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DOL Awards FedBid New Reverse Auction Support Contract

DOL Awards FedBid New Reverse Auction Support Contract - top government contractors - best government contracting event
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DOL Awards FedBid New Reverse Auction Support Contract - top government contractors - best government contracting eventFedBid has received a potential five-year contract to provide Labor Department contracting offices access to a cloud-based reverse auction marketplace.

The company said Thursday its platform works to help government buyers view current market prices for goods and services in real time.

DOL has awarded at least $71 million in contracts over the past 12 years using the FedBid system and 95 percent of the awards went to small businesses.

More than 75 public sector organizations use the company-hosted marketplace to support their procurement efforts.

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Written by Mary-Louise Hoffman

is a writer of news summaries about executive-level business activity in the government contracting sector. Her reports for ExecutiveBiz are focused on trends and events that drive the GovCon industry to include commercial technologies that private companies are developing for federal government use. She contributes news content to ExecutiveBiz’s sister sites GovCon Wire and ExecutiveGov.

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