Treasury's BEP Spends $170K on IRIS Software Licenses and Maintenance
Contract Overview
Contract Amount: $169,951 ($170.0K)
Contractor: Iris Intelligence Limited
Awarding Agency: Department of the Treasury
Start Date: 2024-05-01
End Date: 2027-04-30
Contract Duration: 1,094 days
Daily Burn Rate: $155/day
Competition Type: FULL AND OPEN COMPETITION
Number of Offers Received: 1
Pricing Type: FIRM FIXED PRICE
Sector: IT
Official Description: IRIS PROFESSIONAL USER LICENSES & CONTINUED MAINTENANCE SUPPORT
Place of Performance
Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20228
Plain-Language Summary
Department of the Treasury obligated $169,950.78 to IRIS INTELLIGENCE LIMITED for work described as: IRIS PROFESSIONAL USER LICENSES & CONTINUED MAINTENANCE SUPPORT Key points: 1. The Bureau of Engraving and Printing (BEP) is acquiring IRIS Professional User Licenses and maintenance support for nearly $170,000. 2. The contract is awarded to IRIS Intelligence Limited, the likely developer or primary distributor of the software. 3. The primary risk is potential vendor lock-in and the ongoing cost of maintenance for specialized software. 4. This falls under the IT sector, specifically software publishing.
Value Assessment
Rating: fair
The total award value is $169,950.78 over three years. Without specific per-unit license costs or comparison data for similar software, it's difficult to definitively assess pricing. However, the duration suggests a moderate annual spend.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded under full and open competition, suggesting that multiple vendors had the opportunity to bid. This method generally promotes competitive pricing, though the specific outcome for this contract isn't detailed.
Taxpayer Impact: Taxpayer funds are being used for software acquisition and ongoing support. The competitive award process aims to ensure reasonable pricing, but the long-term maintenance costs represent a continuous expenditure.
Public Impact
Government agencies rely on specialized software like IRIS for critical functions, impacting operational efficiency. The cost of software licenses and maintenance represents a recurring expense for taxpayers. Ensuring competitive bidding for software contracts is crucial for maximizing value for money.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Warning Flags
- Potential for vendor lock-in
- Ongoing maintenance costs
- Lack of detailed pricing benchmarks
Positive Signals
- Awarded under full and open competition
- Firm Fixed Price contract type
Sector Analysis
The IT sector, particularly software licensing and maintenance, is a significant area of government spending. Benchmarks for similar enterprise software licenses and support contracts vary widely based on functionality and user base.
Small Business Impact
There is no indication that small businesses were involved in this specific contract award. The focus appears to be on a specialized software provider.
Oversight & Accountability
The contract was awarded through full and open competition, indicating a standard procurement process. Oversight would involve monitoring contract performance and adherence to the firm fixed price.
Related Government Programs
- Software Publishers
- Department of the Treasury Contracting
- Bureau of Engraving and Printing Programs
Risk Flags
- Potential for vendor lock-in
- Ongoing maintenance costs
- Lack of detailed pricing benchmarks
- Limited information on software criticality
Tags
software-publishers, department-of-the-treasury, dc, delivery-order, 100k-plus
Frequently Asked Questions
What is this federal contract paying for?
Department of the Treasury awarded $169,950.78 to IRIS INTELLIGENCE LIMITED. IRIS PROFESSIONAL USER LICENSES & CONTINUED MAINTENANCE SUPPORT
Who is the contractor on this award?
The obligated recipient is IRIS INTELLIGENCE LIMITED.
Which agency awarded this contract?
Awarding agency: Department of the Treasury (Bureau of Engraving and Printing).
What is the total obligated amount?
The obligated amount is $169,950.78.
What is the period of performance?
Start: 2024-05-01. End: 2027-04-30.
What is the specific functionality of the IRIS Professional User Licenses, and how critical are they to the Bureau of Engraving and Printing's operations?
The specific functionality of the IRIS Professional User Licenses is not detailed in the provided data. However, given its acquisition by the Bureau of Engraving and Printing, it likely supports critical operational or administrative functions. Understanding the software's role is key to assessing its value and necessity, and thus the justification for its cost.
What are the key risks associated with a three-year firm fixed-price contract for specialized software licenses and maintenance?
Key risks include potential vendor lock-in, where switching to a different provider becomes costly or difficult. There's also the risk of overpaying if market prices decrease or if the software's utility diminishes over the contract period. Ensuring the maintenance support adequately addresses evolving cybersecurity threats and software updates is also crucial.
How does the $170,000 expenditure over three years compare to industry benchmarks for similar enterprise software solutions?
Without knowing the specific features and user count for IRIS Professional User Licenses, a direct comparison is challenging. However, for enterprise-level software, this annual spend (approx. $56,650/year) is moderate. Benchmarks vary significantly, but this figure suggests it's not an exceptionally high cost for specialized government software, assuming it meets critical needs.
Industry Classification
NAICS: Information › Software Publishers › Software Publishers
Product/Service Code: IT AND TELECOM - APLLICATIONS
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION
Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY
Solicitation ID: BEPIT-RFQ-24-0057
Offers Received: 1
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Address: 24 BARTON STREET, BATH
Business Categories: Category Business, Foreign Owned, Manufacturer of Goods, Not Designated a Small Business, Special Designations
Financial Breakdown
Contract Ceiling: $169,951
Exercised Options: $169,951
Current Obligation: $169,951
Actual Outlays: $122,357
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES
Parent Contract
Parent Award PIID: GS35F113GA
IDV Type: FSS
Timeline
Start Date: 2024-05-01
Current End Date: 2027-04-30
Potential End Date: 2027-04-30 00:00:00
Last Modified: 2026-04-10
Other Department of the Treasury Contracts
- Advertising Services — $636.5M (True North Communications Inc)
- Cade 2 Ltis3 Covid-19 — $383.8M (Deloitte Consulting LLP)
- Establish a Broad Networking and Telecommunications Service Environment to Meet ITS Network Services (wide Area and Local Area Network), Voice Telecommunications Services, Audio/Video/Web Conferencing, and Cyber Requirements — $320.2M (AT&T Enterprises, LLC)
- THE Internal Revenue Service (IRS), Office of Information Technology Office, Issues This Order Under GSA Alliant 2 (unrestricted). Enterprise Case Management (ECM) Solution Integration Services — $305.5M (Booz Allen Hamilton Inc)
- THE Tfcceis Task Order IS to Transition the Existing Tfcc Services From the Networx Contract Onto the EIS Contract Vehicle in a Manner That Will Enable Continuity of an Enterprise Network of Toll Free Services for the IRS — $264.6M (Verizon Business Network Services LLC)