Compusearch has updated its reverse auctioning support service for the federal government.
The company sought to address buyers’ and sellers’ requirements, reviewed legacy third party services and considered regulatory guidance in the design of the refreshed PRISM acquisition management system, Compusearch said Thursday.
Federal agencies requests for goods and services through PRISM and sellers that respond with the lowest price receive the award.
“PRISM offers reverse auctions as an integrated service within a widely proven, advanced acquisition system,” said Reid Jackson, Compusearch CEO.
“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,” Jackson added,
PRISM is built to help agencies control the acquisition lifecycle, identify approaches to calculating savings and unify documentation and reporting functions throughout the competition lifecycle.