eBridge News
‘Tis the season to be merry! Even though summer is here, now is the time to be purchasing for the upcoming winter season.
eBridge recently ran an event for deicing chemicals for a state transportation department.
True market value is our the main goal in each auction that we do here at eBridge and it was achieved on this chemical bid with a margin of 0.29% between first and second place. There were several suppliers competing for the top spot and first place changed hands thirteen times.
It doesn’t have to be raining out to buy a rain jacket and it doesn’t have to be cold to buy deicing chemicals so remember eBridge year-round for all of your purchasing needs.
Have you bought any computers lately? Last Thursday a Michigan school system saved approximately 13.5% on their purchase. Combined there were a total of 52 personal computers to be purchased, both laptops and desktops.
eBridge brought 4 suppliers to the table. First place turned over nine times and the clock extended 22 times. This Michigan school system used our platform to save substantial funds that can now be used in other avenues.
You may not be in the market to purchase computers but our platform is far from limited. We’ve done anything from chickens to heavy equipment. So keep us bookmarked for any of your future purchases where savings is paramount.
Dan Gordon, who serves as the Administrator for Federal Procurement Policy for The Office of Management and Budget, reported that “two promising cost-savings trends have already emerged” and one of these was the fact that “agencies are driving competition by using innovative buying tools such as online reverse auctions.”
To read more… Wyld About Business
Adds Merchant Card Services, Payroll and Corporate Purchasing Cards to Purchasing Solutions
LOUISVILLE, KY (June 1, 2010) – BidBridge, a proven eAuction services provider for the public and private sectors, today announced it will rebrand as eBridge Business Solutions to more fully encompass the company’s service offerings, which now include merchant card, web-based payroll and corporate purchasing card services, in addition to reverse auction purchasing solutions. The new services will extend eBridge’s suite of fully managed business solutions, adding value for established and growing businesses.
“While we were successful in the purchasing space, we recognized a growing need in the marketplace to support daily functions outside of core business product or service offerings,” said eBridge CEO Jim Headlee. “We decided to apply our expertise in purchasing and budget management to expand our offerings for our clients, culminating in the development of the eBridge brand.”
As the newly formed eBridge, the company’s services create efficiencies and limit internal resource consumption, providing support for:
- Purchasing Solutions – eBridge’s purchasing solutions deliver true market value in acquiring goods and services, leveraging a web-based eAuction software platform for full buyer visibility. Experience with strategic sourcing and existing vendor contacts give eBridge clients an advantage in procurement.
- Merchant Card Services – Powered by NPC, taking a consultative approach to merchant card services, eBridge provides a fully managed solution delivering value through statement monitoring and analysis, giving customers a clear picture of the costs associated with accepting credit card payment.
- Payroll – eBridge’s web based processing platform helps customers stay focused on their core business by streamlining payroll and human resource reporting. eBridge recognizes that payroll has evolved in to a commodity based solution, and have structured their payroll service to provide all the features and functionality to effectively pay employees at a very competitive price point. Whether a business pays one employee or 1000 employees, eBridge can help them maximize their payroll system capabilities with a personalized implementation plan.
- Corporate Purchasing Cards – Corporate purchasing cards help reduce costs and create efficiencies in businesses. Streamlining accounts payable functions, corporate purchasing cards assist clients in removing inefficiencies from the accounts payable process.
For more information, visit www.eBridgeGlobal.com.
About eBridge
Founded in 2002, Louisville-based eBridge provides fully managed business solutions creating efficiencies and streamlining business operations. Leveraging years of experience in purchasing, sourcing and budget management, eBridge Business Solutions’ full suite of services includes purchasing, merchant cards, web based payroll and corporate purchasing cards.
For more information, visit: www.ebridgeglobal.com.
BidBridge recently partnered with a community college system to purchase 150 of two different models of elliptical machines to outfit their college system’s fitness centers.
The reverse auction event lasted just 36 minutes with first place changing hands nine times. The four participating suppliers placed 43 bids total on the two types of machines.
The bid ended with the final low bid 24.9% lower than the school system’s budgeted amount! The savings will go directly back in to the school’s budget in order to provide additional programming in their fitness centers.
BidBridge assisted a Kentucky city with the purchase of 11 chemicals for water treatment. Chemicals are a volatile commodity, with pricing for each varying throughout the year.
Twelve suppliers participated in the bid, placing 373 total bids throughout the 2 hour, 20 minute bid. First place changed hands 111 times and the clock extended 215 times, allowing suppliers to continue to compete for the business.
At the conclusion of the bid, the city saved 23% versus budget.
It's no secret that school districts across the country are facing teacher layoffs, school closings and a decrease in extra-curricular programs due to severe budget cuts.
According to a recent article on AOL News California's education budget was cut by $17 billion over the past two years and will be cut another $2.4 billion this year... and more than 23,500 pink slips have been handed out to school employees'
But despite the gloomy headlines, one large school district is taking action. They have teamed with BidBridge to purchase several items including janitorial paper, craft supplies, game rugs and most recently an internet content filtering solution. With an average net savings of 14% on everything run through the process, examining your budget for items appropriate for the reverse auction process should be a no-brainer.
Event Summary: Internet Content Filtering Solution
During a recent event the seven suppliers placed bids on 5 line items comprising the content filtering solution. The contract is for three years.
First place changed hands 46 times and 546 bids were placed during the one hour 38 minute event.
Final price yielded 49% savings versus budget.
So next time you head read a headline about a school closing, see if they're using reverse auctions. Who knows, it could mean a better education for your children and saved jobs.
After a year when road salt prices were significantly higher than normal, prices appear to be declining for this year. eBridge hosted our first road salt bid of the 2010 season for a large Midwestern county.
Six suppliers from across the country bid on the contract. Throughout the course of the competitive bidding event, first place changed hands 19 times, resulting in a total of 98 bids placed among the six suppliers.
The bid concluded at 7.99% lower than 2009 purchase price, providing savings versus last year’s budget for the county and providing a key indicator that prices may be dropping for the 2010 salt purchasing season.
Since the late 1990’s, reverse auctions have revolutionized purchasing through the competitive bidding environment and transparency.
While the case for reverse auctions is obvious, many are challenged by determining the best items to purchase through the process, as not every item is a fit.
In order for an auction to be successful, ask the following questions:
1. Are the specifications neutral and open to competition?
2. Does more than one supplier or company provide this good or service?
Below is a story highlighting the success for a purchase that had open specifications and was able to bring more than one supplier to the able to compete for the business.
A mid-western company needed to purchase furniture to outfit a new facility. BidBridge operations staff worked with the purchasing organization to establish open and neutral specifications and bring additional suppliers to the table.
During the reverse auction event, the suppliers competed aggressively with one another, placing 55 bids through the event and first place changing hands 27 times.
At the conclusion of the event, first and second place suppliers were separated by a mere 0.23%, indicating true market value had been achieved. Based on the company’s budget, the final pricing was 40% lower than expected.
This case study is yet another example of how the competitive bid environment is achieving true market value for buyers and gives suppliers the opportunity to place additional bids in order to win new business.
Saves 28% versus budget on two year contract
A large city in Florida partnered with BidBridge to engage in a contract for the purchase traffic signs to outfit the city for the next two years.
Ten suppliers participated in the bid, placing 164 total lowering bids over the course of the 30 minute bid. First place changed hands 34 times. At the conclusion of the bid first and second place suppliers were a mere 0.26%, indicating true market value had been achieved for the purchase.