Improving Public Procurement & The Acquisition of Commercial Items
Price Point Buyer helps ensure prices paid are always fair and reasonable
Improve Procurement Efficiency, Comply with Acquisition Policy, and Ensure Fair Prices with Price Point® Buyer
The Federal government spends hundreds of billions of dollars annually buying commercial catalog items from manufacturers, distributors, and increasingly from e-commerce platforms. Public Sector Buyers must perform a price analysis to determine whether prices are fair and reasonable. Fair and Reasonable price determinations are performed by comparing the offered price with information from other suppliers, historical prices paid, catalog pricing, etc. This can be a complex, time-consuming and error-prone task.
Price Point is a pricing decision support tool for public sector procurement. Price Point uses AI to standardize and analyze catalog and prices-paid data, as well as technical, environmental, and socioeconomic data for tens-of-millions of COTS parts.
Price Point answers these common procurement questions to support Federal government acquisition requirements
- Is this a fair and reasonable price for this item? If not, what is the “right” price?
- Is this item available under an existing contract?
- If so, who is the lowest priced supplier?
- Is it available from a preferred vendor?
- Does the item comply with other procurement mandates?
- Green, AbilityOne, Socio-economic, etc.
Actionable price benchmarking reports flag over-priced items to simplify negotiation and provide contract file documentation support.
Price Benchmarking
Price Benchmarking
Benchmark your supplier pricing data to negotiate better prices or demonstrate the competitiveness of your contracts
Strategic Sourcing
Strategic Sourcing
Optimize pricing for virtually all your catalog spend. Using AI and automated analysis, there is no longer a reason to source catalog-based categories using “market baskets” which represent a limited percentage of spend in each category.
Compliance
Compliance
Ensure compliance with environmental and regulatory statutes or identify suppliers who meet specific socio-economic criteria to help achieve your organization’s sourcing goals.
The Results
The U.S. General Services Administration used Price Point’s price benchmarking data to re-negotiate prices for millions of catalog items with an average reduction of 12% for high volume items. This reduction in item pricing translated into tens-of-millions of dollars in savings for GSA’s customers. Mr. Houston Taylor, GSA Regional Commissioner, Federal Acquisition Service, referred to Price Point as a ‘substantial force multiplier’ in his 2012 Procurement Information Notice (PIN) 2013-02 which provided guidance to contracting officers on the use of the XSB’s Price Point tool when evaluating Federal Supply Schedule (FSS) offers and modification requests.