The General Services Administration (GSA) decided to extend its Transaction Data Reporting (TDR) pilot through fiscal year 2020, a program GSA has said saves the government millions, according to a recent news release.

The TDR rule allowed GSA to remove “complex and burdensome” tracking and disclosure requirements mandated on contractors, in addition to asking contractors to electronically report specific procurement data, like prices paid, quantity and product description. The rule requires monthly reporting of transaction sales data from governmentwide contracts, which the GSA wrote increases transparency. GSA estimated when it made the initial announcement about the new rule in 2016 that it would save the government around $29 million a year.

“This rule also supports the government’s shift towards category management by centrally collecting and analyzing information on what federal agencies are buying and how much they are paying,” the GSA wrote in 2016. “This new transparency helps the government leverage its vast buying power and drives competition.”

Keep reading this article at: https://www.federaltimes.com/acquisition/gsa/2019/08/19/gsa-extends-a-pilot-to-save-the-government-millions/