GSA Formatted Product Tool FPT

GSA's Formatted Product Tool (FPT) is an innovative module designed to automate and standardize the process of comparing prices for identical products under GSA Schedules. This blog post provides an overview of the FPT, and how it can affect contractors. We'll also delve into how Blackfyre can assist your business in navigating this valuable tool.

What is FPT?

Short for Formatted Product Tool, FPT is a module within GSA’s eOffer/eMod system. Its purpose is to streamline the uploading and pricing process for products. It works by standardizing Manufacturer Part Numbers (MPNs), UPC-A data, and product descriptions, thereby facilitating automated price comparisons. As a result, it eliminates the need for separate upload of product catalogs to GSA Advantage!, making life simpler for contractors.

Key Features of FPT:

• Automated Price Comparisons: Product lists, including MPNs and UPC-A data, are standardized for easy comparison.
• Various Upload Methods: Contractors can upload proposed pricing on-screen, using a template, or via EDI.
• Reporting: FPT generates reports with standardized lists and flags pricing outside established ranges.
• Contractor Interaction: It allows contractors to either accept identifications or provide responses regarding MPN accuracy and adjust pricing to align with established ranges.
• Contract Officer Review: COs review submitted pricing and negotiate through Excel before approving and processing catalogs automatically to GSA Advantage!.

Benefits of FPT

1. Reduces Risk of Rejection: By identifying established pricing ranges before submission, contractors can reduce the risk of having their prices rejected.
2. Streamlines Market Research for COs: Automates a portion of market research, potentially leading to faster approval of new offers and modifications.
3. Eliminates Separate GSA Advantage! Uploads: Integrating directly with GSA Advantage!, the tool optimizes efficiency.
4. Facilitates Product Comparisons: Enables buyers to easily compare identical products, promoting fair competition.

Who Does FPT Affect?

FPT initially affects companies holding or obtaining GSA Schedules 72, 58 I, with plans to progressively include other schedules like 75, 73, 51 V, IT 70, and more. It's worth noting that contractors will experience a bilateral mass modification to acclimatize to the FPT.

How Does FPT Affect Existing Contractors?

Existing contractors will go through a “baselining” process where they submit their entire product catalog through the eMod process using the FPT module. This baseline modification will supersede their existing GSA Advantage! catalog, and while not mandatory, contractors are encouraged to accept this modification with a 60-day window to complete the baselining process once they do.

Who Should Not Accept the FPT Modification Initially?

As per GSA’s training webinars, contractors with more than 100,000 line items, as well as those who hold specific schedules or BPAs, should initially refrain from accepting the FPT due to its initial limitations.

How Blackfyre Can Assist:

• FPT Navigation: From understanding the tool to uploading your catalog, Blackfyre can guide you through the FPT process.
• Strategic Planning: We can assist in analyzing your product range to align with established pricing ranges, and devise responses for flagged items.
• Training and Support: Our team can provide training and support for your staff to understand and effectively use the FPT module.
• Continuous Updates: Keep abreast with ongoing changes and enhancements to the FPT and GSA Schedules with guidance from Blackfyre.

As GSA continues to innovate and streamline its processes, understanding and leveraging tools like the Formatted Product Tool is crucial for GSA Schedule holders. At Blackfyre, we are committed to providing comprehensive support and strategic guidance to seamlessly navigate these changes, to ensure your business stays competitive and compliant in the government marketplace. Don't hesitate to contact us today to learn more about how we can assist with adapting to the FPT and maximizing your GSA Schedule contract. Boasting a team led by a former GSA Schedule Reviewer, we pride ourselves on offering the best GSA Schedule Consulting services on the market.