Thomas Magnani Of Triple Canopy 2012 Prediction: Increase In Protective Security Services

Written by on December 27, 2011 in Exec Moves, Federal Government - Comments Off

Tom Magnani, Triple Canopy

WashingtonExec 2012 Predictions Issue: Execs Speak Out

2012 is fast approaching, and with it comes big changes in the Federal IT industry.  WashingtonExec is giving local executives the opportunity to share their thoughts on where they see the government contracting industry headed.  Leaders of the industry were asked a series of predictions questions focused on challenging issues such as cloud computing, healthcare IT, defense and so forth.

According to Tom Magnani, CFO at Triple Canopy:

“Projected federal budget cuts will increase competition resulting in a lower number of government contractors in the coming years. Decreased budgets will also drive contractors towards diversification, moving away from government contracting into commercial and overseas markets. In addition to dealing with the anticipated budget reduction, the contracting community will face increased expenses due to rising government compliance requirements.”

“Triple Canopy focuses on OCONUS government contracting and from our company’s standpoint, the operating environment for all contractors in Afghanistan will become more difficult as the U.S. government begins to accelerate withdrawal plans.   In the near term, we see an increased demand for our protective security services, primarily from U.S. companies conducting projects in Iraq, as the military completes its anticipated pull out at the end of 2011.”

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