A Michigan Township came to eBridge to procure a contract to paint its Water Storage Tank. After identifying potential sources, eBridge hosted a reverse auction for the participating 3 suppliers. After the 373 bids were placed, the Township had saved over 13% on budget equating to almost $17,000. The auction had 88 first place turnovers, and the final spread was only 0.0074%.
An Illinois school district saved $114,000 on a paving maintenance contract in a reverse auction with eBridge. Thanks to the reverse auction event, the school district saved 48% of its budget. The 8 participating suppliers offered up 843 bids in only 31 minutes, including 68 first place turnovers and 11 extensions. The final first-second place spread was only 0.0061% confirming that the auction helped them achieve true market value.
The Federal Bureau of Prisons saved $484,000 on a roofing project using eBridge’s reverse auction services. The 15% savings on budget came from a competitive auction among 4 participating suppliers. There were a total of 129 bids with 101 extensions before the final close. In the end the 16 first place turnovers lead to a spread of only 0.0041% between first and second place, showing that the Bureau achieved true market value.
eBridge partnered with the State of South Carolina to purchase light bulbs, lamps, and ballasts for the Materials Management Office. eBridge helped them to save over 4% on the total purchase which equated to over $100,000 in savings. The auction lasted for 61 minutes including 56 lead turnovers and 67 bids placed. After the 3 participating suppliers finished bidding, the spread between first and second was only 0.0051% showing that true market value was achieved.
A South Carolina School District saved over $12,000 on new musical instruments with the help of eBridge’s reverse auction platform. The auction had over 130 bids in just 40 minutes including 95 extensions. There was heated competition among the 3 participating suppliers for first place, which lead to 58 first place turnovers.
A school district in Hawaii was looking to procure new furniture for its classrooms and library. The district partnered with eBridge to find the right supplier at a great price. eBridge helped the schools save a total 36% on furniture using its reverse auction process. The auction consisting of 6 suppliers and had 134 bids, including 23 first place turnovers. The final spread between first and second place bidders was only 0.0004% which let the school know they got true market value.
eBridge partnered with a University Hospital to renew their pest control contract. The auction had 9 participating suppliers, including their incumbent, who were very competitive. During the auction there were over 700 bids, 318 time extensions, 19 first place bid turnovers, and the final spread between the first and second place bidders was only 0.0039%. eBridge helped the Hospital save over $230,000 and beat their budget by 46%.
A Kentucky Care Center partnered with eBridge to purchase new windows using the reverse auction process. The auction had 13 participating suppliers and last for a toal of 55 minutes. During the auction there were 65 bids placed leading to 9 first place turnovers, 63 bidding time extensions, and a spread between first and second place of only 0.0028%. In the end the Care Center ended up saving over $24,000 and beat their budget by 27%.
A North Carolina university hospital used eBridge’s reverse auction platform to purchase a 3 year landscaping contract. The auction had 2 participating suppliers competing for the contract. The auction lasted 16 minutes and had a total of 13 bids placed. Thanks to the reverse auction event, the hospital was able save a total of $360,000 on their budget for a total savings of 25%.
Interesting read from Supply Chain Review about the rising interest in demand for procurement solutions- including reverse auctions.
Large enterprises are back in the market driving big deals, while mid-market firms are implementing sophisticated procurement systems for the first time.
Cloud computing is behind most of the positive trends in this market, including increased adoption, improved collaboration and new forms of application functionality.
I expect 2011 will be a strong year for the procurement systems market.