News Column

United States : FedBid and EASi roll out a reverse-auction service for B2B buyers

June 26, 2014

FedBid Inc. and Electronic Auction Service Inc have introduced a new procurement service allowing business buyers to set up reverse auctions for a broad range of contracts.

The new agreement will allow buyers to log onto either or EASi s and post reverse auctions using the supplier networks and software services of either company.

FedBid or EASi each earn revenue through administrative fees added to the invoices sellers send to buyers.

It is explained that in a reverse auction, purchasing company posts information online on what it wants to buy and the desired price. Suppliers can then bid on the contact, providing their bid price and other information, such as available inventory volume and delivery dates.

FedBid furnishes to government agencies, educational and health care organizations that buy products like office supplies, computer hardware, hospital supplies and business services from businesses through reverse auctions on

EASi specializes in helping companies manage relatively complex, multi-product procurement projects for clients including retailers Guitar Center, Gap Inc. and Joann Stores Inc.; health care organizations including the Cook County Health and Hospital System in Chicago, and the cities of Chicago, Philadelphia and Los Angeles.

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Source: TendersInfo (India)

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