REVERSE AUCTION

Our system automatically scans for errors such as incomplete bids, duplicated vendor profiles, and other common errors.

  • Reverse Auction Solution
  • low bid
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  • auction expiring
+ 1 AUCTIONS COMPLETED

Asset-14Increase.png Increase Competition

Dynamic pricing environments are a great way to ramp up competition. Real-time updates help suppliers stay competitive in the auction. 

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The quick creation process makes it incredibly easy to setup a reverse auction event allowing you to focus on strategic sourcing initiatives. 

Asset-9Competition-.png Reduce Costs

As bidders actively submit new low bids it continues to drive the overall cost down. These constant price decreases means your savings add up. 

EASY AUCTION CREATION

The Reverse Auction module provides a dynamic pricing environment where suppliers compete for business in real time. Easy-to-use event creation and management tools offer one of the industry’s only “do-it-yourself” auction platforms.

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  • auction settings
  • reverse auction bids
  • Auction audit log

CONTROL YOUR INFORMATION

During the event, a variety of current pricing and competitive information can be displayed to participating suppliers encouraging competition.  Based on your auction strategies, suppliers can be presented with current low pricing information or simply informed if they are the current low (aka “best”) bidder.  Also available are auction preview, reserve pricing display options, bid decrement rules, and automatic auction extension functions that accommodate a variety of sourcing strategies.

real-time Graphing

 Procurement professionals monitor supplier activity in real-time, watching as suppliers compete and update their pricing throughout the event.  A dynamic graph is displayed, revealing the event’s bidding activity.

  • auction graph legend
  • reverse auction software

Solution Overview

Powerful Together and Separately

Choose from our suite of products to build the perfect sourcing solution for your team. 

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Ready to
get started?

If you are ready to join procurement teams across the nation in making more strategic sourcing decisions then you are in the right place.

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  • Asset-174Blue-circle.png
  • Asset-171Blue-S.png
  • Asset-172Blue-M.png
  • Asset-173Blue-L.png
  • Asset-16Customer.png
  • Asset-11Customer.png
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Ready to
get started?

If you are ready to join procurement teams across the nation in making more strategic sourcing decisions then you are in the right place.

  • Asset-15Customer.png
  • Asset-10Customer.png
  • Asset-12Customer.png

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