The City of Hollywood, FL wanted to contract security services through eBridge’s reverse auction process. The bid was extremely competitive with 23 approved suppliers. There were over 2,338 bids placed, with 177 time extensions, and 97 total first place turnovers. The lowest spread between 1st and 2nd place was a mere 0.07%, an amazing true market value. The City of Hollywood had a 36% savings on their budgeted value.
eBridge has been selected as the exclusive provider of reverse auction services by the North Carolina Hospital Association Strategic Partner Program. The NCHA sees eBridge as a great solution for member purchases that are not covered by their current Group Purchasing Organization. NCHA members needed a way to run bids on non-medical equipment like copiers, furniture, and generators and eBridge gives them a solution. Additionally, eBridge is great for capital improvement bids and local service contracts for the healthcare industry. eBridge was selected after NCHA representatives contacted ten references and presented the solution to their board.
eBridge teamed with a Georgia county to purchase copy paper. There were 12 highly competitive suppliers, with 28 first place turnovers. The 30 minute bid had an additional 39 time extensions, as the suppliers continued to lower their bids. The spread between 1st and 2nd place was 0.11%, showing an amazing true market value. The Georgia country had a savings of 6.67% on their budgeted value. They were pleased with their savings, as the fuel price increases this year has added cost to their paper deliveries.
A private California company recently ran a bid for their corrugated shipping containers. There were 5 suppliers, who placed a total of 76 bids. Market value was attained with a 1.06% difference between 1st and 2nd place, after 23 total first place turnovers. This new buyer is now so pleased, they are planning to run 2 additional auctions with eBridge.
In their first eAuction with eBridge, a California State University purchased restroom paper towels, toilet tissue, and dispensers. The 2 suppliers competing for the 2 year contract had given presentations to the university prior to the auction. There were a total of 17 bids, and 1st place had 2 turnovers.
eBridge recently helped the City of Louisville procure Knucklebooms, Trailers, and a Roll Off Truck in their 33rd event. There were 4 suppliers for the Knucklebooms and Trailers, and 5 suppliers for the Roll Off Truck. There were a total of 118 bids placed, and first place changing 28 times. After the constant movement ended, 1st and 2nd place were separated by only 0.14%, achieving true market value.
A California University needed 93 copiers, and wanted the option to lease or purchase. There were eight suppliers approved to participate in the bid, which lasted for an hour and 13 minutes. The bidding was competitive, with 199 total bids and 14 first place turnovers. The spread between 1st and 2nd place was a only 0.65%, demonstrating true market value. eBridge’s process helped the university save 33% versus their budget, on their first auction.
A private New Albany, IN company recently utilized the reverse auction process to acquire 177 workstations for assembly. Through eBridge’s assistance they were able to develop their specifications to better qualify their suppliers. Through this qualification process, 3 suppliers participated, placing 116 bids. The event lasted a little over an hour, with 1st place exchanging hands 17 times. The company is pleased with the results, and saved 10.43% on their budgeted price through their first auction with eBridge.
An Arkansas municipality ran a bid for wastewater treatment chemical for the third year in a row with eBridge. The total value was approximately $2 million, and the buyer was again pleased with the results. The reverse auction was run to establish a contract price on 15 different chemicals for next year. The most active chemical was reduced 83 times during the bidding. After the dust settled, 1st and 2nd place were separated by a mere 0.02%. eBridge runs chemical bids for several municipalities and water districts and now has a large number of registered suppliers that are interested in competing for the business. This particular bid had 22 different suppliers involved in the bidding.
A southern state recently ran paper and ink toner annual purchase contracts through eBridge. All government entities in the state will be able to purchase off these state contracts and the value is expected to be in excess of $7 million. The bids were extremely competitive, showing the significance of reverse auctions in achieving true market value for the buyer. In the end, the low bidders were separated by less than 1% on every key lot. Specifically, in one lot (valued at $1 million), first and second place were separated by only $23 after lowering their bids multiple times. There has been a significant increase in the price of paper over the last year, due to rising fuel costs. Despite that increase, the state will be paying less for 8 ½ x 11 copy paper under the new contract than it did under the old contract, which was run using traditional methods. Initial estimates are that the state saved at least $500,000 by utilizing the eBridge reverse auction.