015, the company reached a milestone when it landed a spot on the potential 10-year, $20 billion NASA Solutions for Enterprise Wide Procurement V contract vehicle for IT products and services to all government agencies. FedBiz IT Solutions was chosen for the vehicle’s Group B HUBZone set-aside portion.
“We have focused strictly on making that contract successful for us,” Tiaga told WT. “If you think about it, there are over 160 contracts on it, you have to work hard and be good to manufacturers, customers and other resellers.”
And the signs are evident that FedBiz IT Solutions has turned this key contract into the growth engine for itself. A close look under the hood shows the company skyrocketed in 2015 from less than $1 million to $28 million in revenue on its selection for SEWP V. According to Deltek, FedBiz IT Solutions has received $43.8 million in task orders against the contract.
“We think we’re easy to work with,” Tiaga told WT. He said the company holds an ISO 9001:2008 quality management system certification, which measures companies on their ability to meet customer and applicable statutory and regulatory requirements.
The certification also evaluates customer satisfaction through the company’s management systems. Tiaga touted the company’s management practices as items that “can duplicate over and over.”
Partnerships with larger vendors have also helped FedBiz IT Solutions hit an early inflection point in its growth. The company’s roster includes a diverse mix of giants such as AT&T, Cisco, Dell EMC, Hewlett Packard Enterprise, IBM, Intel, Red Hat, Samsung and Verizon.
Computing, enterprise storage and cybersecurity are among the “hot buttons for government today” that FedBiz IT Solutions also views as growth channels for itself, Tiaga told WT.
One focus area in the company’s larger expansion effort is the further construction of its workforce, which Tiaga said currently stands at nine employees. A new employee in fact had their very first day on the job when WT spoke to Tiaga.
“We focus on young college graduates looking for a start in the business,” Tiaga said. “Inside sales representatives are key for us to bring in, create quotes for us and win awards.
“One of our major goals in continuing to expand is to get more field representatives in front of opportunities where we can work with our customers in helping them.”
Tiaga also told WT that FedBiz IT Solutions has “bid on a couple” of new contracts and is awaiting an award decision from the unnamed agencies.
“One day we will graduate from small business if we keep having the right partners and right customers,” Tiaga said. “Once you graduate then you’re up against the big guys, it’s a big jump to that.
“We definitely want to make sure we have a foundation of contracts, sales and experience. That’s the key for us.”