You are 5 minutes away from cost cutting!

What you get using Reverse Auctions:

Significant lower prices (usually between 5 to 10%)
Save time: negotiate with all suppliers in the same time
Discover the real market price
Identify new suppliers

With Prokuria reverse auction module you are able to customize:

  • mimum step of the auction
  • cool-down period
  • maximum price
  • start and end date of the auction

What Is A Reverse Auction?

A reverse auction is a type of auction in which the roles of buyer and seller are reversed. In an ordinary auction (also known as a ‘forward auction’), buyers compete to obtain goods or services by offering increasingly higher prices. In a reverse auction, the sellers compete to obtain business from the buyer and prices will typically decrease as the sellers underbid each other.
It enables suppliers to compete on-line in real time and is changing the way firms select and behave with their suppliers.

When To Use?

The most common application of reverse auctions in e-procurement is for ‘tactical’ products or services with relatively uncomplicated requirements, without long future continuity of supply. However it can be applied to anything as long as you have competitors.
It improves effectiveness of the sourcing process and facilitate access to new suppliers. This may in the future lead to a standardization of sourcing procedures, reduced order cycle, which can enable businesses to reduce prices and generally provide a higher level of service.

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