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TIS: Slovakia saved €30 million thanks to electronic auctions

Electronic auctions can increase the number of competitive bids and save up to 15 percent of the expenses, according to experts from Transparency International Slovensko (TIS). According to a TIS survey published on its website on Wednesday, September 28, if electronic auctions were used in one third of all procurements in Slovakia, they would achieve savings of €250 million a year.

Electronic auctions can increase the number of competitive bids and save up to 15 percent of the expenses, according to experts from Transparency International Slovensko (TIS). According to a TIS survey published on its website on Wednesday, September 28, if electronic auctions were used in one third of all procurements in Slovakia, they would achieve savings of €250 million a year.

TIS experts point out that e-auctions have seen a boom since the general election in 2010, comparing the recent period to 2008-2009, when e-auctions represented less than 1 percent of purchases. Even though the results are still preliminary, they already indicate that the introduction of compulsory electronic auctions was a good step for public finances, TIS said, as quoted by the TASR newswire. TIS’ rough estimate of the amount saved so far is €30 million.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
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