Reverse Auctions

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

Boost Your Bottom Line with Reverse Auctions

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

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

Implement 30+ auction strategies

Flexible customisations

Integration with third-party ERP systems

Multi-channel supplier communication via Email and SMS/WhatsApp

India’s leading mobile-friendly solution

In-built analytic capabilities

Intuitive event creation and bid interfaces

Extensive audit trails for each event

Simplified purchase order (PO) generation

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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.

Boost Savings

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

Real-time Analytics Dashboard

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

Better Supplier Relationships

Improve supplier competition and participation by creating an unbiased level playing field and 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.