The U.S. General Services Administration (GSA) today announced the launch of a government-managed reverse auction platform— reverseauctions.gsa.gov— available through the National Information Technology Commodity Program (NITCP) of GSA’s Federal Acquisition Service (FAS).  GSA expects the platform to deliver increased savings for federal agencies on the most commonly purchased office products, equipment and services, while also making it easier for small businesses to compete for the government’s business.

In a reverse auction, sellers compete to win business from agencies; prices will typically decrease as the competitive auction progresses.  GSA’s new reverse auction platform reduces federal agencies’ acquisition processing time and costs, drives prices and costs down, improves transparency and collection of data, and allows for small business set-asides.

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Full Article at GSA Website:
GSA Launches Reverse Auction Platform for Use by Government Agencies