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ProcurePort Reverse Auction Software

Save 18% - 40% on addressable spend by implementing reverse auction technology. ProcurePort provides state of the art reverse auction software to assist organizations of all sizes in capturing the savings produced by this unique negotiation method.

  • Maximum Cost Savings

  • Eliminate Negotiations

  • Less Training, More Bidders

  • Save Time & Reduce Burden

Reverse Auction Software Video

Unlock the Secret to Maximum Cost Savings

With our state-of-the-art software, organizations can achieve double-digit price compression, resulting in substantial cost savings. Our easy-to-use and flexible software allows for advanced controls in complex bid negotiations, giving organizations the power to negotiate the best possible deals with suppliers.

Get the Best Deals Without the Hassle of Negotiation

Eliminate the need for time-consuming, frustrating negotiations. Our reverse auction software lets you focus on other important tasks while suppliers compete against each other to win the business. This intuitive process leads to lower prices and better deals.

Minimal Supplier Training Means More Bidders

When bidders are comfortable with the software, they can focus on providing their best bids rather than navigating a difficult platform. A more straightforward process encourages more bidders to participate, creating a larger pool of potential suppliers.

Save Time and Reduce Burden with Quick Setup

Regardless of the complexity or number of suppliers involved, our user-friendly software streamlines the setup of online auctions, so you can spend less time on the setup process and more time analyzing bids and making informed decisions. This saves valuable time and reduces the administrative burden for all parties.

Why ProcurePort Reverse Auction Software?

Common Reverse Auction Challenges

  • Improper tools and planning make the auction creation process grueling

  • Unable to get enough qualified bidders to participate

  • Poorly managed reverse auctions can cause strained supplier relationships

Risk of Not Having a Proper Solution Available

  • Missed opportunities and delays in the procurement process

  • Less cost savings and decreased quality among existing suppliers

  • Damaged reputation makes it harder to attract new suppliers in the future

Benefits of ProcurePort Reverse Auction Software

  • Our intuitive software makes your reverse auction process efficient and hassle-free

  • Secure the best deals from the highest quality suppliers

  • Increased trust and cooperation leading to better marketplace reputation

Uncover the Truth in the Numbers

18% - 40%

Savings on Purchasing Costs with Purchase Requisition Software

80%

Time Savings from Requisition to Purchase award using Purchase Software

25,000+

Users Using ProcurePort for day-to-day procurement tasks

ProcurePort Reverse Auction Software Key Features

Reverse auctions can generate significant cost savings if executed along with a well-defined e-Sourcing process. Touted as one of the best reverse auction software, ProcurePort allows for quick setup of reverse auctions with minimal training.

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Intuitive Event Creation

The auction creation process is simple and easy, allowing users to quickly setup online auctions with minimal supplier training.

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Real-Time Analytics

Analyze auction events as they happen. Capture and analyze data in real-time providing insights into bidder activity, auction progress, and cost savings.

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Graphical Event Summaries

Visualize auction activity and performance. Generate graphs and charts that show key auction metrics, such as the number of bids, bid prices, and bidder rankings.

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Training & Support Included

Helpful training and support to get you up and running quickly. We provide extensive documentation and training resources so you get the most out of our software.

mobile_friendly

Easy Access On The Go

Our auction software is designed to be accessible on the go, with iPhone, iPad, and Android apps for easy access to auction events from anywhere.

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Flexible Event Layout

Advanced controls for complex bid negotiations, with flexible event layout formats that include multi-lot and group capability.

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Custom Data Input Fields

Create custom data input fields (currency, date, file upload, multiple choice, etc.) for collecting additional information along with the basic bid.

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Comprehensive Audit Trails

Capture all bids, messages, and other event-related activities. This provides greater accountability and ensures that all auction activity is fully documented.

gavel

Intuitive Event Creation

The auction creation process is simple and easy, allowing users to quickly setup online auctions with minimal supplier training.

assessment

Real-Time Analytics

Analyze auction events as they happen. Capture and analyze data in real-time providing insights into bidder activity, auction progress, and cost savings.

pie_chart

Graphical Event Summaries

Visualize auction activity and performance. Generate graphs and charts that show key auction metrics, such as the number of bids, bid prices, and bidder rankings.

headset_mic

Training & Support Included

Helpful training and support to get you up and running quickly. We provide extensive documentation and training resources so you get the most out of our software.

mobile_friendly

Easy Access On The Go

Our auction software is designed to be accessible on the go, with iPhone, iPad, and Android apps for easy access to auction events from anywhere.

group_work

Flexible Event Layout

Advanced controls for complex bid negotiations, with flexible event layout formats that include multi-lot and group capability.

settings

Custom Data Input Fields

Create custom data input fields (currency, date, file upload, multiple choice, etc.) for collecting additional information along with the basic bid.

description

Comprehensive Audit Trails

Capture all bids, messages, and other event-related activities. This provides greater accountability and ensures that all auction activity is fully documented.

Get a powerful, intuitive digital procurement platform for less.

Reverse auctions play a critical role in today’s sourcing strategy. ProcurePort provides simple to use, easy to implement, affordable reverse auction software, which can cut procurement costs and add to your organization’s bottom line. Schedule a free demo or connect with us today to let us know your specific strategic sourcing software requirements.

Integrate with Everything

At ProcurePort, our goal is to provide you with a procurement experience that is both effective and hassle-free. That's why we've integrated with some of the top technology solutions in the market to ensure that our software works seamlessly with your existing systems.

Third Party ERP integration
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Cloud-Based

99.99% Uptime

language

Globalized

Currencies and Languages

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Secure

SOC2 Type2 Certified

Reverse Auction Software FAQs

What is reverse auction software?

Reverse auction software is a type of e-procurement software that enables businesses to conduct auctions in which suppliers bid against each other to win a contract. The goal of a reverse auction is to drive down the cost of goods or services by encouraging suppliers to offer their lowest possible price.

How does ProcurePort reverse auction software work?

Reverse auction software works by allowing businesses to create an auction event with specific parameters, such as the products or services being auctioned, the duration of the auction, and the rules of engagement. Suppliers are invited to participate in the auction and submit their bids. The software tracks and compares these bids in real-time. The process continues until the auction ends. Buyer can evaluate final bids and decide who they wish to award the business to based on price and other parameters.

Benefits of using reverse auction software?

The benefits of using ProcurePort reverse auction software include:
  • Cost savings: Reverse auctions can result in significant cost savings for businesses by driving down the price of goods and services.

  • Increased efficiency: Reverse auction software automates the bidding process, making it faster and more efficient than traditional procurement methods.

  • Better supplier selection: Reverse auctions allow businesses to compare bids from multiple suppliers and select the one that offers the best value for their needs.

  • Transparency: Reverse auctions provide transparency throughout the procurement process, allowing businesses to make informed decisions.

Who can use reverse auction software?

ProcurePort Reverse auction software can be used by any business that needs to procure goods or services. It is particularly useful for businesses that need to purchase large quantities of items or for businesses that want to compare multiple suppliers to get the best value for their money.

What category of spend is Reverse Auction Software most suitable for?

Reverse Auction Software can be used to purchase any type of goods or services where the purchase volume is large and you have 3 or more suppliers that can provide those goods or services. It is widely used in the purchasing of indirect goods and materials (Indirect Spend)

Is the ProcurePort reverse auction software easy to use?

ProcurePort reverse auction software is designed to be user-friendly and easy to use, even for businesses that are new to e-procurement. The software includes a range of features that make it easy to create auctions, invite suppliers, and analyze bids.

What are the key features of the ProcurePort reverse auction software?

The ProcurePort reverse auction software is easy to use and includes:
  • Customizable auction parameters: The software allows you to set the rules of engagement for your auction, including the duration, the products or services being auctioned, and the bidding increments.

  • Supplier management: The software makes it easy to invite suppliers to participate in the auction and to manage their bids.

  • Reporting and analytics: Reverse auction solution provide detailed reporting and analytics on the auction, including bidder activity, bid history, and winner analysis.

  • Integration with other software: ProcurePort reverse auction software is easy to integrate with other procurement and supply chain management software (ERP).

Can I integrate ProcurePort reverse auction software with my existing procurement software?

ProcurePort reverse auction solution integrates with popular procurement and supply chain management software, such as SYSPRO, PLEX, Microsoft D365, SAP, Oracle and many more.

Is training and support included in the ProcurePort reverse auction software license?

Yes, unlimited training and support is included to help your businesses get started with the software. Including online tutorials, user manuals, and technical support.

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