A national insurance company partnered with BidBridge for the purchase of steel case furniture through its dynamic eAuction platform.

Due to the unique nature of the furniture, two steel case suppliers competed in the reverse auction process, logging 56 bids and 25 time extensions, demonstrating the competitive nature of the dynamic bidding environment. 

First place changed hands 19 times, with the two suppliers concluding their bidding with a 0.01% spread between first and second place, indicating true market value was achieved.

The insurance company achieved a 23% savings versus budget for this purchase.