Reverse Auctions

Deploy reverse auction strategies to maximise savings and innovate procurement operations.

Boost Your Bottom Line with Reverse Auctions

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Eliminate error-prone manual negotiations with Procol’s intelligent e-reverse auctions tool. Implementing reverse auction strategies helps companies drive the pricing down while maintaining a healthy competitive environment between suppliers. Unlike traditional auctions, where prices increase, in reverse auctions, suppliers compete by lowering their prices to win the final contract. With a proper reverse auction platform, procurement teams can make the most out of their sourcing process and boost cost savings.

Procol’s Feature-Rich Solution Suite for Reverse 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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    Implement 30+ auction strategies

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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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    India’s leading mobile-friendly solution

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    In-built analytic capabilities

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    Intuitive event creation and bid interfaces

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    Extensive audit trails for each event

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    Simplified purchase order (PO) generation

  • Why Procol for Reverse 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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    Boost Savings

    Optimise cost savings by creating a dynamic, competitive bidding environment which helps in driving down the bids and compress prices.
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    Real-time Analytics Dashboard

    Stay on top of event negotiations and important business decisions with real-time data and in-depth analysis.
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    Better Supplier Relationships

    Improve supplier competition and participation by creating an unbiased level playing field and 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
    • hershey logo

    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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