eBridge’s procurement team worked closely with the company to create specifications that allowed multiple companies to bid on the contract.  eBridge led both the buyer and suppliers each step of the process, as it was the first reverse auction experience for many of the participating suppliers.

Seven suppliers were approved and participated in the event, placing a total of 187 bids during the reverse auction.  First place changed hands 21 times and first and second place suppliers were separated by a mere 0.17% indicating true market value for the labor services was found.  At the conclusion of the event the buyer saved 14% versus budget or approximately $1,806,000.