Maximize Savings with eAuctions

Drive competition among suppliers in real time to reach best price in shortest amount of time

Why Procurement Teams Choose eAuctions

Save
time

Real time bidding, faster supplier communication, and evaluations reduces negotiation cycles from weeks to hours

Save
money

Increase competition among suppliers under time pressure to unlock the most competitive, market-aligned rates

Build Transparency

Create a clear, auditable trail of every bid, rank, and supplier interaction – improving fairness and trust in the process

Standardize Processes

Apply consistent auction formats, rules, and evaluation criteria across sourcing events to ensure repeatable success

Sourcing Acumen eAuction platform has promising capabilities

Minimum bid reduction

Ensure meaningful competition by setting a minimum decrement suppliers must meet with each new bid.

Supplier Rank & Lowest Bid

Give suppliers visibility into their rank or the current lowest bid to encourage active participation and sharper pricing.

Automatic deadline extension

Prevent last-second bid sniping by auto-extending the auction deadline when a new bid is placed near closing time.

Transparent bidding rules & Award criteria

Establish clear, upfront rules and evaluation logic to build trust and drive fair competition among suppliers.

Pre-qualify suppliers

Limit participation to vetted suppliers based on capabilities, compliance, or RFI responses to ensure quality outcomes.

Pre-bid

Enable suppliers to submit pre-bid to save time.

360 degree collaboration

Collaborate with your internal stakeholders to provide real-time visibility.

Sourcing Acumen support advanced eAuctions

Multi-currency eAuctions

Suppliers can bid in their preferred currency, while the platform automatically normalizes all bids to a base currency for accurate ranking and comparison.

Cost transparency

Collect detailed cost breakdowns from suppliers e.g. raw materials, freight, and packaging – while still driving competition on total landed cost.

Qualitative factors

Capture non-price inputs like supplier capacity, minimum order quantities (MOQs), or lead times, and incorporate them into ranking and award decisions for a more balanced evaluation.