Archive for the ‘Industry News’ Category

July 11, 2011 • 11:47am in City Government, County Government, Industry News, State Government 0

Federal Government Could Save Billions Through Reverse Auction

A recent study conducted by the Reverse Auction Research Center revealed that the federal government could save over $4 billion annually by running more commodity and simple service purchases through the reverse auction model. Reverse auctions is already used in some federal government agencies, but not all – and it has not even touched its full potential as a government purchasing best practice.

The Reverse Auction Research Center’s study identified 17 key government sectors in which reverse auction could yield the most savings, with the Department of Defense, Department of Veteran Affairs, and the Executive Branch coming in as the top three.

This quote from David Wyld sums it all up: “There are a lot of tough choices to be made in cutting federal spending, but one solution is a no-brainer: use more reverse auctions for simple buys.”

In light of the current financial difficulties our country is having, reverse auction implementation and expansion would provide much needed savings to our Nation’s bottom-line. eBridge believes that the implementation of reverse auction would provide valuable savings to any government sector willing to take leadership and utilize the technology. We hope to see this practice adopted increasingly in the near future as U.S. citizens and government officials realize its potential for incredible savings.

To see the article from Business Wire, click here

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April 12, 2011 • 4:40pm in Industry News, Press Releases 0

eBridge Joins High Impact Portfolio

High Impact Program identifies Louisville’s top fast-growth companies

LOUISVILLE, KY (April 12, 2011) – eBridge, a leader in fully managed reverse auction procurement services, was recently named to the High Impact Portfolio as one of the top fast-growth companies headquartered in the Metro Louisville Region.  The High Impact Program, a public/private partnership between Louisville Metro Government and Greater Louisville Inc.’s (GLI) ENTERPRISECORP, introduced the newest companies selected to the High Impact Portfolio during ENTERPRISECORP’s Signature Event today.

“Fast-growth companies are critical to the continued economic success of our region,” said Bobby Ferreri, Executive Director of ENTERPRISECORP.  “The High Impact Portfolio honors those businesses poised to lead our community in job growth over the coming years, and it was exciting to see the variety in this year’s companies.”

eBridge provides fully managed reverse auction procurement services, delivering an average net savings of 14% on purchases and creating efficiencies in procurement operations.  eBridge significant growth over the past twelve months is due to an infusion of capital and the addition of seasoned leadership to drive revenue and expand market share.  

“It is an honor to be recognized as one of the fast-growth companies in Louisville,” said Jim Headlee, CEO.  “We are poised for continued growth thanks to a robust service offering and our team of procurement professionals that lead customers deliver savings and drive efficiencies for our clients.” 

The High Impact program strives to nurture the prosperity of Greater Louisville’s growth businesses. Initiated in 2003, the program identifies companies meeting specific criteria, which are then named to the High Impact Portfolio.

Collectively, High Impact Portfolio companies represent $2.3 billion in annual revenues; have a 36 percent average growth rate; have created nearly 3,000 new jobs in our region; and have invested $438 million over the last four years.

About eBridge

Founded in 2002, eBridge Business Solutions, LLC provides fully managed reverse auction services, creating efficiencies and delivering hard dollar savings to the customers’ bottom line.  Leveraging years of experience in purchasing, sourcing and spend management, eBridge creates meaningful value for our customers through leadership in reverse auction procurement and process change consulting.   For more information, visit: www.ebridgeglobal.com.

About the High Impact Program

The High Impact program strives to nurture the prosperity of Greater Louisville’s growth businesses. The High Impact Program is a public/private partnership, funded by Louisville Metro Government and administered by GLI’s ENTERPRISECORP, that identifies and serves fast-growth companies, companies with the potential for fast growth, and those companies that enable growth in others. The program focuses on companies of these types headquartered in Louisville that have a disproportionately higher impact on the metro area economy. For more information on the High Impact Program, visit www.HighImpactLouisville.com.

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April 7, 2011 • 1:16pm in Industry News 0

Republicans Weigh a Federal ‘Reverse Auction’ to Push Clean Energy

On Monday the New York Times featured an article discussing U.S. Rep Kevin Nunes proposed legislation to increase domestic energy production.  Any savings would be put in to a trust where businesses could bid, via reverse auction, on funds for research and development of renewable energy sources.  

From the article:  The provision sits deep in H.R. 909, a bill Rep. Devin Nunes (R-Calif.) proposed in early March. Overall, the bill focuses on ramping up oil and gas production, oil shale and nuclear energy; it also cancels U.S. EPA’s ability to regulate greenhouse gases.

Some of the royalties and fees from the oil and gas production go into a trust fund. The Department of Energy then solicits offers from renewable power generators and awards the funds to those that offer the lowest price.

It’s called a “reverse auction” for renewable energy, and it’s an idea Democrats have floated in past Congresses. Now it comes from a Republican majority that has questioned climate science and pressed for more fossil energy — and could easily have put the cash toward the deficit.

To read the full article click here.

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April 1, 2011 • 3:55pm in Industry News 0

Business alliances will remain a popular strategy

Importance of ext. relationships in the recovery; likelihood cos. will pursue strategic partnerships
The economic landscape over the past few years has forced organizations to look internally to find ways to create efficiencies in their supply chain and business operations to preserve resources.  

A recent study released by CFO research studies  surveyed almost 200 global senior finance executives and found that forging partnerships with third parties still remains a top priority.  The survey explains that “companies are finding that a partnership strategy born of necessity can also be a valuable part of a growth strategy“. 

At eBridge lock arms with our customers by providing fully managed purchasing solutions to deliver measurable results- averaging 14% net savings in everything run through the process and creating efficiencies in procurement processes.

The article concludes by stating, in an uncertain economy the greater risk may be in going it alone.

Is your organization forming strategic partnerships to stay afloat during these uncertain times?

To read the full article, click here.

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April 1, 2011 • 2:40pm in eBridge, Industry News 0

Restaurant Groups Looking for Ways to Create Efficiencies in Supply Chain

Today’s Wall Street Journal features an article about the initiatives large restaurant chains are taking to create efficiencies in their supply chains.  Companies like Starbucks, Darden Restaurants (owner of Red Lobster and Olive Garden chains) and Texas Roadhouse are hedging prices on ingredients and looking for ways to purchase cooperatively to give the groups more buying power and more leverage with their suppliers.  

“We’re seeing a level of sophistication in supply-chain management that didn’t exist five years ago,” said Dave Donnan, a partner in the consumer products practice at consulting firm A.T. Kearney.  “The separation of those that will succeed and those that will fail will be based on attention to detail.”

How is your organization paying “attention to detail” to improve your supply chain? 

Click here to read the full article.

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April 1, 2011 • 2:24pm in Industry News 0

Practicing Boldness in Reverse Auction Procurement

Each month eBridge focuses on a character trait to help staff grow personally and professionally- and to exemplify these traits in our daily business interaction with customers.  This month we are focusing on boldness- “the confidence to say or do what is true, right and just”. 

Each day eBridge provides value to our customers through our leadership in the reverse auction process.  Part of this process is encouraging our clients to be “bold”- with their suppliers, internal purchasing teams and with company leadership- to implement a new idea – even if it goes against status quo.

In the same way, we commit to our customers to be “bold”: to do what we say we will and be worthy of their trust.  This means operating with transparency and challenging them to be more efficient in their purchasing process.  

In our discussion about boldness, one member of our team pointed out, “boldness is like a muscle we exercise.  The more we use it, we increase our ability to act with courage in the future.”  Another team member pointed out, “fear keeps us from being bold.  If you don’t face your fears, you will start making choices to avoid them rather than overcome them.”

We encourage you to join with our team this month and practice boldness by facing your fears and exploring opportunities to challenge the status quo.  What areas of growth does your organization have and where can you practice boldness to help achieve more remarkable results?

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March 15, 2011 • 3:10pm in Industry News 0

eProcurement Use on the Rise, including reverse auctions

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.

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March 15, 2011 • 2:45pm in Industry News 2

Using Reverse Auctions to Purchase Law Services?

From renewable energy credits to frozen turkeys just about anything can be run through the reverse auction.  And now a young lawyer named Robert Grant Niznik has developed a website that allows individuals to post their cases online and lawyers then bid on the cases via a reverse auction.

Some in the legal industry oppose the idea, calling the site the “eBay of lawyering,” and argues the reverse auction style service will lower the integrity of the legal profession.”  But Niznik argues that “the site enables attorneys to expand their client base and gain credibility” and that “lawyers have nothing to lose and “everything to gain” from joining the site.”  He adds that “financially challenged clients who ‘get turned away from legal aid’ can use the site to obtain affordable legal advice”, as supported by an ABAJournal.com post last year describing how many in the middle-class are stuck in legal limbo because they make too much money to qualify for legal aid, but not enough to afford an attorney.

What do you think?  Do you think it’s an appropriate and respectable to market legal services?  What are the advantages?  Disadvantages?

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March 1, 2011 • 10:53am in Industry News 0

11 Phrases for 2011: Taking your Business From Ordinary to Extraordinary

In Dr. Frank I. Luntz’s latest book “Win: The Key Principles to Take Your Business From Ordinary to Extraordinary,” he highlights “11 phrases for 2011′ calling them ” the phrases that you should or would be hearing if the political and business leaders really were listening to America”. 

Check out the phrases below.  Are you taking your business from ordinary to extra ordinary?

 LUNTZ’S 11 for ’11:

 –’Imagine’ is still the most powerful word in the English language because it is inspiring, motivating, and has a unique definition for each person.

 –’No excuses.’ Of all the messages used by America’s business and political elite, no phrase better conveys accountability, responsibility and transparency.

 –’I get it.’ This explains not only a complete understanding of the situation but also a willingness to solve or resolve the situation. It’s short, sweet and effective.

 –’If you remember only one thing…’ is the surest way to guarantee that voters will remember the one point that matters most to you. This is essential in complicated situations like the upcoming debt ceiling vote.

 –‘Uncompromising integrity.’ Of all the truthiness words, none is as powerful as ‘integrity,’ but in today’s cynical environment, even that’s not enough. People also need to feel that your integrity is absolute.

 –’The simple truth’ comes straight from billionaire businessman Steve Wynn, and it sets the context for a straightforward discussion that might otherwise be confusing or contentious.

 –’Believe in better’ comes from BSkyB, the satellite television provider owned in part by Rupert Murdoch’s News Corp. empire. Of all the corporate mission statements of the Fortune 100, ‘believe in better’ is the second-most popular — and it applies to politics as well.

 –’Real-time.’ This is not a pitch for Bill Maher. Many Americans were furious that they couldn’t get the details of the health-care legislation in a timely fashion. ‘Real-time’ communicates receiving information at the speed of life.

 –’You decide.’ No, this is not paying homage to Fox News. The lesson of 2010 is that Americans want control of their lives back and they don’t want Washington or Wall Street making their decisions for them.

–’You deserve.’ This comes from DNC Chairman Tim Kaine and it was first employed by him in his highly praised 2006 SOTU response. It tells voters exactly what they should expect from their politicians and their government.

– ‘Let’s get to work’ was employed by Florida Governor Rick Scott (R) in his successful campaign. No other end-of-speech rallying cry is more motivational to voters.

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