FedBid.com provides an online procurement service that includes reverse E-auction and associated support services through the Buyer-Driven Online Marketplace located at www.fedbid.com. It helps federal, state, and local government agencies connect with prime and small business federal contractors. Predominately, buyers who use FedBid.com buy computer hardware and software, security supplies, industrial, laboratory, facilities and automative equipment, office supplies, furniture, and miscellaneous supplies. This is not a hard and fast rule, though. You can find many products through FedBid, and contractors may want to look at the service to see how much certain products are selling for.
According to FedBid.com, “FedBid dramatically improves efficiency and transparency in the public sector procurement process. Utilizing Internet technology, FedBid helps the public sector Buyer manage an ever-increasing workload by automating the notification, competition and documentation aspects of that process. FedBid's value lies in its ease-of-use, speed and efficiency, ability to provide comprehensive information and documentation, and in its ability to help ensure procurements comply with the Federal Acquisition Regulations (FAR). In addition, FedBid's risk-free transactional fee approach not only eliminates upfront investment, license fees or maintenance costs by Buyers or Sellers, but it also provides Buyers with guaranteed results.”
Benefits to the Buyer
- Saves Time - With automated feeds to FedBizOpps and an easy-to-use interface that can be used without regard to geographic location and without implementation or training worries, FedBid saves time and frees up Buyer resources for complex procurements.
- Stretches Budgets - By saving money and providing guaranteed results, FedBid helps Buyers do more with less money.
- Improves Procurement Documentation - FedBid provides complete, detailed information for each procurement, including all Sellers contacted and all Bids and No Bids received.
- Improves Regulatory Compliance - FedBid delivers regulatory compliance, price reasonableness and process transparency to help Buyers eliminate waste and misuse of taxpayer dollars.
- Increases Small Business Utilization - By improving opportunity access, FedBid has facilitated award of over 80% of all dollars to small businesses.