Impact Your Results With Competition
Reverse Auctions
In a reverse auction several sellers offer their items for bidding, and compete for the price a buyer will accept. The buyer has the option to accept any bid or reject all. The level of competition created in a live reverse auction generates greater savings opportunities than conventional contract negotiations.
Buyers are provided real-time visibility of bids and access to immediate analysis of results. Our technology maximizes your opportunities to get the right combination of price and quantity while showing the supplier’s competitive capacity.
Because the auction occurs online, any supplier with access to an internet browser can be an approved participant in the event.