Forward Auctions

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

Simplify eAuction Experience with Procol

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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

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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.

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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.

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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.

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Spend Analytics

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

Key Features

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    Flexible Customisations

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    Integration with third-party ERP systems

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

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    Automate sales order generation post-auction

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    Conduct comparative analysis of online forward auction events

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    Strategically plan/schedule your upcoming events

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    Dynamic event extension

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    Run multiple eAuctions in real-time

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    India’s leading mobile-friendly solution

  • 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.

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    Maximise Profit Margins

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

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

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

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

    Move away from traditional in-person negotiations and manual overheads by leveraging automated bidding systems with all intricate event details.

    Trusted by the largest organisations in India

    • cremica  logo
    • vkl  logo
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    Insights from Procol

    forbes

    “Helps companies make purchases from suppliers who bid for their business in a live online platform”

    — Forbes 30 Under 30 Asia
    business

    “The startup helps food retailers procure inventory online, has clients such as Bikanervala and Big Bazaar.”

    — Yuvraj Malik
    cpo

    “A single platform for sourcing, collaboration, commodity insights; helps businesses save cost and time”

    — Editorial Desk

    Procol can revolutionize procurements for you.

    Connect with an expert who can share more about our solutions and answer any questions you have.

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