Compusearch Software Systems’ US-based unit FedBid has secured a new contract to deliver its latest acquisition marketplace to all contracting offices of the US Navy.
The competitively awarded contract is expected to help support the major role the FedBid marketplace plays in supporting the US Navy’s readiness and acquisition strategy for commodity goods and simple services.
Compusearch Software Systems CEO Reid Jackson said: “We have built a great relationship with navy contracting personnel around the world, who turn to FedBid for fast and reliable sourcing for commercial items and services.
“FedBid’s marketplace helps drive significant time and cost savings for Navy buyers, and we look forward to the opportunity to continue supporting them in 2018 and beyond.”
The contract covers a base period of one year and features an option for four additional years.
FedBid’s commercial e-commerce portal, expert sourcing assistance and quality assurance are design to provide enhanced efficiency in the acquisition process, thereby reducing the time spent on procurement actions, while also being fully compliant with the Federal Acquisition Regulation (FAR) and Defense FAR Supplement (DFARS).
In addition, the company’s competitive marketplace offers best-value contract awards based on a real-time view of the current market pricing for the goods or services a buyer intends to acquire.
Navy buyers have awarded several contracts worth a combined total of more than $500m through FedBid’s marketplace over the last 15 years.
The reverse auction marketplace provider FedBid was acquired by Compusearch in October last year, bringing the two firms together with the intention of providing acquisition and spend management products and services to federal sector clients.