FedBid Wins 5-Year Contract with GSA for e-Commerce Services
January 5, 2006
VIENNA, VIRGINIA, January 10, 2006 - FedBid, Inc., a leading online marketplace for public sector acquisition of commercial items, today announced it has won a five-year contract with the U.S. General Services Administration (GSA) to provide online reverse auction services to GSA and agencies eligible to use GSA Sources of Supply and Services.
“GSA should be praised for implementing creative ways to use GSA Schedules and adding value to agency customers, including GSA’s internal customers, across the federal government and even at state and local levels. As a result of this award, any agency can use the FedBid online marketplace to compete their strategic and non-strategic commodity buys in a dynamic, real-time environment,” said Dr. Steve Kelman, Weatherhead Professor at Harvard’s Kennedy School of Government and member of FedBid’s Board of Advisors.
The initial contract award of one base-year with four option-years allows federal agencies to immediately take advantage of FedBid’s leading online marketplace to competitively bid commodity buys, thereby improving process efficiencies and saving an average of 10 to 15 percent on their acquisitions. In addition, FedBid’s unique system provides procurement officers with the documentation needed to ensure compliance with federal procurement guidelines. GSA and agencies eligible to participate with FedBid under this contract represent approximately $100 billion in commodity buys annually.
The award is the result of a competed solicitation and request for proposal in 2005 and is a Firm-Fixed-Price Task Order under FedBid’s GSA Schedule 70 contract GS-35F-0752R.
“This contact is a result of years of hard work and is doubly sweet because it solidifies our ability to support GSA’s regional procurement teams currently using FedBid, as well as providing a formal mechanism for other GSA offices around the world to begin working with our service,” said John Lee, FedBid’s senior vice president.
The GSA award caps off an exciting year for FedBid, during which the company doubled in size for the fifth year in a row. In addition, the company anticipates more than doubling site transaction volume and revenues in 2006.
ABOUT: FedBid, Inc.
FedBid, Inc. provides online procurement services, including Reverse Auction and associated support services, through its buyer-driven online marketplace, www.FedBid.com. Today, procurement professionals across the federal government use FedBid to procure hundreds of millions worth of commodities and simple services. For more information, visit www.FedBid.com or call (877) 9FEDBID.