Competition fuels savings. GSA ReverseAuction’s fiscal year 2014 performance is a testament to this principle.
GSA ReverseAuction: Year in Review
- More than 21 agencies across government created 900 auctions and saved more than $6 million.
- While 60 percent of the auctions were set aside for small business, agencies awarded more than 85 percent of the procurements conducted through ReverseAuctions to small businesses, totaling more than $19 million.
- ReverseAuctions generated 23 percent savings off standard contract prices.