New Government Purchasing Trend: Know Your Price

According to Forrester’s Jennifer Belissent, PH.D blog, “To name your price is to know your price”. She pointed out that due to data sharing, you are now able to learn what to expect to pay for a product/service, even if you’ve had no experience purchasing it before.

Data sharing now enables you to know what to pay. Jennifer cites such examples of the $600 toilet seat or $400 hammer that government has paid, or not– learn if this is an urban legend, misrepresentation, or if there is truth to it by easily searching thru government purchase orders found in the database of government contracts.

Jennifer also provides examples on how data sharing can allow you to be a better purchaser. In one of her examples, she uses the SmartProcure tool to provide evidence on misguided spending, citing, “Last fall, Contra Costa County, California paid $530 for an HP Laserjet M451DN printer that the City of Austin purchased the same week for only $395.” A perfect example of how data sharing can change government purchasing.

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