Ex-Im Bank Awards $263K for Cloud Audit Software, Sole-Source Contract Raises Questions

Contract Overview

Contract Amount: $263,802 ($263.8K)

Contractor: Wolters Kluwer Financial Services, Inc.

Awarding Agency: Export-Import Bank of the United States

Start Date: 2021-06-30

End Date: 2026-09-27

Contract Duration: 1,915 days

Daily Burn Rate: $138/day

Competition Type: NOT COMPETED

Number of Offers Received: 1

Pricing Type: FIRM FIXED PRICE

Sector: IT

Official Description: CLOUD HOSTED AUDIT SOFTWARE & USER LICENSES TEAMMATE PLUS (TM+)

Place of Performance

Location: TAMPA, HILLSBOROUGH County, FLORIDA, 33607

State: Florida Government Spending

Plain-Language Summary

Export-Import Bank of the United States obligated $263,802.46 to WOLTERS KLUWER FINANCIAL SERVICES, INC. for work described as: CLOUD HOSTED AUDIT SOFTWARE & USER LICENSES TEAMMATE PLUS (TM+) Key points: 1. The contract is for cloud-hosted audit software and user licenses. 2. The sole awardee is Wolters Kluwer Financial Services, Inc. 3. The contract duration is over 5 years, ending in September 2026. 4. The total value is $263,802.46. 5. The contract was not competed.

Value Assessment

Rating: questionable

The contract value is relatively low for a multi-year software license agreement. Without competitive bidding, it's difficult to assess if the pricing is optimal compared to market rates for similar audit software solutions.

Cost Per Unit: N/A

Competition Analysis

Competition Level: sole-source

The contract was awarded sole-source, meaning no other vendors were considered. This limits price discovery and may result in higher costs for taxpayers than if the contract had been competed.

Taxpayer Impact: The sole-source nature of this award prevents potential cost savings that could have been achieved through a competitive bidding process.

Public Impact

Taxpayers may be paying more than necessary due to the lack of competition. The long contract duration could lock the agency into a specific vendor, potentially hindering future adoption of more advanced or cost-effective solutions. Transparency in government spending is reduced when contracts are not competed.

Waste & Efficiency Indicators

Waste Risk Score: 50 / 10

Warning Flags

Sole-source award
Lack of competition
Long contract duration

Positive Signals

Specific software solution identified
Clear contract end date

Sector Analysis

The IT sector, particularly software licensing, often benefits from competitive procurement to ensure fair pricing and access to innovation. This contract falls under Software Publishers (NAICS 511210).

Small Business Impact

There is no indication that small businesses were involved in this sole-source award, nor is there information suggesting efforts to include them in future procurements.

Oversight & Accountability

The sole-source justification for this contract should be thoroughly reviewed to ensure it was appropriate and that the agency explored all viable competitive options. Post-award monitoring is crucial.

Related Government Programs

Software Publishers
Export-Import Bank of the United States Contracting
Export-Import Bank of the United States Programs

Risk Flags

Sole-source award lacks transparency.
Potential for overpayment due to lack of competition.
Limited opportunity for innovation or better solutions.
Long-term vendor lock-in risk.

Frequently Asked Questions

What is this federal contract paying for?

Export-Import Bank of the United States awarded $263,802.46 to WOLTERS KLUWER FINANCIAL SERVICES, INC.. CLOUD HOSTED AUDIT SOFTWARE & USER LICENSES TEAMMATE PLUS (TM+)

Who is the contractor on this award?

The obligated recipient is WOLTERS KLUWER FINANCIAL SERVICES, INC..

Which agency awarded this contract?

Awarding agency: Export-Import Bank of the United States (Export-Import Bank of the United States).

What is the total obligated amount?

The obligated amount is $263,802.46.

What is the period of performance?

Start: 2021-06-30. End: 2026-09-27.

What was the justification for awarding this contract sole-source, and were alternative solutions considered?

The provided data indicates the contract was 'NOT COMPETED' and awarded as a 'SOLE-SOURCE'. A detailed justification would typically be required by federal acquisition regulations, outlining why only Wolters Kluwer Financial Services, Inc. could meet the agency's needs. This could involve proprietary software, unique integration requirements, or a lack of market availability from other vendors. Without this justification, it's impossible to fully assess the necessity of the sole-source award.

How does the per-unit cost of these software licenses compare to industry benchmarks for similar audit software?

The data does not provide a per-unit cost breakdown, making direct comparison difficult. The total contract value of $263,802.46 over approximately 5 years for cloud-hosted audit software and user licenses is a relatively modest sum. However, without knowing the number of users or specific features, benchmarking against industry standards for similar audit software is challenging. A competitive process would have yielded clearer pricing data.

What is the potential impact on the Export-Import Bank's operational efficiency and data security by using this specific cloud-hosted audit software?

The effectiveness of the software is presumed, as it was selected by the agency. However, the sole-source nature means the agency did not benefit from competitive evaluations that might have highlighted superior features or better value propositions from alternative vendors. The long-term impact on efficiency and security depends on the software's capabilities and the vendor's support, which were not rigorously tested against alternatives in this procurement.

Industry Classification

NAICS: Information › Software Publishers › Software Publishers

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

Competition & Pricing

Extent Competed: NOT COMPETED

Solicitation Procedures: ONLY ONE SOURCE

Solicitation ID: 83310121Q0048

Offers Received: 1

Pricing Type: FIRM FIXED PRICE (J)

Evaluated Preference: NONE

Contractor Details

Parent Company: Wolters Kluwer N.V.

Address: 100 S 5TH ST STE 700, MINNEAPOLIS, MN, 55402

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

Financial Breakdown

Contract Ceiling: $263,802

Exercised Options: $263,802

Current Obligation: $263,802

Actual Outlays: $236,921

Contract Characteristics

Commercial Item: COMMERCIAL PRODUCTS/SERVICES

Cost or Pricing Data: NO

Timeline