The state of Michigan has awarded Austin, Texas-based Periscope Holdings a contract to implement BuySpeed eProcurement and sourcing for electronic procurement. The product may help to reduce operating costs, diminish “maverick” or off-contract spend and increase transparency in Michigan’s state spending.

“The State of Michigan views the revitalization of procurement technology as a crucial step to improving the way the state does business,” said Phil Jeffery, chief deputy director for the Michigan Department of Technology, Management and Budget. Jeffery said better data tracking is a potential result from using the eProcurement setup.

Local governments can also use Periscope’s eProcurement product. Through BuySpeed, counties, cities, school districts, universities and special districts will have access to the state’s negotiated contracts. Additionally, the state of Michigan has developed a cooperative approach in which other public procurement entities across the country can purchase off of the Michigan contract.

In addition, local entities can use the state’s eProcurement system to manage their local procurement processes. Michigan is offering its eProcurement software investment to local governments and political subdivisions in an effort to help alleviate budget shortfalls and reduce costs across the state.

“In these economic times, state and local governments are under increased scrutiny as they spend taxpayer dollars,” says Periscope’s President and CEO, Brian Utley. “BuySpeed offers a solution that increases transparency, improves the procurement process and saves money.”

Jeff Brownlee, Michigan’s chief procurement officer, summed up the reasoning behind the award. “Michigan must be able to capture procurement data, translate data into actionable strategy, identify contract gaps and discover opportunities for savings through strategic sourcing. The BuySpeed solution proposed by Periscope in response to our RFP offered the most comprehensive, intuitive, and proven tool for the job.”

As the prime vendor, Periscope is partnering with Detroit-based Compuware, Inc. on the implementation of the BuySpeed product.

Periscope Holdings is a privately held technology company. The firm works with public entities to achieve best practices in procurement through its software solution BuySpeed and consulting services.

More than 100,000 users rely on the firm’s products in the U.S. and Canada. BuySpeed customers include the states of Arizona, Maryland and New Jersey; the cities of Fort Lauderdale, Fla., Baltimore, New Orleans and Tucson, Ariz; several counties, as well as the Virginia Beach Public Schools, Alaska Department of Transportation and the Chicago Housing Authority.

The company holds the exclusive license to maintain, enhance and market the NIGP Commodity/Services Code on behalf of the National Institute of Governmental Purchasing.