What are the benefits for vendors?
The benefits to vendors of using MyFloridaMarketPlace include: State-of-the-art tools. (Electronic, Internet-based transacting) The system will allow vendors to provide a consistent and more efficient way of doing business with the State. Increased access to government buying entities; and enhanced economic development opportunities for small businesses and Minority and Women-owned businesses (MWBEs). Online, interactive quoting and bidding. Vendors will be able to submit electronic responses to informal quotes (quotes less than $25,000) and formal solicitations (over $25,000). Automated collection of 1% fee. Administrative burden of the existing self-reporting process will be reduced when automatic deduction of transaction fee is enabled (estimated to be mid-2005 when the States accounting system is scheduled to be replaced). An Online Transaction Fee Reporting System, available in October 2004, allows vendors to submit their required Transaction Fee Form (PUR3776) online.
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