ORBIS ONLINE AWARDED STATEWIDE CONTRACT FOR
REVERSE AUCTION SERVICES BY UNIVERSITY OF TEXAS SYSTEM
San Antonio, Texas - October 7, 2002 - The University of Texas
System (UTS) has awarded exclusive contract number 2002C00132 for reverse
auction services to Orbis Online. The contract can be used not only
by the University System, but also by any institution of higher learning
or agency in the state of Texas that buys goods and services for the
state. The contract was granted on September 13, 2002, and runs for
five years, with two optional extensions of two years each.
"Texas is a leader in technology, and the state recently pioneered
laws that enable all state agencies and institutions of higher learning
in Texas to use and benefit from reverse auctions," says Dr. James
Strader, Chief Executive Officer of Orbis Online. "If state agencies
and institutions of higher learning use the auctions regularly, we expect
to save the state of Texas more than one billion dollars over a five-to-seven-year
period of time, based on historical savings achieved through the Orbis
Online reverse auction platform," adds Dr. Strader.
The State of Texas is committed to using the process of online reverse
auctioning as a powerful catalyst for saving money on the goods and
services that it purchases every day. In a recommendation posted on
the e-Texas website, www.e-Texas.org,
Texas Comptroller, Carole Keeton Rylander states, "Web-based procurement
systems, like reverse auctions, can produce significant savings for
organizations in two ways. The first is by lowering transaction costs.
The second way is by reducing the actual sale price of goods by creating
more competition between buyers or sellers through electronic auctions."
Additionally, the Comptroller has recommended that the Texas Building
and Procurement Commission be permitted to use reverse auctions and
to be able to delegate that authority to other state agencies.
Key to winning the contract was the ability of Orbis Online to provide
both self-service and full-service auctions. In a full-service auction,
Orbis Online conducts the auction for the buyer. Customers can conduct
self-service auctions on a desktop computer, with Orbis Online providing
technology and support services.
Another important factor to the contract award was proprietary technology
from Orbis Online that allows for easy and seamless integration of the
Orbis Online technology platform into any website in a manner of minutes,
with no integration costs. This technology brands the reverse auction
platform with the "look and feel" of the customer's website.
When potential vendors come to the website to participate in a reverse
auction, they arrive and stay at the buying organization's site, not
the site of Orbis Online. The data storage and calculations, however,
are still housed on Orbis' servers. This technology is exclusive to
Orbis Online, which has applied for a patent.
Reverse Auctions Offer Efficiency and Savings
The benefits of reverse auctions are not exclusive to the buyer in a
dynamic pricing event. Vendors can also benefit, because they spend
less time preparing extensive paper documents for a static one-chance
bid. Vendors that participate in reverse auctions benefit by seeing
their competitors' bids and having the opportunity to submit counter
offers to better compete in a transparent market environment, significantly
improving their chances to secure the business.
About Orbis Online, Inc.
Orbis Online, Inc., headquartered in San Antonio, Texas, offers patent-pending
dynamic competitive pricing tools that significantly reduce the cost
of products and services versus historical procurement methods. Orbis
transforms the traditional competitive bidding process into more powerful
events that are live, online and worldwide. Orbis' value proposition
is unique. The superior functionality of the solution includes all the
benefits customers can normally experience only by purchasing or developing
custom systems and requires no up-front costs or software installation.
Orbis Online is a Qualified Information Services Vendor (QISV) for the
state of Texas. Vendors that achieve QISV status are pre-approved for
use by any state agency or other qualified state entity.
For more information about Orbis Online, Inc., please visit our website
or call (210) 576-7600. Demonstrations of Orbis Online's unique auction
platforms are available at the website: www.wsdemo.com
or can be facilitated by contacting Orbis Online directly.
The Qualified Information Services Vendor (QISV) Purchasing Program
of the state of Texas allows state agencies and political subdivisions
to purchase automated information systems products and/or services in
an efficient, cost effective, and competitive manner. The program provides
comprehensive lists of pre-approved vendors to qualified state procurement
entities, which can immediately purchase the products and/or services
of listed vendors.
Reader Contact Information:
Orbis Online, Inc., 100 NE Loop 410, Suite 500, San Antonio, TX 78216,
Tel: 210-576-7600, Fax: 210-576-0760, www.orbisonline.com, email@example.com.
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