8.5 trillion reasons to celebrate Public Procurement Month

8.5 trillion reasons to celebrate Public Procurement Month

Global public procurement spend is estimated at around $8.5 trillion USD annually. While that number sinks in, consider that public procurement represents an average of 13% of GDP and makes up about one third of total government expenditures in OECD countries. It is...
3 myths about reverse auctions in the public sector

3 myths about reverse auctions in the public sector

Anyone who has experienced the adrenaline rush of participating in an auction — whether in person or vicariously through popular shows like Storage Wars — knows that the rapid-fire competition and the promise of getting a good deal are hard to resist. Reverse auctions...
Demystifying reverse auctions in the public sector

Demystifying reverse auctions in the public sector

Real-time reverse auctions can be a significant source of savings — both in time and money — for public procurement teams. They’ve been recognized as a legitimate public tendering format in the US since 1997 and used in federal and state procurement since 1999....