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Joan Kornblith: GSA’s Reverse Auction Sales Reach $11M

1 min read

GSAThe General Services Administration has found that use of a GSA-managed reverse auction portal grew more than 1,000 percent over the past fiscal year.

Joan Kornblith, communications manager at GSA’s Federal Acquisition Service, writes in a blog post published Monday sales generated in the agency’s reverse auction program increased from $737,000 in the first quarter of fiscal 2014 to $10.8 million in FY 2015 first quarter.

GSA launched the platform in July 2013 with the goal of helping federal, state and local government agencies save money when they procure products and services.

The estimated total amount of auction contracts awarded to companies during the past year was $24 million.

Twenty-two public sector agencies that utilize the GSA platform to create auctions have saved approximately $6.8 million, according to Kornblith.

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