eSourcing, eProcurement and Reverse Auctions in North Carolina
The North Carolina Department of Administration's Purchase and Contract Division, in its Report on the Procurement Transformation Project recommends the use of Reverse Auctions as a device to reduce government spending.
Reverse Auctions can be utilized effectively by State Agencies, County and Municipal Governments and Local Education Authorities (LEAs) to manage costs in categories such as commodities, capital spend and service contracts.
Many government agencies across the Old North State are falling short in their use of this powerful tool for more effectively managing taxpayer dollars. The reasons for its under utilization vary from a lack of exposure to the strategy to a lack of departmental resources to execute the strategy. LGX Corporation and our partners at Buy Rite Technologies have the solution.
Our team of e-Procurement professionals brings the expertise, technology platform and personnel resources to execute Reverse Auction strategies for your government organization without any direct cost to your budget. We serve as a force multiplier for your procurement team and have proven results that show an average of 18% additional cost reduction above and beyond the good work that your procurement team is already doing.
For example, a mid-sized city in a neighboring state, with a $270 million dollar budget was able to apply this strategy to approximately $80 million of spend, or nearly 30% of its annual budget. Anticipated first year savings for that municipality are in excess of $12 million. The local government absorbed no direct cost, and had no IT intervention as our solution is a stand-alone, independently hosted platform requiring no internal integration.
Contact us today to see how we can begin immediately helping you to better manage your spend, freeing up critical funds for policy priorities or to replenish your fund balance