Reverse Auctioning: Saving Money and Increasing Transparency

Reverse auctions—auctions where an organization posts a buying requirement and interested suppliers drive prices down as they bid against one another to win the auction—are a simple idea whose time has come.

Reverse Auctioning: Saving Money and Increasing Transparency by Professor David C.Wyld, is the latest repo

Investing in Technology Can Enable Government to Transform Service Delivery and Reduce Costs

Blog Contributing Author:  Haynes Cooney, Senior Managing Consultant, IBM

This week, the Office of Management and Budget will release its initial budget request to Congress for FY 2018 – following the general timeline that is customary with a change in Administration.  The initial request will be followed by a more detailed presentation to the Congress later this spring. 

Transforming Government Through Technology

The federal government can reduce costs while improving services by adapting private sector cost reduction strategies and technologies to achieve similar benefits in government. This objective is highlighted by a recent report, led by the Technology CEO Council (TCC), in which the IBM Center for The Business of Government participated.

Reverse Auctioning: Saving Money and Increasing Transparency

Simply put, reverse auctions are auctions that enable sellers to “bid down” prices for their goods and services. The use of reverse auctions has substantially increased since Wyld’s initial report in 2000, albeit at a slower pace than anticipated in the earlier study. This new report contains original research on the potential of reverse auctions as a government cost-saving tool that also saves time and increases transparency.