Thursday, May 1 2008

With its e-auction facility, the Water and Sewerage Authority (WASA) is aiming for greater transparency and accountability in its bidding operations.

The company said it is all part of the company’s attempt to apply “Best Practice” in several areas of the organisation, as well as in its pursuit to benchmark its systems, processes and procedures.

E-Auction, simply put, is an invitation from buyer organisations on-line that allows multiple sellers and dealers to quote for the goods or services required. It is done through a facilitator who provides strategic sourcing software services, develops sourcing strategies, posts requests for quotes analysis and provides automated services that include updates, reports, risk management and monitor contractor performance, among other things.

They key benefits to be derived from E-Auction include on-line bidding in a competitive market both locally and internationally, greater efficiency in obtaining goods or services, quick and easy access of information with improved availability, facilitates real-time decision making and problem solving based upon accurate information and a higher level of confidentiality.

Mariano Browne, Minister in the Ministry of Finance, along with Permanent Secretary, Bernard Sylvester, got a first hand look at the company’s E-Auction Event, which was held at the Education Centre, Farm Road, St Joseph.

Minister Brown, in his address stated that he was pleased to be part of a pioneering activity by a public sector organisation and said that his presence indicated the Government’s commitment to the process. Errol Grimes, Chief Executive Officer thanked the Minister for joining WASA at the event and highlighted the benefits to be derived from E-Auction.