Auction Services offer corporations easy-to-use Web-based solutions for conducting online exchanges that provide real-time pricing and brings an unprecedented level of profitability, control, and simplicity to corporate procurement and liquidation. Instead of trading at fixed and pre-determined prices, buyers and sellers can leverage the market forces of supply and demand to dynamically set prices through the use of online auctions.

eProcurement Auction Services is available either as a stand-alone solution or as part of eProcurement Marketsite. eProcurement Auction Services enable two primary types of auctions:

• Forward Auction: Suppliers auction off excess inventory and receive market price for surplus goods.
  
• Reverse Auction: Buyers post RFQs for goods and services they're interested in purchasing and invite suppliers to bid online.
  

  Benefits to Buyers
  eProcurement Auction Services presents new value propositions for buyers. Benefits include:

  • Significant reduction in the cost of goods purchased
  • Shorter supplier negotiation cycles
  • Additional sourcing capability for hard to find and discounted items from surplus or excess inventory

  If you have questions or problems regarding eProcurement Auction Services, please refer to the Auction FAQs or email us at auctions@eProcurement.com.