LIVE eAuction clears £9m in savings for the public sector
London, UK - 27 November, 2009 - This morning at 10:00 a.m. GMT, TradingPartners' London office hosted a Live eAuction for 33 local UK authorities. The category was office supplies and the result; a sizable £9m in savings for the public sector. The Weighted English Reverse eAuction continued for over two hours whilst six suppliers continuously bid against each other on the negotiation platform. The participating suppliers used different aggressive and strategic styles of bidding, which lead to a 14% saving on a baseline spend of over £65m on a four year contract.
The client, a collaborative arrangement of 33 local UK authorities, watched their eAuction from the Engine room run by TradingPartners Account Manager Terri Hudson, who worked on the project for 4 months prior to the live event. Hudson said, "It was a great eAuction on a collaborative tender of 33 participants on office supplies. The client was delighted with the results."
The eAuction was designed as a weighted eAuction set at 30% non-price and 70% price, further supporting the mandatory transparency and flexibility requirements surrounding procurement in the public sector. Recent targets to cut public expenditure have been set at £6.1 billion by the end of 2014 as stated in the Operational Efficiency Programme. TradingPartners is the sole approved eAuction provider on the Buying Solutions national framework and aims to continue fully supporting the savings efforts with similar eAuctions in 2010.
About TradingPartners:
TradingPartners enhances and accelerates negotiations between buyers and suppliers using a fully-managed eAuction solution. TradingPartners brings together the right people, process and technology to run online eAuction events that result in substantial and guaranteed cost savings. TradingPartners operates on a global scale with operations across North America, Europe and Asia. More information is available online at www.tradingpartners.com.
Contact:
Ruth Pires, UK Marketing Manager
TradingPartners
email: ruth.pires@tradingpartners.com
Phone: +44 771 789 5124
http://www.tradingpartners.com
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