State of South Carolina Saves over $1 million through Reverse Auction Purchasing

Tuesday, August 03, 2010

State of South Carolina Saves over $1 million through Reverse Auction Purchasing

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.

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 card management, web based payroll and corporate purchasing cards. For more information, visit: www.ebridgeglobal.com.

Press Contact:
Whitney Headlee
Director of Sales and Marketing
whitney.headlee@ebridgeglobal.com