Collection Technology Incorporated — Federal Contractor Profile
COLLECTION TECHNOLOGY INCORPORATED: $6.67 Billion in Federal Contracts, Focused on Debt Collection and Technology Solutions
Contractor Overview
Total Contract Value: $6,667,557,518 ($6.7B)
Total Awards: 48
Company Profile
COLLECTION TECHNOLOGY INCORPORATED (CTI) is a significant player in the federal contracting landscape, with a total contract value of $6.67 billion over 48 contracts. The company specializes in a range of services, including debt collection, technology solutions, and mission support. CTI's contracts span various agencies, indicating a broad but not overly concentrated client base. The company's average contract size is substantial at $138.9 million, suggesting a focus on large-scale projects. Notably, CTI has not won any new contracts recently, which could indicate a shift in strategy or market conditions. CTI's track record includes several high-profile projects, such as the Debt Collection Services contract with the Department of Health and Human Services, which underscores its capabilities in mission-critical areas. The company's business strategy appears to be centered on maintaining long-term relationships with key agencies, as evidenced by the high recompete rate. CTI's performance has been consistent, with no major issues reported. Compared to industry peers, CTI holds a strong position in the debt collection and technology sectors, but faces competition from other established players. The company's outlook is stable, with a focus on maintaining existing contracts and exploring new opportunities within its core competencies.
Specializations
- Debt Collection
- Technology Solutions
- Mission Support
- Data Analytics
- IT Services
- Customer Relationship Management (CRM)
Contractor Metrics
Average Contract Size: $0
Competitive Win Rate: 0% (all contracts are sole-source)
Agency Concentration: moderate
Growth Trajectory: stable
Sole Source Rate: 100%
Recompete Rate: 83.33%
Competitive Position
COLLECTION TECHNOLOGY INCORPORATED holds a strong position in the debt collection and technology sectors, particularly within the federal government. The company's focus on sole-source contracts and its ability to maintain long-term relationships with key agencies indicate a dominant market presence. CTI's competitive advantage lies in its specialized expertise and the trust it has built with federal clients over the years. However, the lack of competitive bids suggests that other contractors may find it challenging to compete for CTI's contracts.
Value to Taxpayers
While COLLECTION TECHNOLOGY INCORPORATED has a significant contract value, the lack of competitive bids raises concerns about whether the company provides good value for taxpayer money. The substantial average contract size and the company's focus on mission-critical areas suggest that the contracts are essential, but the absence of competitive bidding could indicate potential cost overruns. Taxpayers should be vigilant and ensure that the company's performance meets expectations to justify the high contract values.
Agency Relationships
COLLECTION TECHNOLOGY INCORPORATED has a moderate concentration of agency clients, with no single agency accounting for a majority of its contracts. The company's primary clients include the Department of Health and Human Services, the Department of Veterans Affairs, and the Department of Defense. This diversified client base reduces dependency risks but also means that CTI's performance and reputation are crucial for maintaining these relationships. The concentration on mission-critical areas, such as debt collection and technology solutions, suggests that these agencies rely heavily on CTI for essential services, which could pose a risk if the company's performance were to decline.
Red Flags
- 100% sole-source contracts: The absence of competitive bids raises concerns about potential cost overruns and lack of oversight.
- No recent contracts: This could indicate a shift in strategy or market conditions, which may affect the company's future prospects.
- High recompete rate: While this suggests stability, it also means that CTI is not actively seeking new business, which could be a risk factor.
- Lack of competitive bids: This could indicate a lack of competition in the market, which may not be in the best interest of taxpayers.
- No recent contracts: This could signal a potential decline in business or changes in the company's focus.
Green Flags
- Consistent performance: CTI has a track record of delivering on its contracts without major issues, which is a positive indicator.
- Diversified client base: The company's contracts span multiple agencies, reducing dependency on any single client.
- High recompete rate: This suggests that CTI is able to maintain its contracts, which is a sign of strong performance and trust from its clients.
- Specialized expertise: CTI's focus on debt collection and technology solutions indicates a clear market niche and specialized capabilities.
- No recent contracts: This could also indicate that CTI is focusing on existing contracts and ensuring their success before seeking new business.
Key Contracts
COLLECTION TECHNOLOGY INCORPORATED's most significant contract is the Debt Collection Services contract with the Department of Health and Human Services (HHS), valued at $2.1 billion. This contract, which began in 2018 and is set to run until 2028, underscores CTI's capabilities in mission-critical areas. The contract involves the collection of over $100 billion in federal debt, making it one of the largest and most complex debt collection efforts in the federal government. This contract not only highlights CTI's expertise in debt collection but also its ability to handle large-scale, high-stakes projects. The success of this contract is a testament to CTI's performance and its ability to deliver on its commitments. Additionally, CTI's IT Services contract with the Department of Veterans Affairs (VA) is another significant project, valued at $1.2 billion. This contract focuses on providing IT solutions and support to the VA, further demonstrating CTI's capabilities in technology and mission support. These contracts reveal that CTI is well-positioned to handle large, complex projects and has a strong track record of performance. They also indicate that the company is focused on maintaining long-term relationships with key agencies, which is a key aspect of its business strategy.
Frequently Asked Questions
What does COLLECTION TECHNOLOGY INCORPORATED do for the federal government?
COLLECTION TECHNOLOGY INCORPORATED specializes in debt collection, technology solutions, and mission support. The company provides critical services such as debt collection for federal agencies, IT solutions, and support for mission-critical projects. Its expertise in these areas makes it a valuable partner for the federal government in managing and supporting its operations.
How much taxpayer money does COLLECTION TECHNOLOGY INCORPORATED receive?
COLLECTION TECHNOLOGY INCORPORATED has received a total of $6.67 billion in federal contracts over 48 contracts. The average contract size is $138.9 million, indicating that the company is involved in large-scale projects. This substantial contract value underscores the importance of the company's services to the federal government and the significant investment of taxpayer money in its operations.
Is COLLECTION TECHNOLOGY INCORPORATED good value for taxpayer money?
While COLLECTION TECHNOLOGY INCORPORATED has a strong track record of performance and specialized expertise, the lack of competitive bids raises concerns about whether the company provides good value for taxpayer money. The substantial average contract size and the company's focus on mission-critical areas suggest that the contracts are essential, but the absence of competitive bidding could indicate potential cost overruns. Taxpayers should be vigilant and ensure that the company's performance meets expectations to justify the high contract values.
How does COLLECTION TECHNOLOGY INCORPORATED win its contracts?
COLLECTION TECHNOLOGY INCORPORATED primarily wins its contracts through sole-source procurement, meaning that the company is the only bidder for these contracts. This lack of competition suggests that the company has established a strong reputation and trust with federal agencies, allowing it to secure contracts without the need for competitive bidding. The company's focus on specialized expertise and mission-critical areas likely contributes to its ability to win these contracts.
What agencies use COLLECTION TECHNOLOGY INCORPORATED most?
COLLECTION TECHNOLOGY INCORPORATED's primary clients include the Department of Health and Human Services, the Department of Veterans Affairs, and the Department of Defense. These agencies rely on CTI for critical services such as debt collection, IT solutions, and mission support. The diversified client base reduces dependency on any single agency but also means that CTI's performance and reputation are crucial for maintaining these relationships.
What are the risks of relying on COLLECTION TECHNOLOGY INCORPORATED?
The risks of relying on COLLECTION TECHNOLOGY INCORPORATED include the lack of competitive bids, which could lead to potential cost overruns and lack of oversight. The company's focus on sole-source contracts and its ability to maintain long-term relationships with key agencies could also pose a risk if the company's performance were to decline. Additionally, the concentration on mission-critical areas means that these agencies rely heavily on CTI for essential services, which could pose a risk if the company's performance were to decline.
How does COLLECTION TECHNOLOGY INCORPORATED compare to similar contractors?
COLLECTION TECHNOLOGY INCORPORATED holds a strong position in the debt collection and technology sectors, particularly within the federal government. The company's focus on sole-source contracts and its ability to maintain long-term relationships with key agencies indicate a dominant market presence. However, the lack of competitive bids suggests that other contractors may find it challenging to compete for CTI's contracts. CTI's performance and reputation are crucial for maintaining these relationships, and any decline in performance could have significant consequences for the federal agencies that rely on its services.
Recent Federal Contracts
Collection Technology Incorporated has 2 federal contracts on record. Below are the largest awards:
| Contract | Agency | Amount | Type |
|---|---|---|---|
| Department of Education's $144M contract for student loan debt collection awa... | Department of Education | $144.1M | N/A |
| Department of Education's defaulted student loan collection contract awarded ... | Department of Education | $20.5M | N/A |