Selected for vendor registration in the U.S. federal procurement integrated management system known as SAM (System for Award Management), SyncusTech has finished its initial preparation for launch in the US government procurement market, which is the world’s largest with market size of US$2.2 trillion. Intended to simplify the procurement process of the US Federal Government and achieve cost savings/efficiency, SAM was created by integrating the related systems across various federal agencies. If successful in gaining entry in the US federal government procurement market via SAM, SyncusTech will attain product stability, and thereby pave the way for launch in the overseas export market. SyncusTech will utilize its registration as a SAM procurement vendor as well as a variety of sources and information to establish its reputation and make its excellent product quality widely known in the US market. We will employ our best effort to create a new product lineup most suited to the needs of the US market.
SAM(System for Award Management)
SAM was created as a result of a phased integration of many related systems distributed across the US federal agencies, such as Central Contractor Registry (CCR) and Federal Register (Fedreg). SAM enters, authenticates, stores, and discards data on contracts entered into by the US Federal government agencies and non-profit private organizations and data regarding procurements by public institutions and suppliers. The system maintains the critical registration database for public contracts integrated and managed by the Public Procurement Service. For those companies wishing to enter contract for delivery to the US Federal government and the US Forces in Korea, SAM registration is an essential prerequisite. The contractor registration requires a rigorous six-step review process. Find More about SAM
SAM Contractor Registration Procedure
1. Issuing DUNS number
2. Issuing NCAGE code
3. Determine Item Classification Code
4. Create SAM Account
5. Registration of SAM Entity
6. Judge and registration
SyncusTech D-U-N-S Certificate
DUNS Number(D-U-N-S®, Data Universal Numbering System)
DUNS Number is a company identification number given by the credit information company. It is an international identifier for businesses that is used to specify the company including business sector, financial status, industry classification number and government data. SyncusTech obtained its D-U-N-S Number from NICED&B. In the industrial sector, SyncusTech is classed as Computer and Information Technology Developer which means that it has secured product competitiveness that can win the buyers’ trust in the relevant export field.
NCAGE Code (The Commercial and Government Entity Code)
NCAGE Code (The Commercial and Government Entity Code) is a standardized producer code for cataloging and managing goods and services. As a combination of 5 digits and alphabet, this code is absolutely necessary for domestic companies to bid for international contracts or deliver military supplies to some NATO countries including the U.S. SyncusTech has been granted all the necessary codes and completed the SAM registration by identifying the categories and codes for its products.
Given the fact that only prospective domestic manufacturers are allowed to apply for SAM, business reliability wise, it will matter more for overseas market entry in the future. and further, vendors registered in SAM stand a good chance of proving corporal reputation and product competitiveness. SyncusTech will continue using its efforts for presence in the US market via SAM and furthermore, will actively participate in bidding based on differentiated information exchange and products in overseas markets.