Conduct Negotiated eCommerce
Best Value Reverse Auction or Negotiated eCommerce
Enables the buying organization or its agents to electronically tender the buyer’s eRFX for private bidding in a "Value-Indexed" reverse auction engine. Of the pre-qualified vendors/suppliers, only those that are specifically invited are given access to the bidding event
The auction engine automatically combines the non-price value ranking (see RFP evaluation Process) with the total cost of ownership bid to generate a rank-order composite Value Index for each vendor/supplier. The buyer or its agents can then select the best value vendor/supplier based on the composite of the non-price (qualitative) ranking and the total cost of ownership (quantitative) ranking.
This functionality allows the buyer to select the vendor/supplier based on overall BEST VALUE ranking.
Multi Variable Auctioning Capability
- Natural Negotiation – Best value
- Dynamic On-Line Negotiation – Reverse auctions
- Multi Variable selection criteria & Indexing
- Bid Optimization Via Value Index
- Real-time email communication & alerts
- Award based on Best Value
- Collaboration/Join Process Optimization
- Win/Loss analysis