Lexington-Fayette County Government partnered with eBridge to purchase street sweepers and save the city some money while they do it. Having already saved on two previous projects (road salt & digital security) the County Government knew the eBridge process was effective. The reverse auction event helped them to save $44,000 or 7% on the purchase of the street sweepers, showing that eBridge can deliver savings on a diverse set of projects.
Franklin County Board of Supervisors, MS on their second event with eBridge wanted to procure a new Garbage Truck for the county. After working with eBridge, 4 participating suppliers were gathered for the reverse auction event. In total, 60 lowering bids were placed with 33 first place turnovers. The final spread between bidders of only 0.0009% showed that Franklin County had achieved true market value. The county was able to net $18,000 or 14% on budget.
Carroll County needed a new flail mower for the city and turned to eBridge to help them procure it at a great price. eBridge worked with the county to source 12 suppliers of whom 4 participated in the auction. The auction lasted only 50 minutes, but saved the county $25,000 on the purchase. The auction had 57 lowering bids including 15 turnovers and 28 extensions. In the end, the spread was only 0.008% between first and second place bidders, saving Carroll County 13% versus budget.
eBridge recently helped the City of Louisville procure Knucklebooms, Trailers, and a Roll Off Truck in their 33rd event. There were 4 suppliers for the Knucklebooms and Trailers, and 5 suppliers for the Roll Off Truck. There were a total of 118 bids placed, and first place changing 28 times. After the constant movement ended, 1st and 2nd place were separated by only 0.14%, achieving true market value.
Today eBridge is proud to announce a partnership with an international manufacturing firm. The company’s first event was for heavy equipment. The auction featured suppliers in Africa and the United States with the buyer residing in Eastern Europe.
Four suppliers competed for the business, placing multiple lowering bids throughout the reverse auction event. At the conclusion of the online reverse auction event, the final low price was 15.39% below the company’s projected budget.
Efficient procurement is a priority for firms throughout the world. Reverse auctions are applicable for businesses world-wide, due to the universal need for organizations to operate efficiently and profitably.
And because the solution is web-based, buyers and suppliers can be anywhere in the world to participate in a bid!
For the second year in a row eBridge Business Solutions partnered with a midwestern city to purchase three new dump trucks. eBridge ran this same event last year with many of the same suppliers participating.
During the 2010 event, four suppliers competed for the three dump trucks. The four suppliers placed 19 total bids, with first place changing hands 10 times. At the conclusion of the event, first and second place suppliers were separted by a mere 0.17% between the two, indicating that true market value had been found for dump trucks in 2010.
In 2009, the total for three trucks came in at approximately $267,000 and in 2010 the final bid came in at approximately $290,000. Although the trucks came in at $23,000 higher than in 2009, the reverse auction process helped the organization achieve true market value at the current point in time for their purchase.
This event is a prime example of what the reverse auction process ultimately does: finds true market value.
eBridge Business Solutions provides leadership in helping our customers operate more efficiently and profitably. We promise to do what we say we will do to achieve remarkable results- like we did today and always!
Columbia, SC, August 3, 2010–With reports of budget crises in nearly every state, the state government of South Carolina is taking action by incorporating cutting edge technology and industry best practices to increase efficiencies in its purchasing process. One major addition to its purchasing techniques is the reverse auction.
A reverse auction is a secure, real-time electronic sealed bid platform that allows suppliers to place multiple bids, rather than the one price per supplier response traditionally used in the paper bid process.
In July 2009, the State of South Carolina engaged eBridge Business Solutions, a proven eProcurement services provider, through a state contract. Since the inception of the contract, the State has utilized the reverse auction process for purchases budgeted at $5,344,000, resulting in over $1 million or 20.8% savings versus budget.
This savings was achieved over the course of 11 events between the Department of Transportation (DOT) and Information Technology Management Office (ITMO) on behalf of the Department of Motor Vehicles (DMV), Coastal Carolina University, Trident Tech, Midlands Tech, and Department of Natural Resources. A total of seven state organizations have utilized the reverse auction process.
“The State of South Carolina serves as a model for other states by incorporating best practices in purchasing through the reverse auction process”, said Jim Headlee, CEO of eBridge, “We commend State leadership for leveraging technology to be responsible stewards of tax payer dollars.”
The State is scheduled to run several more items this year as well as other city and local government organizations.
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 card management, web based payroll and corporate purchasing cards. For more information, visit: www.ebridgeglobal.com.
Director of Sales and Marketing
Today at eBridge we had a successful bid run for a light-duty rescue truck. A northern city needed to purchase one and eBridge was more than happy to assist. We sourced 12 suppliers to bid, seven of which were new suppliers that had never had the opportunity to earn the city’s business.
Our team of procurement professionals trained each supplier on how the bidding process works and the auction was successful. There were 126 total bids and first place changed 10 times. Since the city chose to run this purchase through the reverse auction format we were able to save them 9.09% off their original budgeted price. We average a savings of 14% but the real goal is to achieve true market value. In this case, true market value was 9.09% below their budgeted price.
Remember eBridge for your light AND heavy-duty needs!
Today at eBridge we ran an auction for wheel loaders. This auction was unique because the purchaser was trading in their two old wheel loaders and purchasing two new ones. In the auction, the supplier bid up the trade-in value for the old wheel loaders’ and bid the new wheel loaders’ price down.
We sourced eight suppliers and there were 142 total bids made. First place turned over 13 times and the winning price came in with 9% savings. We were pleased with the results and look forward to doing business with this purchaser again.
In 2009, eBridge ran a successful auction for a garbage truck for a small city in Oklahoma. This year the city has come back to us to purchase three more trucks. This time they decided to run two separate bids with us; one for the cab and chassis and the other for the trash packer. Six suppliers competed over the packers and four over the cab and chassis. The overall saving generated was 3% and true market value was achieved in both auctions with less than 2% between first and second place.
Here at eBridge we provide a quality “no garbage” process and we would love to run your next purchase through a reverse auction.