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BidBridge and Fort Smith, AR Successfully Host First Reverse Auction Event to Acquire Water Treatment Chemicals

Posted on: Tuesday, 18 August 2009, 09:00 CDT

FORT SMITH, Ark., Aug. 18 /PRNewswire/ -- In light of a highly volatile chemical market, the city of Fort Smith, AR decided to partner with Louisville-based BidBridge this July to host a reverse auction for acquiring water treatment chemicals. The city chose to work with BidBridge because its bidding process promotes close competition, leaving the city feeling confident that they achieved true market value for their purchases.

In the end, Fort Smith was able to obtain a number of chemicals including liquid ferric sulfate and aluminum chloride at market value, posting .28 and .31 percent differences respectively between first and second place.

BidBridge facilitates a secure, real-time electronic sealed bid platform that allows suppliers to place multiple bids, providing an alternative to the public sector's traditional process of a one price per supplier response. The July 22 bid saw nineteen suppliers competing to supply 14 different chemicals for the city.

"Our partnership with BidBridge was a success, right from the start. They were exceptional in assisting us with this bid and enabled us to tap into a vendor market that was not available to us in the past," said Alie Bahsoon, Purchasing Manager for the City of Fort Smith. "Not only did we realize the benefits of true market value with this bid but it also enabled us to have a team of experts on our side that assured success, from beginning to end, and at no cost to the city."

By the time the 49-minute bid was finished, the bid had logged 122 times extensions. The most competitive line items, liquid ferric sulfate and aluminum chloride, logged 107 bids with 16 first place turnovers and 16 bids with 6 first place turnovers, respectively.

"The BidBridge platform was created for robust, dynamic electronic procurement, fostering competition in an environment based on the most efficient technology available," remarked BidBridge CEO Jim Headlee. "Our team is there for cities like Fort Smith to help make the process as seamless and painless as possible."

About BidBridge

Founded in 2005, Louisville-based BidBridge provides e-procurement services to both the public and private sectors, including cities, towns, municipalities and the medical, educational and corporate sectors. Through its competitive sourcing and online procurement system, BidBridge assists its buyers in achieving true-market value for the goods and services needed for ongoing business operations. Significant cost reductions and procurement efficiencies have allowed BidBridge's buyers to save millions of tax payer, corporate and investor dollars, ultimately producing a positive effect on compressed budgets.

For more information, please visit: www.bidbridge.com.

SOURCE BidBridge

Source: PR Newswire

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