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City of Frankfort, Kentucky Increases Vendor Responses to bids by 500% with DemandStar and Saves Thousands!
About The City of FrankFort
Frankfort is the capital city of the Commonwealth of Kentucky and the seat of Franklin County. It is a home-rule class city in Kentucky; the population was 27,679 at the time of the 2018 population estimate, making it the fifteenth most populous city in the state. Located along the Kentucky River, Frankfort is the principal city of the Frankfort, Kentucky Metropolitan Statistical Area, which includes all of Franklin and Anderson counties. As of 2018, the metropolitan population was 74,018, making it the fourth most populous metropolitan area in the state. Frankfort has an annual general fund budget of approximately $35 million.
The procurement efforts of the City of Frankfort are governed by the Frankfort Board of Commissioners. As with any agency, the commission wants and needs diversity and quantity in its supplier network. Like many cities, Frankfort publishes bids in the State Journal (Frankfort’s local paper) and on their website. Unfortunately, these methods don’t always reach the most qualified or diverse suppliers. The suppliers in Frankfort were simply not aware that the City of Frankfort needed their services.
The procurement manager at the City reached out to DemandStar for help after a recent bid failed to attract more than one submittal. Their challenge was to secure a minimum of three bids to ensure the city received the best value for its tax dollars.
DemandStar helped the City of Frankfort sign up to immediately broadcast the bid to its network of over 7500 suppliers in Kentucky and waived all costs associated with securing the bid documents. In addition, DemandStar placed geo-based advertising to relevant market segments on social media and issued a press release announcing the partnership.
The City of Frankfort received 6 bids for their first bid request, increasing bid volume by 500%. In addition, the winning bid, awarded to Eldridge Builders, saved the City an estimated 45% over the price of the original single bid the city received. An additional 104 suppliers immediately signed up to receive future bids from the City.
The Winning Contract
The City of Frankfort awarded the contract to Eldridge Builders, a local company, based in Nicholasville, Kentucky. Eldridge Builders was established in 1984 and provides building and contracting services to the Lexington/Frankfort metropolitan area and beyond.
DemandStar builds communities by connecting governments quickly and efficiently with quality suppliers. Founded in 1998, we pioneered the online marketplace concept for bidding on government contracts and now serve as the gateway for partnership between agencies and suppliers throughout the United States. For more information visit www.demandstar.com or call 206.940.0305.