Reverse Auctions Simplified

Feeling pressure to reduce spend? You can shorten your price negotiations from months to minutes. Vendorful's reverse auction software can drive 5%-20% savings in a half hour.

Point-and-Click Setup

Reverse Auction setup

An emphasis on simplicity makes our Reverse Auction software easy for suppliers as well. Reverse auction bidding is can be done with a few clicks of the mouse.

Set up Reverse Auctions in minutes

  • Add colleagues and delegate setup tasks
  • Easily create lots and line items
  • Collaborate with colleagues
  • Invite vendors without onerous onboarding

Optimized for Performance

Reverse Auction live results

Vendorful's reverse auction software calculates clock drift on all bidder computers and automatically corrects for it, ensuring that auctions begin and end at exactly the same time for participants.

Bye, bye network latency!

  • Built on real-time architecture
  • Real-time feedback on bids
  • Latency and jitter measurement and warnings
  • Performant globally

Want to learn how you can speed up your savings?

With global economic uncertainty, organizations are aggressively looking to reduce costs. An underutilized e-sourcing capability, reverse auctions can be a valuable tool in this regard. Suppliers bid against each other in real time to earn your business.

Features at a Glance

Single lot and multi-lot options
Multiple line items per lot
Custom units
Specifications and notes on line items
Lot-level maximum bids
Lot-level minimum bid decrements

Quiet time settings
Support for overtime
Real-time collaboration

Foreign currency support
New vendor invitations without cumbersome onboarding
Easy access to supplier relationship management

Real-time network statistics and warnings
Configurable bid verification options
Real-time bid display
Dynamic bid rankings
Post-auction best-of-the-best display

What if I've never run a Reverse Auction before?
Going from RFQ to Reverse Auction for the first time? Vendorful has performed the first Reverse Auction for a range of organizations, including a Fortune 100 company. Our team will walk arm in proverbial arm with you to and help you achieve the desired outcome.