GSA adds FreeBalance

The General Services Administration has awarded a spot on its schedule contract to FreeBalance Inc. for the company's eGrants and eFinancials products.

EGrants automates the awarding of government contracts, monitors financial transactions for the duration of the contract and analyzes the attainment of program goals. It is the first FreeBalance product to use peer-to-peer technology.

The GSA schedule contract will last from Aug. 23, 2001, through Aug. 22, 2006, with options to extend for three consecutive five-year periods. The contract was announced Sept. 26.

FreeBalance has an extensive list of government customers, including the departments of Defense, Education, State and Transportation and the states of California and New York.

Bruce Lazenby, FreeBalance's president and chief executive officer, said the GSA contract was "significant" as the company attempts to build "even stronger ties with our current and future government partners through this vehicle."

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