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GSA Awards 85% of Auctions to Small Biz in Fiscal 2014

ContractSigningThe General Services Administration has announced that it awarded more than $19 million to small businesses during the fiscal year 2014 through a reverse auction program.

The agency released an infographic on Tuesday that highlights the milestone performance of the agency’s reverse auction program in that period.

Charles Wingate, chief of Branch B within the federal acquisitions services/IT commodities division, writes that GSA awarded 85 percent of auctions to small businesses and reduced costs by 23 percent through the ReverseAuctions program.

More than 21 agencies were also able to save $6 million from 900 auctions they made in fiscal 2014, GSA says.

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