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Vendorful's Reverse Auction module typically saves buyers 5%-20% in under an hour. By leveraging reverse auctions, you can:
Shorten negotiations from weeks and months to an hour or less.
Have your vendors bid against each other to earn your business.
Work with colleagues to set up lots, line items, and auction rules.
Maximize the integrity of your process by allowing the vendors to compete in a free market.
A look at some of the key features of Vendorful's Reverse Auction module.
Once your account is created, you are mere mouse clicks away from launching an auction.
Shorten negotiation cycles, usually to an hour or less.
Run single and multi-lot auctions with one or more line items per lot.
Get the prices in the currency you want.
See bids as they come and and track savings as they happen.
Report on network performance and automatically account for clock drift and time zones.