ART - Reverse Auctions - Lower Costs of Employee Benefits 2012

The document discusses the use of reverse auctions in Maricopa County for procuring services and reducing costs. The county's procurement director, Bauer, emphasizes the importance of verifying the resources and financial stability of winning bidders before awarding contracts. The reverse auctions have attracted solid, nationally based firms such as ING, Hartford, and Prudential. Bauer suggests that reverse auctions can be used for various types of services, not just commodities. The document also mentions the potential for using reverse auctions in construction procurement. Overall, the use of reverse auctions has helped reduce costs and increase benefits for county employees.