Mary-Louise Hoffman
FedBid has received a potential five-year contract to provide Labor Department contracting offices access to a cloud-based reverse auction marketplace.
The company said Thursday its platform works to help government buyers view current market prices for goods and services in real time.
DOL has awarded at least $71 million in contracts over the past 12 years using the FedBid system and 95 percent of the awards went to small businesses.
More than 75 public sector organizations use the company-hosted marketplace to support their procurement efforts.
