What is one benefit of using piggybacking in procurement?

Using piggybacking in procurement provides significant advantages, and one of the key benefits is access to pre-negotiated pricing. This practice allows an organization to leverage an existing contract that another entity has already negotiated, enabling them to obtain goods or services at a price that has already been established. This can lead to cost savings for the organization, as it bypasses the need for an extensive negotiation process and time-consuming bidding procedures.

By utilizing the pricing and terms determined from a previous procurement, an entity can efficiently procure supplies or services while ensuring that they are receiving a fair and competitive rate. This approach not only streamlines the procurement process but also fosters efficiency, allowing organizations to focus their resources on other essential tasks rather than reinventing the wheel by negotiating contracts independently.