$ 875,000.00 Million WORTH OF PO's …… WHAT IS FEDBID ?

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$ 875,000.00 Million WORTH OF PO's …… WHAT IS FEDBID ?

 user 2009-10-27 at 10:36:27 am Views: 101
  • #22699

    $ 875Million WORTH OF PO’s ,WHAT IS FEDBID ?
    FedBid Announces Record $875 Million Worth of Purchases by Government Buyers in FY2009
    Despite Difficult Economic Climate, Purchases Increase by More Than 20% Over
    Prior Fiscal Year; Buyers Save $95 Million Through Reverse-Auction Process
    VIENNA, Va.–FedBid, Inc., The Buyer-Driven Online Marketplace for commodity buys, today announced that government buyers purchased more than $875 million worth of
    products and commodities in FY2009, more than a 20% increase over total purchase
    value in FY2008. Using the Company`s reverse auction marketplace to meet the
    challenges of the difficult economy, government buyers saved approximately $95
    million from the amount they planned to spend. FedBid buyers completed almost
    twelve thousand individual purchases during the fiscal year. “Where others saw adversity, we saw opportunity,” said John Lee, FedBid`s Senior Vice President. “Over the past year, FedBid has solidified its position as the world`s premier online reverse auction marketplace, helping procurement professionals lower their costs while giving sellers thousands of new
    opportunities for business. While we are pleased at our growth over the past
    year, we are even more excited about the positive feedback we`ve gotten from our
    customers about the efficiency, transparency, savings and convenience of using
    FedBid for their purchasing needs. During the coming year, we plan to continue
    to aggressively expand our existing business while exploring new ways to make
    FedBid`s reverse auction marketplace more broadly available.”

    The largest purchase categories through FedBid in FY2009 were IT products,
    office equipment, and office supplies, although buyers also purchased everything
    from security equipment and chemicals to trained canines.

    Among the agencies that awarded new multi-year contracts to FedBid during FY2009
    were U.S. Army, Bureau of Alcohol Tobacco Firearms and Explosives, Department of
    State, Federal Bureau of Investigation, Federal Communication Commission, and a
    number of Department of Homeland Security components, including Customs and
    Border Protection, Federal Emergency Management Agency, Immigration and Customs
    Enforcement, Transportation Security Administration, Federal Law Enforcement
    Training Center and Office of Procurement Operations. Other agencies awarding
    contracts to FedBid included Federal Aviation Agency and Environmental
    Protection Agency. More than three thousand buyers from dozens of major federal agencies and more than 30,000 sellers now participate in the Company`s reverse auction
    marketplace. Continuing the trend from FY2008, over 84% of the dollars awarded
    through FedBid in FY2009 went to small businesses.

    ABOUT: FedBid, Inc.
    FedBid, The Buyer-Driven Online Marketplace at http://www.FedBid.com, is the leading
    online marketplace for acquisition of commodities and simple services. To date,
    procurement professionals have used FedBid to procure billions of dollars worth
    of commodities and simple services from thousands of businesses around the U.S.
    For more information, visit FedBid online at http://www.FedBid.com or call (877)
    9FEDBID. FedBid – Better Buying | Smarter Selling

    FedBid, Inc.