Price Check & Know What a Product Costs

Before you start analyzing proposals and quotes you’ve received per your request you want to know how much an item or service should cost, so you can be sure you get a good deal for your agency. You can also use this preliminary research when creating your RFP so that you publish it with the best information for vendors.

Using the GovSpend application start by doing a search for a particular product or service that your agency needs. Let’s use for an example a printer. You’ll do a “Find Items” search, add any additional keywords, such as brand or type. Exclude keywords to prevent unnecessary noise in your results, and finally, add a general “unit price” range.

If a printer should normally cost around $400.00 then add a range of $100.00 to $600.00. This will show you how many purchases of printers have actually happened at that price range. Now you can check for sure if what you want to pay for a product or service is the appropriate amount, not just a number you made up in your head.

You can use this information to negotiate a better rate or even find another vendor that you didn’t know existed. Most agencies only need a few quotes or proposals for compliance regulations when purchasing anything for their agency. So if you do a quick search in the database, you might find another vendor that you don’t have a quote or proposal for, but maybe they have a better price or a more reliable recommendation because you can see which agency is currently using them and ask for a review.

That’s a lot of potential in one application and this is just one of the features that makes it so beneficial to both agencies and vendors working in the public sector.

To schedule a personalized demo of how you can use data and bids in GovSpend to win more business

Click Here

To learn more about GovSpend, click here.