Why do leading organizations prefer to negotiate with suppliers using e-Auctions?

online procurement software

As technology has become user friendly, everyone has become used to ordering things online and having them delivered to the doorstep. The use of the latest tools and platforms has made it easier for businesses to connect with their prospects. Like every organization adopting the digital world, the e-auction platforms cannot be lagging far behind. They come with multiple advantages which gives a valid reason to the leading organizations to use them for negotiating with their suppliers. It is simply because of the bid proposal software that trading online is no longer restricted to the purchase and sales of things.

Not to mention, they have managed to transform the way organizational procurement is performed today. Also, the extraordinary growth of e-auctions has intrigued the business community.

What are e-Auctions?

Before you understand why leading organizations are opting for the e-auction platform, it is important to understand what it is all about.

Basically, it can be defined as a process of conducting an online auction where commodities, capital equipment, stores and spares, services, transportation, coal etc are bought through online bidding which is competitive in nature.

The reverse auction platform in India from developers like ProcurEngine makes it possible to buy all types of products and services. There are many types of e-auctions- English, Dutch, French and Japanese reverse e-auction to name a few.

It would not be wrong to say that e-Auctions have become a way of smart working and not just an IT tool that makes life easier.

Reasons why leading organizations prefer to negotiate with suppliers on e-bidding software

There are multiple reasons why leading organizations prefer to use e-bidding software from developers like ProcurEngine to negotiate with the suppliers. So let's find out the salient reasons and why as a leading organization you should opt for it too.

  • There are no geographical restrictions
  • One of the main reasons why leading organizations have opted for e-auction platforms is because they help to eliminate geographical boundaries. They provide opportunities to the sellers to access wider prospects for their services and products.

    At the same time, it helps buyers to make purchases from across the world even without spending a penny on traveling.

    The presence of e-auction platforms completely eradicates the restriction of traditional methods where there is need to attend physical negotiation where one is not even sure of what the customers might be interested in.

  • Different ways of negotiating
  • Traditional buying involves negotiating face to face. e-auctions platforms have eliminated the need to physically attend the negotiation and make face to face deliberations.

    One can negotiate with the other party through both video calling and emailing - whatever they may find convenient. There is a constant possibility of exchanging agreements until a deal is reached with mutual consent.

    Also, there is no need to manually create comparative statements with relative position of the bidders etc. It can all be done autonomusly through the e-auction platform offered by the best procurement solution provider like Procurengine.

  • No timing restrictions
  • Another reason why leading organizations have become dependent on reverse bidding software globally is that there need not be timing restrictions for special cases with suppliers located in different time zones.

    This is simply because online auctions can be open 24 hours and it does not limit the ability of any organization to bid at their own working time.

    It effectively ensures that an organization may bid joyfully during the convenient time in foreign countries without missing any important deal. There is a sense of freedom when it comes to timing as one gets the best discounts and logs onto auctions whenever required.

  • Streamlined negotiations
  • When it comes to using e bidding platform, the negotiations can be expected to be streamlined. Traditionally the bidding involved several weeks of negotiation times which has completely been eliminated because of the e-auction platforms.

    The negotiation is simulated in 30- 45 minutes on average involving multiple bidding opportunities including associated processes of communication, assistance etc.

  • Quick transaction
  • Leading organizations are already aware of the time consuming process of manual negotiation with all other associated difficulties. They are undoubtedly in-efficient which no organization appreciates. On the other hand, reverse auction software in India from developers like Procurengine has eliminated the problem.

    They can help one to have a unique experience without needing to take months to plan and execute the negotiation process. Using reverse auction platform organizations can complete negotiations quickly in just a week or two from planning to conclusion..

    Get yourself the best e-auction platform to connect with suppliers!! After discovering why leading organizations have switched to e-auction platforms to make their business profitable and negotiate with the suppliers efficiently - you must be looking forward to taking advantage of the same technology.

    With so many options available, it may be a daunting task to find the right procurement solution provider and this is why you have been introduced to ProcurEngine.

    They are one of the most trusted, renowned and reputed platforms where you can get enterprise-ready procurement solutions. The experts make sure that your events get approved through their commercially or technically closed loop communication with the other stakeholders in an autonomous workflow..

    Having a team of talented experts, they make sure to include unique features and customization options alongside negotiation options in the e-auction platform at competitive rates.