VIENNA, Va.--(BUSINESS WIRE)--FedBid, Inc., today announced that the U.S. Department of Agriculture (USDA) has awarded a contract to FedBid for utilization of its reverse auction services. The contract was awarded through the U.S. Forest Service and is available for use by Buyers within all USDA agencies.
“Over the years, USDA Buyers have delivered significant results for their agency and taxpayers through the competition that FedBid facilitates in our marketplace of more than 90,000 Sellers, and we are incredibly pleased to see this partnership renewed,” said FedBid CEO Joe Jordan. “Using our marketplace, Buyers at USDA and other agencies are able to leverage patented technology, with a suite of managed services that only FedBid can offer, to purchase more efficiently and effectively, save time and money, and expand their small business supplier base.”
FedBid is the largest commercial provider of reverse auction services and is used by more than 75 different local, state and federal government agencies and departments to support their acquisition strategies for making best value contract awards on commodity goods and simple services purchases.
Since 2011, USDA Buyers have awarded more than $25 million in contracts through FedBid’s marketplace, more than 90 percent of which went to small businesses. Compared to their original Independent Government Cost Estimates (IGCE), FedBid has driven more than $4 million in cost reductions through the use of reverse auctions, while also helping expand USDA’s supplier base and drive efficiency and time savings into the purchasing process.
FedBid’s USDA contract is a blanket purchase agreement (BPA) that can be utilized by procurement staff in all of the department’s agencies, as well as Service First agencies. FedBid’s easy-to-use system, expert sourcing, quality assurance and account management support staff help drive greater efficiency in the acquisition process, reducing time spent on procurement actions, while also being fully-compliant with the Federal Acquisition Regulation (FAR). Additionally, FedBid’s dynamic, competitive platform facilitates best-value contract awards based on a real-time view of current market pricing for whatever a Buyer is looking to purchase.
About FedBid, Inc.:
FedBid, Inc., is the industry-leading provider of reverse auction services, optimizing how businesses, governments and educational institutions buy the goods and services they need. FedBid’s innovative, patented acquisition solution helps Buyers expand their supplier base, while saving time and money. At the same time, Sellers gain greater access to opportunities to compete and win contracts. In 2016, more than 90 percent of contracts awarded through FedBid went to small businesses. For more information, visit FedBid online at www.FedBid.com or call (877) 9FEDBID.
