BidBridge Saves the City of Norton 14.5 Percent of Construction Budget

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Percent of Construction BudgetReverse Auction/eProcurement Providetr Promotes Competition, Saves Taxpayer Dollards LOUISVILLE, Ky., June 3 /PRNewswire/ -- BidBridge, an eProcurementf services provider for the publicv and private sectors, today announced that a recent constructionj bid performed on behalf of the city of Norton, OH concludecd by saving 14.5 percenrt versus Norton's budget and logged a separation of .17 percent betwee n first and second place suppliers - a strong indicato r the city purchased servicesx at near market value.
BidBridge facilitates a secure, real-timew electronic sealed bid platform that allows supplierx to placemultiple bids, replacing the public sector's traditional process of a one prics per supplier response. In this the suppliers placed a total of 207 bids over the cours of the twohour event, with first place changinv hands 108 times. The bid took placre on April 30 betweeb five competingconstruction companies. "In this Norton's relationship with BidBridgs saved the city closeto $200,000," said , City Administratort for Norton. "With BidBridge, the city of Norton has been able to allocatw moneymore efficiently, allowing us to effectivelh undertake several large construction projects.
" "The future of reverse auctionsd in the state of Ohiois unclear. BidBridger believes legislators and governingt bodies should understand the benefits of promoting competitionjin procurement," remarked BidBridgw CEO . "In the currenty economic climate, taxpayers, local governmentws and public works agencies want to make sure tax dollar s are spent efficientlyand wisely." Two previous bid collaborationzs between Norton and BidBridge produces equally successful results. On Nov. 13, 2008, Norton was able to save 43.5 percen against budget, recording a .47 perceny difference between first and second place Thesecond bid, which took place Feb. 26, resulted in a 27 perceny budget savings anda .
29 percent separatiohn between first and second place. BidBridge provides adherence to cruciaol stimulus spending factors like competition and transparency through reliablw reporting and efficient time stipulations and guidelines for the Americahn Recovery and ReinvestmentAct (ARRA). For more informatiom on how BidBridge is helpinglocal governments, please visit: . Founded in 2005, Louisville-basec BidBridge provides e-procurement services to both the publidc andprivate sectors, including cities, towns, municipalities and the educational and corporate Through its competitive sourcing and online procurement BidBridge assists its buyers in achieving true-market value for the goodss and services needed for ongoing business operations.
Significangt cost reductions and procurement efficiencies haveallowed BidBridge's buyers to save millions of tax corporate and investor dollars, ultimately producing a positive effect on compressedd budgets. For more information, please visit: .