October 1, 2022

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How to select a good e-Auctions platform?

4 min read
e-auctions platform

As technology is rapidly evolving, the professionals of procurement have access to a variety of bargaining methods. One such strategy includes efficiently bargaining with multiple suppliers at the same time which is known as a reverse auction.

This has somehow made e-auction platform a necessary component of the procurement organisation. Having an appropriate digitization strategy can help in optimizing the process, improve the decision quality and also expedite the cost-cutting strategies. Therefore, an e-auction tool can be the first step in digitising the procurement landscape. For significant acquisitions, many big organizations are turning to reverse e-auctions. However, the question that remains constant is how to choose the right type of e-auction platform.

Tips to choose the right e-auction platform!!

The following will help you to discover a few tips that will guide you to choose the best e-auction tool. So without any further adieu keep reading until the end to gather relevant information.

Usability

The very first thing that you need to consider in an e-auction software is its usability. An online auction platform must be simple enough to use so that you do not feel annoyed while navigating through the interface.

This is simply because you do not want to waste your time learning how to use a platform that your competitors are already on. Other than that, It should be able to deliver a great experience and have an easy content management system to handle.

Data security

The next thing you must look for in an e-auction software is if the platform is completely safe to use or not. This is probably because you would not want to lose control over the relevant data.

Thus, make sure that the platform of the online auction you are choosing offers cloud computing services so that your data can stay secure. Most of the users choose Procurengine for their future platform because it gives multi-factor authentication as well as an inbuilt firewall for protection.

Add media

Adding media to your auction platform is crucial if you want your e-auction to be a success. Thus, Your e-auction platform should come with the feature where you are given the access to add media like pictures and videos in high resolution.

Adaptive interface

It is crucial to understand that every person would have a different requirement to look into. This is why make sure to choose an online auction platform that caters to the diverse needs of the clients and adapts to every device so that digital awareness can be obtained. The platform should be able to maintain all the system functionalities while remaining reliable regardless of scaling up or down.

Multiple options to conduct auctions

As every organization is different and every supplier is different – there are different sorts of eAuction offered for various case scenarios. It is critical to strategize Auctions to get the most out of the Reverse Auction endeavour.

Therefore, to be precise, a few popular types of online reverse auctions include English auctions, weighted bid auctions, Dutch auctions, etc. The Reverse Auction Service Provider should assist you in building the most appropriate Auction strategy based on the circumstances, materials, and previous experiences with the suppliers.

 Customer support team

When there is no active engagement from suppliers, it would cause reverse auction projects to fall short. As a result, it is important to choose a platform that will assist the buyers and suppliers while conducting e-auctions.

Buyers would need to be trained in different types of auctions so that they can organize their discussions. They must understand how to administer and change the rules of the auction. Suppliers, on the other hand, would require platform training.

For example, how to bid, calculate, and determine your rank. As a result, there will be no uncertainty or guesswork when performing the live auction. Hence, the platform must have a very efficient customer support crew capable of conducting successful auction training if needed.

Able to offer insight reports

The platform you are choosing for e-auction, make sure that it has the feature of providing auction insight reports.

This is simply because insight reports are very important for planning future auction events. These reports would consist of information on the total savings and reveal details about the Supplier Bidding Pattern. Also, all this data will help to simplify the process of developing the most effective approach for holding auctions.

 Offer live auction features

As technology has become fast-paced, everyone looks for something that offers quick and easy features just by making several clicks on the mobile phone.

On the other hand, when choosing an online auction platform, make sure that it offers the functionality of a live auction. This would add convenience and also allow you to contact auctions in real time.

Time to pick the best e-auction tool today!!

An e-auction platform has resulted to be beneficial for both buyers and suppliers in multiple ways. However, with so many options available to choose from you may find it a daunting task to pick the right one.This is why introducing you to procurEngine which is a trusted provider of eauction software. They offer customization options alongside multiple negotiation options with unique features to fulfil the procurement needs. Moreover, all their solutions are enterprise-ready and available at competitive rates.

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