GovTideSM Benefits
GovTide is much more than “just” an e-Procurement system. GovTideSM has many economic and business benefits to the community.
Transparency
The use of GovTide’s RFP/Reverse Auction system means bid submissions and bid selection are open. The terms and conditions are disclosed. If neede, taxpayers can see the impact that their dollars are making, and where their dollars go. Reverse Auctions save money by getting the best possible price. GovTideSM‘s Rich Reporting system gives community leaders feedback. Questions like these can now be answered.
How many businesses did the we do business with that are inside the City/County?
How many are within the our state? outside of our state?
What ones are small business?
Competitiveness
Because GovTideSM supplies real-time quotes from vendors during the bid process, vendors/registered businesses get immediate feedback on whether their bid is in the lead or lag position. Use RFP’s for Strategic Sourcing, while using Reverse Auction for Commodities. The electronic bidding (RFP or Reverse Auction) will enable savings of 9% to 11% *. Questions like these can now be answered.
How much savings did we have as compared to using GovTide?
How much did we save from Reverse Auctions directly?
Did our GovTide portal allow easier interaction for bids with local business?
Economic Diversity
For every dollar spent on local businesses, $.73 on the dollar stays in the local economy. For every dollar spent on non-local businesses, only $.38 stays in the local economy. That’s less than 1/2 of the initial investment.
* VentureStats & GovTide installs
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