SEC Awards $22.19M for Web Services Support to Procentrix, LLC

Contract Overview

Contract Amount: $22,187,046 ($22.2M)

Contractor: Procentrix, LLC

Awarding Agency: Securities and Exchange Commission

Start Date: 2021-02-26

End Date: 2025-02-28

Contract Duration: 1,463 days

Daily Burn Rate: $15.2K/day

Competition Type: FULL AND OPEN COMPETITION AFTER EXCLUSION OF SOURCES

Number of Offers Received: 6

Pricing Type: FIRM FIXED PRICE

Sector: IT

Official Description: SEC WEB SERVICES SUPPORT

Place of Performance

Location: WASHINGTON, DISTRICT OF COLUMBIA County, DISTRICT OF COLUMBIA, 20549

State: District of Columbia Government Spending

Plain-Language Summary

Securities and Exchange Commission obligated $22.2 million to PROCENTRIX, LLC for work described as: SEC WEB SERVICES SUPPORT Key points: 1. Contract value of $22.19M over 4 years. 2. Competition method: Full and open after exclusion of sources. 3. Risk: Moderate, given the duration and fixed-price nature. 4. Sector: Information Technology (Computer Systems Design Services).

Value Assessment

Rating: good

The contract value of $22.19M over approximately 4 years suggests a reasonable annual spend. Benchmarking against similar IT support contracts would provide a clearer picture of value.

Cost Per Unit: N/A

Competition Analysis

Competition Level: full-and-open

The contract was awarded under full and open competition after exclusion of sources, indicating a competitive process. This method generally promotes price discovery and fair market value.

Taxpayer Impact: The competitive award aims to ensure taxpayer funds are used efficiently for essential web services support.

Public Impact

Ensures continued operation and support for SEC's web services. Supports critical functions of the Securities and Exchange Commission. Potential for innovation in web service delivery.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Potential for scope creep over the contract duration.
Reliance on a single vendor for critical web services.

Positive Signals

Competitive award process.
Clear contract end date.

Sector Analysis

This contract falls under IT services, specifically computer systems design. The annual spend of approximately $5.55M is within the typical range for specialized government IT support contracts.

Small Business Impact

The contract does not indicate any specific set-asides for small businesses, and the prime contractor, Procentrix, LLC, is not listed as a small business. Further analysis would be needed to determine small business participation.

Oversight & Accountability

The Securities and Exchange Commission is the contracting agency, implying internal oversight. The contract's duration and value warrant regular performance reviews and accountability measures.

Related Government Programs

Computer Systems Design Services
Securities and Exchange Commission Contracting
Securities and Exchange Commission Programs

Risk Flags

Fixed-price contract
Long contract duration
Potential for vendor lock-in
Lack of explicit small business set-aside

Frequently Asked Questions

What is this federal contract paying for?

Securities and Exchange Commission awarded $22.2 million to PROCENTRIX, LLC. SEC WEB SERVICES SUPPORT

Who is the contractor on this award?

The obligated recipient is PROCENTRIX, LLC.

Which agency awarded this contract?

Awarding agency: Securities and Exchange Commission (Securities and Exchange Commission).

What is the total obligated amount?

The obligated amount is $22.2 million.

What is the period of performance?

Start: 2021-02-26. End: 2025-02-28.

What specific web services are included in this contract?

The contract specifies 'Computer Systems Design Services' (NAICS 541512). This typically encompasses a range of activities including the design, development, integration, and maintenance of computer systems and related software. For this contract, it likely includes support for the SEC's public-facing websites, internal web applications, and associated infrastructure.

What are the primary risks associated with this contract?

Key risks include potential vendor lock-in, challenges in adapting to evolving web technologies over the contract's four-year term, and the possibility of cost overruns if the fixed-price model doesn't adequately account for unforeseen technical complexities or scope changes. Ensuring robust performance metrics and change control processes is crucial.

How does this contract contribute to the SEC's mission effectiveness?

Reliable and efficient web services are fundamental to the SEC's mission of protecting investors, maintaining fair, orderly, and efficient markets, and facilitating capital formation. This contract ensures the continuous operation and potential enhancement of these critical digital platforms, supporting public access to information and regulatory functions.

Industry Classification

NAICS: Professional, Scientific, and Technical Services › Computer Systems Design and Related Services › Computer Systems Design Services

Product/Service Code: IT AND TELECOM - INFORMATION TECHNOLOGY AND TELECOMMUNICATIONS › IT AND TELECOM - APLLICATIONS

Competition & Pricing

Extent Competed: FULL AND OPEN COMPETITION AFTER EXCLUSION OF SOURCES

Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY

Solicitation ID: 50310221R0001

Offers Received: 6

Pricing Type: FIRM FIXED PRICE (J)

Evaluated Preference: NONE

Contractor Details

Address: 2551 DULLES VIEW DR STE 600, HERNDON, VA, 20171

Business Categories: Category Business, Corporate Entity Not Tax Exempt, Foreign Owned, Not Designated a Small Business, Special Designations, U.S.-Owned Business

Financial Breakdown

Contract Ceiling: $22,187,046

Exercised Options: $22,187,046

Current Obligation: $22,187,046

Actual Outlays: $22,187,046

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES

Cost or Pricing Data: NO

Parent Contract

Parent Award PIID: 50310219D0011

IDV Type: IDC

Timeline