eAuction

Get the best value from your budget with our eAuction capabilities. eAuction reduces manual processes so that procurement teams can run more events on a regular basis. It also improves objectivity, transparency and auditability in the supplier selection process.

For suppliers, eAuctions reduce the sales cycle time since award decisions can be made very quickly. These awards are made not by price alone, but other factors including quality and service levels. This enables each supplier to create their own competitive advantage.

Auction types based on your unique needs

Price Auction

Enables suppliers to see the leading bid for the total basket. By comparing their own quote, suppliers can identify the price reduction required to attain the winning position.

Ranked Auction

The bid price of the winning supplier is hidden and suppliers can only see their own ranking and the last bid amount, encouraging each supplier to price aggressively

Line Item Auction

Suppliers will only see if they are winning on a product line-by-line basis but are never aware of their overall ranking or the leading bid. This helps to ensure each supplier provides the very best price on every line.

Mix & Match Auction

Choose the features of any of our auctions to suit your objectives. We leave it up to you to decide how you’d like suppliers to submit their pricing for each event.

Key features

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Reserve Supplier

Ensures the supplier’s quote is at or below the reserve price.

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Auction Preview Bid Delay

Suppliers can prepare their pricing but are unable to start actively bidding until the auction begins.

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Auto Extensions

Great for last minute bids. Dictate the length and number of auto extensions.

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Enable Winning Bid Lockout

Lock a specific line from the winning supplier until another supplier outbids them.

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Buyer Portal

Get instant visibility of live auction data including supplier’s ranking and savings against current supplier.

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Best & Final (BAF)

Suppliers can update their bid or add an influencing factor.

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How eSourcing technology is helping procurement managers do more in less time.

98% of our users surveyed claim results have been overwhelmingly positive. Download the infographic to learn how eSource Wizard's eAuctions and eRFx is helping procurement managers do more in less time.

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Frequently Asked Questions

We’ve put together some frequently asked questions to give you more information about using eSource Wizard. If you have a question that you can’t find the answer to, please use the contact us page.