Purchasing Auctions is a simple to use reverse auctions tool that gives buyers and suppliers access to expanded and competitive business opportunities. Buyers are able to gain best value from an expanded range of suppliers in an open and competitive manner, whilst suppliers gain access to new customers and contracts of significant value.
Purchasing Auctions made a conscious decision to concentrate purely on the hosting of the reverse auction event itself. Throughout development the ultimate aim has been to keep the reverse auction process as simple and intuitive as possible, thus permitting it to be managed by the purchaser. This in turn makes it less expensive to use and more accessible as an everyday procurement tool that saves time and money.
#1 by Jonathan Rollason on February 3, 2010 - 3:06 pm
I think reverse auctions are still in there infancy. Best in class companies seem to be putting about 15% of their spend through reverse auctions and typically achieve 20% more savings than over the conventional tendering route.