Reverse Auctions are widely considered to be the most efficient negotiating tool for maximizing savings and creating value, it allows Buyers to discover market competitive pricing for raw material, capital goods or services.
Our eSourcing platform provides simple and easy to manage eAuction tool which connects buyers and suppliers with ease. It is the easiest cloud based auction platform available in the market, simple user interface encourages real-time competitive bidding among supplier.
The sourcing tool does not restrict itself to the local market but with multi currency and languages capabilities cut’s down negotiation cycle time thus , Buyers can have a better control over there spend without damaging supplier relations.
eSupplier makes it effortless and user-friendly for Buyers to create auction events, at the same time suppliers find easy to bid, higher engagement results in maximum savings. Buyers can select various auction features based on product category.
Convert multiple round negotiations to single auction. Observe how suppliers drop their price in real time shorting your sourcing cycle time by weeks to hour to achieve best market rates.
Auctions are undoubtedly a cost effective tool to increase competitive pressure on suppliers thus reducing your sourcing spends providing you better control.
It serves as a Spend Tracker providing intelligent visual metrics, reports and key performance indicators (KPIs) to Buyers allowing them to take smart sourcing or Buying decisions faster.
Online Auction allows real time negotiation 24/7 with large pool of suppliers based in different locations and time zones, currencies which is difficult to achieve via traditional negotiations.
Better collaborate with your suppliers with multi-currency and Multilingual capabilities. Enterprise solution for faster buying decisions providing various negotiating options like Reverse Auction, Forward Auction, Dutch Auction and Multi Currency Auction.
Buyers create independent open fixed price reverse eAuction for single item or lot. You set a fixed start price & decrement value, invite suppliers to bid against each other where L1 price is visible to all thus creating open competition while suppliers names are not disclosed. It is ideal for items which are branded or you want to award complete order to a single supplier.
Fully flexible type of reverse eAuction for single or multiple items to be simultaneously bided. You can select from open price bidding or L1/L2/L3 type bidding option. In open price suppliers can bid first start price at their own. Ideal for competitive bidding among suppliers for raw materials or market commodity items.
The Buyer raises the price from a low starting point until a supplier agrees to sell at a stated price as displayed on the screen, there is no supplier counter bidding. If the supplier feels he can execute the order by clicking on “accept bid price” button to end the eAuction. Ideal for items were there is a huge price gap between supplier quotes, good for high value Capex items.
This type of reverse eAuction works well on items which has fixed list price issued by manufacturers and multiple suppliers compete by offering maximum discount against each other. This type of eAuction is ideal for items like Bearings, Tools, Consumer Electronics, etc… can be used before entering into Annual rate contract.
Fully user configurable Forward eAuction for single or multiple line items, eAuction can be conducted in open price or H1/H2/H3 type options. This eAuction is widely used for selling excess scrap or excess inventory to dealers & distributors.