Forward Auctions

Take advantage of forward auction strategies to boost profit margins and value delivery.

Simplify eAuction Experience with Procol

When it comes to selling, companies look out for unbeatable prices for their goods/services. The forward auction mechanism involves competitive bidding from potential buyers from the initial minimum acceptable bids to the highest possible price. Unlike reverse auctions, the forward auction system involves a single seller entertaining incremental bids till no buyer is left to bid. Procol’s advanced capabilities for online forward auctions are designed to help companies drive greater strategic benefits and facilitate significant cost savings.

Procol’s Robust Solution Suite for Forward Auctions

eRFX

Save invaluable time and money with Procol’s eRFX solution with enriched features. Start getting more pricing options while keeping a check on travel costs.

eAuction Desk

With our best-in-class auction desk, placing a bid or live auctioning has never been easier. Procol’s custom-built auction engine helps you maximize savings.

Supplier Management

Bid adieu to age-old supplier management practices and get started with Procol’s intuitive solution with multiple unique bidding algorithms that boost supplier engagement.

Spend Analytics

Ensuring optimized spends across different categories with Procol. Fast-track reporting with custom reports along with vendor performance analytics.

Key Features

Flexible Customisations

Integration with third-party ERP systems

Multi-channel supplier communication via Email and SMS/WhatsApp,

Automate sales order generation post-auction

Conduct comparative analysis of online forward auction events

Strategically plan/schedule your upcoming events

Dynamic event extension

Run multiple eAuctions in real-time

India’s leading mobile-friendly solution

Get Free Demo

Why Procol for Forward Auctions?

Procol’s solutions help you across the procurement cycle - right from sourcing to contract. In doing so, our intelligent procurement software can easily tackle all the legacy problems and ensure that no roadblocks come uninvited.

Maximise Profit Margins

Procol’s intuitive dashboard helps create a dynamic, competitive bidding environment to help the seller get the best possible market price.

Real-time eAuction Dashboard

Stay updated of event negotiations by managing supplier communication, bids, and negotiations at a single, centralised dashboard.

Better Supplier Relationships

Get real-time visibility of live auction events and ensure an unbiased level playing field by leveraging multiple auction strategies.

Quicker Sourcing Cycle

Conduct multiple eAuction events using prebuilt templates simultaneously while creating a seamless and transparent experience for both buyers and suppliers.