Orbis Online's e-Procurement
Platform Generates Savings for Major University
(San Antonio, Texas) July 18, 2001 - San Antonio-based Orbis Online,
a leading e-procurement solutions provider, announced that it recently
facilitated a successful online real-time reverse auction for The University
of the Incarnate Word, resulting in a savings for the University of
approximately 29% versus historical costs.
The University of the Incarnate Word, one of the many outgrowths of
the original mission that brought the Sisters of Charity of the Incarnate
Word to San Antonio in 1869, and a Charter Member of the Hispanic Association
of Colleges and Universities, submitted a RFQ (Request for Quote) for
lighting fixtures, lamps and ballasts for their building retrofit project.
As facilitator of the live event, Orbis Online recruited several suppliers
to participate in the reverse auction, which was conducted utilizing
Orbis Online's patent-pending web-based e-procurement solution. During
the thirty-minute live event, the suppliers bid and counter-bid competitively
on individual lots or on the total RFQ until the completion of the auction.
The results of this rigorous competition were the cost savings for the
University of 29%.
"Dr. Louis J. Agnese, Jr., President of the University of the Incarnate
Word, was thrilled with the results of the reverse auction," commented
Dr. James Strader, Chief Executive Officer of Orbis Online. "It is our
privilege to continue to partner with the University on these types
of technology initiatives."
"The University of the Incarnate Word has always embraced technology
and Dr. Agnese championed the program from the very start. He saw the
value of bringing the Internet technology and competitive bidding process
together through our auction platform. We look forward to assisting
the University in the future with their procurement needs," said Lety
Strass, Sales Manager for Orbis Online.
About Orbis Online, Inc.
Orbis Online, Inc., headquartered in San Antonio, Texas, offers a patent-pending
online competitive bidding tool that significantly reduces the costs
of products and services versus traditional procurement methods, and
is transforming the traditional competitive bidding process into live,
more powerful events worldwide. What makes Orbis Online's value proposition
so unique is superior solution functionality combined with no up-front
costs and no software installation, but with all the benefits customers
can normally only have by buying or developing their own in-house systems.
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