What are the benefits of an online reverse auction versus the standard procurement process?
In an online reverse auction, suppliers are invited to bid in a web-based auction in real-time. In this process, suppliers compete against each other to win your business, driving down the price in the process. Because suppliers can see the price they are competing against, but not who they are competing with, they are much more aggressive in discounting. Once the sourcing event is over, the buyer has the information he or she needs to make an informed decision. Because suppliers submit multiple bids in response to pressure, they have more opportunities to earn a buyer’s business then in a closed format. Effectively driving down prices to new lows is what makes Reverse Energy your one stop energy procurement specialist. Our Platform We currently have the most effective web and technology based reverse auction platform in the industry . In fact it spans multiple industries. From Green Energy procurement and commodities to Hospital Procurement for capital equipment and supplies in the he
