eBridge News
When a large state university needed to purchase pool covers for their swimming facility, they enlisted the expertise of eBridge and its purchasing strategy to get the job done.
Three suppliers competed on three different swimming pool covers, each varying in size and specifications.
The largest swimming pool cover in the bid yielded eight first place turnovers with 21 total bids, resulting in 26 time extensions. At the conclusion of the bid, a mere 1.8% difference between first and second place bids, indicating that true market value had been achieved. The overall savings for the three swimming pool covers combined was nearly 25% versus budget.
BidBridge partnered with this insurance company to purchase cable and wire to outfit a new office building. Six suppliers competed for a contract for cable and wire. Four of the six suppliers were sourced by BidBridge. A total of 72 bids were placed on seven line items. The 46 minute event, including 28 time extensions, resulted in a 50% savings versus budget.
The contract was awarded immediately, and thanks the competitive bidding environment and strategically sourced suppliers; the company already scheduled their next event with BidBridge.
In this school district’s fifth bid with BidBridge, 5 suppliers competed on a copy paper contract. The 5 suppliers placed a total of 76 bids over the course of the 35 minute bidding event, leading to 15 first place turnovers and a differential of only .19% between the first and second place suppliers at the conclusion of the bid.
This competition allowed this copy paper bid to beat the established state contract price by over $3.00 per case. Had the school system simply purchased their desired 18,480 cases on state contract they would have spent an extra $55,440.
PR Newswire
LOUISVILLE, Ky. July 21 /PRNewswire/ — For the first time ever this past May, the Town of Vail, CO traded in the one-time paper bid process it normally uses to acquire construction services. Instead, Vail decided to rely on a reverse auction e-procurement platform to obtain slurry seal road services for more competitive pricing and to save taxpayer dollars.
“Ultimately, Vail wanted to look at alternatives to the paper bid process,” said Chad Salli, P.E., Project Engineer for the Town of Vail. “With the emergence of more efficient technology and strategies that can help us get a fairer price for services, the decision was not a difficult one.”
To run the reverse auctions, Vail called upon Louisville-based BidBridge, an eProcurement services provider for the public and private sectors that has worked with more than 400 public agencies. BidBridge facilitates a secure, real-time electronic sealed bid platform that allows suppliers to place multiple bids on a project, replacing the public sector’s traditional process of a one price per supplier response.
On May 27, the electronic bid took place between three construction service suppliers and helped save the town 19 percent against budget. The auction process lasted 58 minutes, producing 14 first place turnovers and 35 total bids.
“Vail was able to achieve a 1.44 percent difference between first and second place bidders – a solid indicator that market value was achieved,” remarked BidBridge CEO Jim Headlee. “BidBridge’s visibility and reporting capabilities allowed Vail officials to monitor the entire process while empowering them with a simple means to record the auction for future reference.”
Chad Salli added, “BidBridge provides a service that is truly crucial to efficient spending for local governments. Especially in a time of such economic uncertainty, the public sector has to use every means available to make sure money is spent wisely.”
BidBridge provides adherence to crucial stimulus spending factors like promoting competition and transparency through audit trails. For more information on how BidBridge is helping local governments, please visit www.bidbridge.com.
About BidBridge
Founded in 2002, Louisville-based BidBridge provides e-procurement services to both the public and private sectors, including cities, towns, municipalities and the medical, educational and corporate sectors. Through its competitive sourcing and online procurement system, BidBridge assists its buyers in achieving true-market value for the goods and services needed for ongoing business operations. Significant cost reductions and procurement efficiencies have allowed BidBridge’s buyers to save millions of tax payer, corporate and investor dollars, ultimately producing a positive effect on compressed budgets.
The university sought BidBridge to assist in the purchase of IT equipment. Four suppliers placed 128 competitive bids over the course of the 1 hour 7 minute auction. The competition of the four suppliers led to 52 time extensions and 34 total first place turnovers across the three items of the bid.
The second line item was an Enterprise Tape Library, and on this item alone there were 23 first place turnovers resulting in a 0.18% difference between first and second place. The end result was $18,000 savings versus budget, and a compelling case for the university to award.
To Provide Reverse Auction Services for Cities, Towns, Municipalities, Schools
LOUISVILLE, Ky., July 14 /PRNewswire/ — BidBridge, an eProcurement services provider for the public and private sectors, today announced it has been awarded the reverse auction provider contract for procurement services for government entities in the State of South Carolina.
The agreement positions BidBridge as the statewide reverse auction platform in procurement of goods and services for state government entities like cities, towns, municipalities, schools and other government-sponsored organizations. An experienced provider of state and local government e-procurement services, the company has worked with more than 400 public agencies nationwide.
BidBridge works by facilitating a secure, real-time electronic sealed bid platform that allows suppliers to place multiple bids, replacing the public sector’s traditional process of a one price per supplier response.
BidBridge CEO Jim Headlee remarked, “The State of South Carolina is positioning itself as a progressive leader in responsible procurement. This partnership stands to encourage state leadership to provide innovative methods like BidBridge to be the best stewards of their state’s tax dollars.”
BidBridge agreement with the State of South Carolina is just the latest example of a partnership between a high profile purchasing organization and BidBridge (from CNBC). The State of Indiana has used BidBridge’s reverse auction platform to run more than $40 million dollars of sealed bids, resulting in millions of dollars of savings during a time when budgets are tight.
Additionally, the City and County of Denver, Colorado and the City of Chicago have begun to realize the rewards of utilizing BidBridge’s proven procurement strategies.
“…Indiana is a rare island of solvency in a national sea of red ink,” [Governor Mitch] Daniels said in a written statement. “As the auditor’s report shows, that’s true for only one reason, because we have been far more careful about spending than other states. Staying above water will require daily vigilance and continued innovation to stretch every dollar and keep spending down.”
The State of Indiana’s efforts to “look for efficiencies and cost savings” has led to a partnership with BidBridge starting in 2007 when the State of Indiana ran its first event with BidBridge. Since then, BidBridge has hosted over $50 million of purchases through its procurement process, producing a total savings of nearly $5 million to the State’s bottom line. BidBridge is proud of its partnership with a state that takes it upon itself to continually innovate.
Rob Wynkoop, State Procurement Officer stated, “BidBridge understands the procurement process. Their proven leadership and expertise continues to produce tangible savings for the tax payers of Indiana.”
BidBridge understands the pressure and uncertainty public purchasing organizations face as a result of receiving stimulus funds.
As a result, we have created an ARRA Reference Guide for our customers containing information to assist in understanding the level of education, accountability, transparency, and competition that is being demanded by our government.
The ARRA Reference Guide includes the following:
- Quick facts
- Where the money is being spent
- How the money is awarded
- Eligibility and reporting requirements
- Is your team prepared?
The ARRA Buyer Reference Guide is now available to registered BidBridge buyers for free download at http://resources.bidbridge.com/.
If you are not a registered BidBridge buyer, you can register today at https://bids.bidbridge.com/registration at no cost or obligation. Once you have registered with BidBridge, you will have full access to our Resource Library.
Here is a list of basic requirements that cities, counties, schools, and other purchasing organization will have to meet in order to have access to ARRA funding:
- DUNS Number
- Accountability and Transparency
- Infrastructure projects must be certified to have received full reviews and vetting as required by law
- Investments must be reported quarterly
- Registered with Central Contractor Registration (http://www.grants.gov/)
- Annual Audit
- Grant funds must be audited annually per Single Audit Act Amendments of 1966
- National Environmental Policy Act
- Environmental Assessment to determent if Environment Impact Statement required
- Uniform Relocation Act
- Policies regarding compensation of those displaced from home or business by a public program
- Section 504 of the Rehabilitation Act of 1973
- Disabled persons shall not be excluded from participation or denied benefits based solely on disability
- Davis Beacon Act
- Workers on federally funded projects must be paid at least the locally prevailing wage and benefits
- Buy American
- No Recovery Act funds may be used in the building, repair, maintenance, or alteration of a public building or work unless all of the “iron, steel and manufactured goods used in the project are produced in the United States”, with certain exception
- Equal Education Opportunities Act
- Faculty, staff, and students may not be discriminated against and school districts are required to overcome barriers to students’ equal participation
- Title VI
- Discrimination based on race, color, or national origin in programs receiving federal assistance is prohibited
- Title VII
- Workplace discrimination or harassment on the basis of race, color, national origin, religion, or sex is prohibited
- Title IX
- Prohibits discrimination based on sex in education or activity receiving federal money
- Age Discrimination Act of 1975
- No discrimination on basis of age in program or activity receiving federal money
- Fair Housing Act
- In sale, rental, or financing of dwellings, no discrimination based on race, color, national origin, religion, sec, familial status or handicap
- Fair Credit Reporting Act
- In consumer credit reports, promotes accuracy and ensures privacy of information
- Age Discrimination in Employment Act
- Employment discrimination against persons 40 years old or older prohibited
- Americans with Disabilities Act
- Under certain circumstances, discrimination based on disability is prohibited
- Historic Preservation Act
- Required review process for all federally funded projects affecting sites listed or eligible to be listed on the National Register for Historic Places
Source: North Carolina League of Municipalities Southern City
Spending Stimulus Dollars Wisely: BidBridge Promotes Competition in Public Works eProcurement
As public sector organizations examine American Recovery and Reinvestment Act (ARRA) stipulations and guidelines, eProcurement services provider BidBridge announces its alignment with the Stimulus Act, providing adherence to crucial stimulus spending factors like competition and transparency through reliable reporting and efficient time allocation.
BidBridge facilitates a secure, real-time electronic sealed bid platform that allows suppliers to place multiple bids on a project, replacing the public sector’s traditional process of a one price per supplier response. BidBridge has already worked with more than 400 public agencies, leveraging extensive experience in a young market.
Fostering Competition with Reverse Auctions
According to the White House Office of Management & Budget’s “Initial Implementing Guidance for ARRA,” “Competition is the cornerstone of our acquisition system…Competition saves money for the taxpayer, improves contractor performance, curbs fraud, and promotes accountability for results. Agencies should review their internal policies with a goal towards promoting competition to the maximum extent practicable.”
“The reverse auction promotes ultimate competition because it provides suppliers the opportunity to submit multiple bids in a sealed environment, ultimately finding true market value,” said Jim Headlee, CEO of BidBridge. “Consequently, local and state governmental bodies are saving taxpayer funds by creating an atmosphere for efficient, fair competition. What BidBridge offers is a cost-effective, timely and efficient avenue for running reverse auctions in a secure, electronic environment.”
Transparency and Reporting through BidBridge’s eProcurement Platform
To increase accountability, the ARRA stipulates that state and local agencies should provide detailed reports of how funds have been allocated. BidBridge’s secure web-hosted platform allows clients to monitor and manage the bid process from open to completion, providing real-time tracking with complete transparency for government organizations. Buyers can follow supplier bids as they are placed, and BidBridge’s eProcurement system logs all aspects of the bid process for detailed reporting after the auction is complete.
Because the platform is web-based, no cost or installation for software is required. BidBridge provides suppliers with a web-based tutorial on how to engage bids via the BidBridge platform and helps educate buyers on how the bidding process works.
Timely Delivery of Services
ARRA guidelines state that appropriated funds should be spent in a timely manner and state and local agencies should adhere to reporting deadlines. Additionally, funding will be made available in increments over a specific timeline.
BidBridge provides its clients with immediate access to resources and tools designed to assist procurement professionals in achieving the rewards of efficient purchasing. Electronic procurement eliminates the need for physical data transmission and takes place in a real-time environment, allowing decisions to be made much more quickly than in the traditional one price per supplier bid environment.
Leveraging Expertise to Guide the Process
Throughout the buyer’s relationship with the company, BidBridge helps identify the right type of purchases for the reverse auction format while providing valuable assistance in spec development to ensure the buyer gets the product it wants at a fair market price. BidBridge’s team of professionals deploys strategic solutions to help expand the pool of qualified suppliers competing for its clients’ opportunities.
For news and more information on BidBridge’s stance on stimulus spending, please visit: http://strategies.bidbridge.com.
About BidBridge
Founded in 2005, Louisville-based BidBridge provides eProcurement services to both the public and private sectors, including cities, towns, municipalities and the medical, educational and corporate sectors. Through its competitive sourcing and online procurement system, BidBridge assists its buyers in achieving true-market value for the goods and services needed for ongoing business operations. Significant cost reductions and procurement efficiencies have allowed BidBridge’s buyers to save millions of tax payer, corporate and investor dollars, ultimately producing a positive effect on compressed budgets.
For more information, please visit: http://www.bidbridge.com/.