e-Auction brings together the buyer and the suppliers in a single repository for a systematic online Auction. It automates and streamlines all the stages of the auction process i.e. Auction preparation with auction specifications, publishing, pre-qualifying the Vendors, Receiving Bids, auctioning and awarding the contract to the winning Vendor. It maximizes savings potential through optimizing vendor selection and reducing tender cycle time with improved integrity and transparency in the Auction process.
Creates a database of goods, services, suppliers, vendors and contracts
Using our e-Auction platform, all the details of the auction are fed into the system. With these details, the details of the goods, services, suppliers, vendors and contracts are also updated on the same platform- bringing all required information to one repository, creating one updated database.
Minimizes the paper trail and eliminates advertisement costs
Utilizing the power of our robust auction platform, you can minimize the organization’s paper work. This system assists in eliminating all advertisement costs as it posts auction details on the platform and collaborates with all the required vendors.
Facilitates faster response to queries during the tender period
The online e-auction process is enabled by an automated notification system which a facilitates faster response to questions and points of clarification during the auction. Both the suppliers and the buyers are always updated on the proceedings of the auction. The auto notification also eliminates chance of any supplier or vendor being left out or not updated with any particular notification.
Reduces hassles of communication and administration
e-Auction, being an online platform keeps all the vendors updated about the auctions, changes in the existing auction and other related information via automated notifications. In addition to reducing hassles, it also, facilitates in reducing the cumbersome tasks of sending and receiving auction notifications to each and every vendor individually.
Eliminates obsolete information with real time updating
As e-Auction is an automated and online system, things are very well sorted and simple. It saves the effort with an update at one place, all related and relevant places are updated at that very instance and that too automatically. It saves the efforts of visiting all the concerned places in the system and updating things individually. Also, it eliminates all the possibilities of missing out on any changes to be made.
Improves audit trail increasing integrity and transparency of the tendering process
By keeping the vendors notified and updated about the auction and its proceedings, the online e-Auction maintains transparency with no chance of malpractice and keeps the vendors assured of a fair auction. This way, it helps cultivate healthy relationship between vendors and buyers as well as within the vendors.
Details with procurement spending information and generates analytical reports
The decision-makers can view all real-time details on their dashboard. The system generates reports and facilitates these decision-makers with details of spending and saving in each auction. These reports provide decision-makers with clear visibility and help them take more and more profitable decisions.
Facilitates instant access to both current and historical tender information
The data in e-Auction is always accessible. The system provides all details regarding the current or earlier auctions from the stored data in one repository. It saves all the time spent for searching details in the dusty files stored in the stores.
