Insurance Company Purchases Construction Materials through Reverse Auction Process

Thursday, July 23, 2009

Insurance Company Purchases Construction Materials through Reverse Auction Process

BidBridge partnered with this insurance company to purchase cable and wire to outfit a new office building.  Six suppliers competed for a contract for cable and wire. Four of the six suppliers were sourced by BidBridge. A total of 72 bids were placed on seven line items. The 46 minute event, including 28 time extensions, resulted in a 50% savings versus budget.

The contract was awarded immediately, and thanks the competitive bidding environment and strategically sourced suppliers; the company already scheduled their next event with BidBridge.