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.
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%.
In a service auction for elevator and escalator maintenance for the Public Works department, eBridge’s customer received 53% savings. Our client’s cumulative savings will be over $400,000 for this contract. It was an exciting bid to watch. Five local suppliers placed a total of 604 lowering bids. First place changed hands 169 times and the spread between 1st & 2nd was 0.14%. The auction captured pricing on rates such as repair per hour, overtime, holidays, and material markups. The buyer chose not to award to the lowest supplier but awarded to the supplier they believed provided the best overall value.
A large school district in Chicago’s northwest suburbs recently saved 47% off budget on a service contract for Parking Lot Paving and Maintenance. The three-year contract will see a reduction in costs of $115,000 and the winning vendor was an incumbent.
eBridge’s Specification Development Team suggested a new approach to capturing the pricing. The auction broke it down into measurable, responsible pieces by square and liner footage that helped minimizing inefficiencies. This recommendation helped them to standardize their pricing for future projects, provided exact measurements of their property (provided by vendors), and solidified their budget for the next 3 years.
eBridge ran another elevator maintenance bid yesterday. This time, a client in North Carolina with 142 elevator units was looking to consolidate to one service provider and significantly upgrade their level of service. The prospective suppliers submitted detailed proposals and toured the site prior to the online reverse auction. Four of the prospective suppliers were approved, by the buyer, to participate in the bidding event. All of the suppliers lowered their bids during the event with the two incumbent suppliers really battled for the business. After an hour of bidding, 1st and 2nd place were only separated by $500 or .08% of the total value of the contract. This bid was a fantastic example of the competition and value that a well-run reverse auction can generate for service contract bids. As a private entity, the buyer is not obligated to award to the low bidder. In this instance, the buyer knows they are getting a great price from either of the top two bidders and can base their decision completely on the quality of service provided.
A Southern Indiana Company partnered with eBridge for the 3rd time, to procure their Flat IDC Wire Cables. There were 3 participating suppliers in this event, which lasted for 28 minutes. Forty-two bids were placed, with a spread of 7.53% between 1st and 2nd place. The Southern Indiana Company saved 15.6% on their budgeted value, and was pleased with the process.
Yet another successful auction runs with eBridge! Tommy Edge, our Georgia representative, was present for the pine straw mulch bid where eBridge brought six suppliers to the table. There were fifty-eight bids placed and ten time extensions. Over the course of the bid, first place changed hands ten times with an end result of over 34% under the purchaser’s budget.
Our number one goal it to give our clients the edge in the market and we do that by helping them achieve true market value. In this mulch bid we reached that goal with a 1.4% difference between the first and second place bidders. As your partner, we want to achieve this for your business purchasing needs so give us a call!