e-Auction brings together the buyer and the suppliers on single repository for a systematic online Auction. It Automates and Streamlines all the stages of auction process i.e. Auction preparation with auction specifications, publishing, pre-qualifying the Vendors, Receiving Bids, auctioning and awarding of contract to winning Vendor. It maximizes saving potential through optimizing vendor selection and reducing tender cycle-time with improved integrity and transparency of the Auction process.
Creates a database of goods, services, suppliers, vendors and contracts
Using our e-Auction platform, all the details of 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 paper trail and eliminates advertisement cost
Utilizing the power of our e-Auction robust 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 at this platform.
Facilitates faster response to queries during tender period
The online e-auction process is enabled with an automated notification system which facilitates faster response to questions and points of clarification during the auction. This brings clarity to process with reduced cycle-time. Both the suppliers and the buyers are always updated with the proceedings of 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, the things are very much sorted and simple. 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
Keeping the vendors notified and updated about the auctions and its proceedings, the online e-Auction maintains the transparency with no chance of malpractice and keeps the vendors assured of the fair auction. This way it helps cultivating healthy relationship amongst vendors and the buyers and also within the vendors.
Details with procurement spending information and generates analytical reports
The decision makers can view all real-time details on their dash board. The system generates reports and facilitates these decision makers with details of spending and saving in each auction. These reports help the decision makers with clear visibility and 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 the earlier auctions from the stored data in one repository. Such things are only possible with the process being online and on one platform. It saves all the time of searching details from the dusty files stored in the stores.