Taxpayers and small businesses are benefitting from the ReverseAuctions program, the General Services Administration said.
In fiscal 2014, 85 percent of auctions awarded through the initiative went to small businesses even though 60 percent was set aside for them, and overall, reverse auctions generated 23 percent savings off standard contract price, an Oct. 21 blog post says.
Those small-business procurements totaled more than $19 million.
Additionally, more than 21 government agencies created 900 auctions and saved more than $6 million, according to the blog.
“Competition fuels savings. GSA ReverseAuction’s fiscal year 2014 performance is a testament to this principle,” wrote Charles Wingate, chief of a branch of the agency’s Federal Acquisitions Services’ Information Technology Commodities Division, on the blog.
ReverseAuctions is an online tool for agencies to use at no additional cost to buy simple commodities and services.
Keep reading this article at: http://www.fiercegovernment.com/story/gsa-small-businesses-benefitting-reverse-auctions/2014-10-22
