Louisville, KY (PRWEB) August 15, 2008
One year after transitioning to a new name, new business model and new management team, BidBridge has attained unprecedented growth by providing procurement officials with ever-tightening budgets, a reverse-auction platform within which prices are driven down by supplier competition. Working primarily with municipalities, educational institutions and school districts, BidBridge has gone from managing online auction events for its clients in four states in January, 2007, to over 28 states in 2008 including Hawaii and Canada.
With its rapid growth, BidBridge has added 8 new employees since January 2007 (bringing its total number to twelve) and has recently relocated its headquarters from Breckenridge Lane to the award-winning IMAAGE building at 7501 New LaGrange Road. BidBridge is occupying 5,000sq. ft. on the second floor of the building.
The concept of BidBridge was originally developed by procurement and government services experts in 1999 under the name AMT. After an acquisition by a Louisville, Kentucky-based investment group, BidBridge was officially incorporated in 2007. As part of the complete asset purchase, a new management team led by President Clay Masters, new business model, and new name were instituted.
Since January 2007, BidBridge has rapidly grown to become a leading provider of procurement solutions to over 350 professional purchasing organizations. Significant cost reductions and procurement efficiencies have allowed BidBridge's buyers to save millions of tax payer, corporate and investor dollars, ultimately producing a positive effect on shrinking purchasing budgets. In the first two quarters of 2008 alone, BidBridge has had more volume and more revenue than the years 2005, 2006, and 2007 combined.
BidBridge is utilized in both the public and private sectors, including state governments, cities, towns, municipalities and the medical, educational and corporate sectors. The company's growth in 2007-2008 has been achieved through a partnering effort with 26 Authorized Agents working with professional purchasing organizations to assist in achieving true market value on critical, large purchases. These important results are essential in a tightening economy and provide effective cost controls and an enhanced bid process for both buyers and suppliers.
BidBridge posts an updated list of its upcoming auction events online, as well as information about the company and an event inquiry form for potential buyers. All information can be found at http://www.bidbridge.com.
BidBridge officially formed in 2007; however, the concept was initially developed between investors, procurement and government services experts in 1999. The company, headquartered in Louisville, Kentucky, provides e-procurement services to both the public and private sectors, including cities, towns, municipalities and the medical, educational and corporate sectors. Through its competitive sourcing and online procurement system, BidBridge assists its buyers in achieving true-market value for the goods and services needed for ongoing business operations. Significant cost reductions and procurement efficiencies have allowed BidBridge's buyers to save millions of tax payer, corporate and investor dollars, ultimately producing a positive effect on compressed budgets. More information on BidBridge and its services can be found at http://www.bidbridge.com or by calling (877) 245-8880.