Avaali - Auction

What is Reverse Auction

A reverse auction is a strategic sourcing event in which suppliers bid to provide products and services which helps buyer in effective price discovery, gaining in-depth supplier market knowledge and driving price reductions.

Avaali’s Reverse Auction module allows enterprises to create, conduct and deliver reports for closed auctions and in turn automatically initiate the supplier onboarding processes for chosen vendors. Reverse auctions significantly bring down procurement cost for companies as bid prices are continuously brought down during live auctions, where vendors have visibility of where their ranking is against submitted prices.

Why Auction as a Service

Enterprises are conscious of the investments they make in technology and would like to maximize returns from their investments. For enterprises who are clear about the number of auctions they would typically initiate in a year and if it is less than 360 auctions a year (30 or less auctions every month) they would significantly benefit from this offering wherein the solution is provisioned as a software as a service offering entailing limited investments from them.

Auction as a Service is a subscription based, plug and play solution for you to conduct your auctions easily and benefit by reducing your procurement cost.

Solution Features

Supplier Registration

Reverse auction solution helps buyers easily qualify and invite suppliers to take part in the auction and increase competitiveness of the event.

Auction Creation

Buyer can run multiple schedule auctions by setting up rules, qualifying and adding participants, uploading auction documents etc.

Auction Publishing

Easily check, review, publish auctions and send automated notifications to suppliers.

Auction Participation

Suppliers can easily track upcoming auctions, participate in live auctions, bid for selected items, download bid history details and see the auction results through the portal.

Auction Evaluation

The solution facilitates enhanced visibility into the auction, providing evaluation list with bidding details etc. The buyer can shortlist suppliers and add recommendation comments, upload attachments etc.

Dashboard

With comprehensive reports and dashboards, track and monitor pending/published auctions, view auctions pending for evaluation, details on awarded auctions etc.

Low procurement costs

Benefit by reducing your procurement cost by a factor of at least 10-15% as a result of getting the best prices during an auction event.

Faster Bidding Process

Complete your biddings faster and negotiate the best value in a shorter period of time unlike an RFx which can go on for weeks.

Greater Transparency

Bring transparency to your process and your suppliers through e-auctions and allow businesses to compete on a level field, decide on the bidder to go forward with announce contract awardee.

Enhanced Control

Easily invite qualified suppliers and monitor the auction event seamlessly and gain greater control on the auction process with numerous advanced features.

For more pricing options refer packages page