GENERATE MORE DISCOUNTS BY SUBJECTING SUPPLIERS TO A REVERSE AUCTION
A Reverse Auction is where we seek to generate more discounts by subjecting suppliers to a reverse auction. The suppliers bid against each other in a live online auction to decrease their prices. An eAuction will help you save more money by strengthening your negotiation position and increasing competition between suppliers. As a result, an eAuction can produce 10-15% more savings over and above the RFQ or tender.