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Reverse Auctions
for big impact

Maximize savings and streamline supplier selection with Prrokuria's advanced tools for reverse auctions.

5-10% is the average saving delivered by a reverse auction with Prokuria

See how a reverse auction works in Prokuria in 30 minutes

Trusted globally by sourcing specialists

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British Reverse Auction

Multiple Factor Auction (MFA) 

Message
Center

Dutch
Auctions

Supplier Engagement Monitor

Audit
Logs

Dynamic
Allocations

Set-up for competition

Fast & Easy for Suppliers

British Reverse Auction

  • Run Reverse auctions effortless with an intuitive & reliable platform for you and your suppliers

  • Ensure a fair and competitive environment for your suppliers getting them bid the lowest price in the market

  • Lowest bid - Reveal the lowest bid to your suppliers while ensuring maximum competition and transparency

  • Ranking - Suppliers can see how they rank against other suppliers and make alterations to their bids accordingly

  • Auto Start - Auction automatically starts when time reaches planned date of start

  • List price - You can set a list price for each item. Bids over the listed prices will be marked red on suppliers' screens and they're not allowed to submit their bids until it fits into what you've agreed upon in advance

  • Item delivery date - Allow suppliers to specify a delivery date for each item while bidding allows you to also compare the delivery dates while choosing your suppliers

  • Bid Increase Limit - Prevent your suppliers from raising their bid on you by disabling the "bid increase limit". If they go over this amount, it's game over for them!  

  • Cool-down period – choose how long to automatically extend the auction if the best bidder changes in the last few minutes

  • Real-time and post-event reports for comprehensive bid analysis

  • Create custom data input fields for gathering additional information along with the basic bid

British Reverse Auction
 

Dutch Auction

  • Optimizes up-front savings by taking the first open bid from suppliers

  • Decrease procurement lead-time and increase process transparency by auctioning off the whole tender in a single item

  • Efficient comparison of multiple supplier proposals

  • Easy setup of the starting price and the maximum price you are willing to pay

  • Setup minimum step for suppliers and step time - the difference between two successive quotations from the same supplier

  • Lowest bid - Choose whether or not to reveal the lowest bid to your suppliers

  • Ranking - You can enable suppliers to see how they rank against other suppliers and make alterations to their bids accordingly

  • Auto Start – Dutch auction starts automatically after the time reaches the planned date of start

  • List Price – In this feature, you can set a list price for each item. Bids over the listed prices will be marked red on suppliers' screens and they're not allowed to submit their bids until it fits into what you've agreed upon in advance

  • Item Delivery Date – Allow suppliers to specify a delivery date for each item while bidding allowing you to compare also the delivery date while choosing your supplier

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Dynamic Allocations

  • Real-time allocation of the auctioned quantity based on algorithms you set up for maximum competitiveness

  • Trigger-based dynamic allocation enables you to set up response rules when certain conditions are met, such as when opponents outbid each other

  • Bidding Competition - Dynamic allocation to increase competitive spirit during the auction phase

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Multiple Factor Auction (MFA)

  • Run auctions that take into account multiple parameters, and not the price alone

  • Identify the best bid with a multi-attribute auction approach

Multiple Factor Auction
 

Supplier Engagement Monitor

  • Tracks suppliers' performance and engagement in real-time against key requirements

  • Promotes proactive supplier management by identifying potential supplier issues before they turn into problems

  • Get insight into supplier engagement activities ranked by category and supplier type

  • Strengthen your relationships with suppliers by establishing open lines of communication

  • Map your global suppliers and create customized supplier engagement plans

  • Supports your efforts for operational excellence through improved supplier relations

Supplier Engagement Monitor in eAuction
 

Set-up For Competition

  • Multiple settings available: show or hide rank and best bid. Bid at item level or at the total price

  • Lowest bid - Reveal the lowest bid to your suppliers while ensuring maximum competition and transparency

  • Ranking - Suppliers can see how they rank against other suppliers and make alterations to their bids accordingly

  • Bid at item level - Suppliers can bid on each item individually to get the total price they are bidding for

  • Bid at a total price - A supplier is able to enter their best overall price meant for all items in the auction   

Set-up for competition
 

Message Center

  • Easy & real-time messaging with suppliers with instant messaging tools integrated into the software

  • Improve quotation processes - faster responses from suppliers

  • Easy tracking of response status - maintain a record of responses history in one place

  • Instant document sharing - attach and share documents with suppliers to facilitate early supplier involvement in projects

  • Unread messages indicator - don't miss out on important communication

  • Send messages to multiple suppliers with the Bulk Messaging capability

  • Eliminate never-ending email chains

  • Accessible anytime from anywhere there is an internet connection

Message Center in eAuction
 

Audit Logs

  • Give you real-time visibility over all transactions and access to information.

  • Be always in control. Find out who did what, when, and where

  • Track down any errors that may have been made and correct them, before it is too late

  • Comply with the legal requirements, such as audits and compliance

  • Reduce risks of errors, frauds, security breaches and manage incidents

  • Be sure that the information is available when needed

  • Save time and costs associated with audits, ensuring compliance to regulations or industry standards

  • Detect suspicious behavior and monitor access to important data or transactions

Audit Log in eAuction
 

Fast & Easy For Suppliers

  • Save time with a private secured webpage, where they can reply promptly

  • Improve the quality of your service by identifying suppliers’ best practices

  • Streamline communication throughout the use of message center and smart notifications

  • Fast, easy, and less expensive communication with suppliers

  • Easy to read, understand and reply to messages in their inbox

  • The use of smart notifications will minimize wasted time finding important information or following up

  • No need for unnecessary account set-up and passwords 

  • No need for them to change their business processes and procedures 

  • No training is needed for your suppliers to use the webpage

  • Improves supplier performance by enabling them to receive all information in one place

  • Suppliers can easily share PDF, PNG, Doc, XLS, or any kind of file with you

Supplier Portal for eAuction
 

 eAuctions are the most underestimated tools 
in procurement departments

"We were looking for an easy tool to start running auctions with suppliers when we discovered Prokuria. In the first month we delivered 5 to 10% savings on 2 main categories."

Thomas Smith
Procurement Manager, 
OKD Manufacturing 

 

Scale Sourcing & Deliver Savings

See how Prokuria makes running reverse auctions a breeze. As a result, you shorten the negotiations, streamline supplier selection, and maximize savings.

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