Our portal offers to the users the sophisticated tool for the procurement of goods or services faster and more transparently. For the contracting entity (buyer) it is a flexible option for obtaining the required items through the most advantageous bid and, on the other hand, it offers to the participant (supplier) in electronic auction the possibility to submit the most advantageous bids, and thus become the supplier in a specific electronic auction (bid).
As long as the buyer has a pool of qualified suppliers that are willing to participate in a reverse auction, the price disclosure will probably drive the price lower. In a reverse auction, it is the power of the market and competitive bidding, not the buyer bullying the vendor that drives the pricing lower. Suppliers then respond to these market price signals and adjust their pricing lower accordingly.
Buyers increasingly view reverse auctions as “a time-saving tool” that helps them to focus on more value-added functions in their jobs that handling bids, paperwork, and routine communications. Indeed, one of the principal differences – and advantages – of reverse auctions over other procurement and negotiation methods is time.
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