Market Overview

New Contract Gives Department of Labor Access to FedBid's Proven Acquisition Marketplace


, a division of Compusearch
Software Systems, Inc.
, today announced that its industry leading,
cloud based, reverse auction marketplace has been selected for use by
the U.S. Department of Labor (DOL) through a newly-awarded contract
available to all DOL contracting offices.

"The FedBid team is proud to support the mission critical work of DOL
Buyers," said Compusearch CEO, Reid Jackson. "We look forward to
continuing our partnership working directly with Buyers to identify and
overcome the unique acquisition challenges they face."

FedBid's contract is one base-year with four option years. The company's
easy-to-use system, expert sourcing, quality assurance and account
management support staff help drive greater efficiency in the
acquisition process, reducing time spent on procurement actions, while
also being fully-compliant with the Federal Acquisition Regulation
(FAR). Additionally, FedBid's dynamic, competitive platform facilitates
best-value contract awards based on a real-time view of current market
pricing for the goods and services a Buyer is looking to purchase.

Over the last 12 years, DOL Buyers have awarded more than $71 million in
contracts through FedBid's marketplace, 95 percent of which went to
small businesses. Compared to their original Independent Government Cost
Estimates (IGCE), FedBid has driven more than $4.9 million in cost
reductions through the use of reverse auctions, while also helping
expand DOL's supplier base and drive efficiency and time savings into
the purchasing process.

About FedBid, Inc.:

FedBid, Inc., a subsidiary of Compusearch
Software Systems, Inc
., is the
industry-leading provider of a reverse auction marketplace, optimizing
how businesses, governments and educational institutions buy the goods
and services they need. Currently, more than 75 federal, state and local
government agencies and departments use FedBid as a key component of
their purchasing strategy. FedBid's innovative, patented acquisition
solution helps Buyers expand their supplier base, while saving time and
money. At the same time, Sellers gain greater access to opportunities to
compete and win contracts. In FY2017, more than 91 percent of contracts
awarded through FedBid went to small businesses. For more information,
visit FedBid online at or
call (877) 9FEDBID.

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