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Orbis Online Adds to Savings for Air Force; Saves Lackland over $140,000

Orbis Online, a leading e-procurement solutions provider, announced Wednesday that it successfully completed two real-time reverse auctions for the Air Force, each for the 37th Contracting Squadron of Lackland Air Force Base which resulted in a total savings of $144,262 under published GSA prices. The events, which took place on Thursday, April 7, 2001, and Thursday, May 1, 2001, utilized Orbis Online's proprietary Web procurement technology and enabled the Air Force to purchase 307 state-of-the-art computers and miscellaneous IT software.

During a reverse online auction, a buyer posts a Request for Quote (RFQ) on the Orbis Online website. General Services Administration (GSA) certified suppliers are then invited to bid on the opportunity during a live auction event at a specified date and time. During both auctions, the Air Force could view all the bidders and their bids in real-time. The suppliers who were participating, however, could only tell how many other bidders were present for the auction and their corresponding bids.

Each auction took approximately forty minutes to complete and resulted in a $60,000 savings in April and $84,262 savings in May determined by comparing the prices offered on the existing GSA Schedule.

"Each event is another example of how our technology can work to the benefit of government agencies", said James Strader, Chief Executive Officer of Orbis Online. "We hope to continue to work toward stretching the government's already under-funded budgets and positively impacting the Air Force's bottom line."

Lt. Col. Jacqueline Dovale, Commander, 37th Contracting Squadron, added, "We were very pleased with both auctions. We found the process for our participation to be straightforward and efficient--- and we were especially happy with the savings."

About Orbis Online
Orbis Online is a leading e-solutions provider of delivered real-time web services to businesses and government agencies throughout the world. Orbis Online is a privately held corporation and has a rapidly growing community of registered users, businesses, government agencies and affiliates who enjoy the benefits of its many patent-pending online procurement and asset disposition initiatives.

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