Compusearch Enhances Reverse Auctions Service

DULLES, Va., Oct. 23, 2014 /PRNewswire/ -- Compusearch® is pleased to announce enhanced support of reverse auctioning in PRISM™, the acquisition management system widely used by the Federal Government.  In a reverse auction, the buyer posts a request for a required good or service and sellers place bids representing the amount they are willing to be paid to deliver. The responsible supplier with the lowest price is the one normally selected to receive the award. Procurement officials agree reverse auctions stimulate competition, lower purchase prices and save agencies money, while also providing new sales opportunities to small businesses.

A full assessment of the legacy auctions landscape guided Compusearch through the design and delivery of its reverse auction service. This included studying buyers' and sellers' needs, carefully reviewing legacy third party services that agencies had tried, and combing through regulatory guidance and findings. The result: Reverse auctioning in PRISM™ provides agencies with the advantages of:

• Complete control over the acquisition lifecycle, data integrity, and auditability;
• Rational, easily understood approaches to calculating savings; and
• Integrated documentation and reporting throughout the lifecycle of each competition in a database owned by the agency.

"PRISM™ offers reverse auctions as an integrated service within a widely proven, advanced acquisition system," said Compusearch CEO Reid Jackson. "Agencies can realize the savings associated with reverse auctioning and do so within a safe framework that preempts duplicative work, facilitates auditability, and promotes timely and accurate reporting."

About Compusearch
Compusearch® has a 30-year history providing software solutions and systems integration services to help government agencies implement, operate and maintain end-to-end acquisition and grants solutions. Today Compusearch provides its PRISM™ solutions to tens of thousands of users at over 100 civilian, intelligence and defense organizations around the globe with the business intelligence, visibility and control necessary to improve productivity and performance while also meeting increasingly stringent reporting requirements.  For more information, visit www.compusearch.com.

Trademark Information
Compusearch and PRISM are trademarks, or registered trademarks of Compusearch Software Systems, Inc., in the United States and/or other countries.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/compusearch-enhances-reverse-auctions-service-822268928.html

SOURCE Compusearch

Related Links

www.compusearch.com

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