Reverse Auctions

Watch Video

Shorten your price negotiations from months to minutes.

Reverse Auctions in a Snap

Point-and-Click Setup

Set up Reverse Auction Bidding in minutes
Add colleagues and delegate setup tasks
Easily create lots and line items
Invite vendors without onerous onboarding

An emphasis on simplicity makes the Reverse Auction software easy for bidders as well.

Reverse Auction setup

Optimized for Performance

Reverse Auction live results

Bye, bye network latency!
Built on real-time architecture
Real-time feedback on bids
Latency and jitter measurement and warnings

Vendorful's reverse auction template 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.

Comprehensive Configuration Options

Configure the rules of the auction your way
Select from multiple auction styles
Choose a currency on a per-lot basis
Set bid thresholds

Auctioneers on the Vendorful reverse auction platform can use "Quiet Time" to prevent bid sniping and increase the number of bids.

Reverse Auction lot settings

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.

Features at a Glance

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

Quiet time settings
Support for overtime
Real-time collaboration

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

Ready to see the magic for yourself?