Best Reverse Auction Software | EC Sourcing Group

As AI and procurement technology advancements become easier to implement, the role of reverse auctions in strategic sourcing as a strategy is expected to grow across all industries. In addition to esourcing and traditional RFP project management solutions, EC Sourcing Group offers many secondary negotiation tools, including those for forward auctions, reverse auctions, and soft auctions (which can be a solid alternative to a traditional reverse auction).

EC eAuctions includes powerful features you and your supplier partners need and can integrate seamlessly via open API to other solutions & systems.

Intuitive reverse bidding & soft e-auction tools

Our teams have experience leveraging eAuctions to drive additional savings while maintaining or improving on supplier service levels & performance expectations.

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Client Results

Improving sourcing results, supplier engagement, and procurement ROI with client-driven enhancements

Excel-friendly upload/download the majority of project content

Numerous types and unlimited template possibilities for rapid and efficient re-use

Supplier input controls – receive desired content in preferred formats

Open API allows for turn-key integration with all other data systems

Automated reminders to ensure suppliers stay on track

Rich specification management – upload thousands in just a single zip file

Optional gating for confidentiality & managing Ts and Cs up front

Artificial Intelligence (AI) & Machine Learning (Text Analysis & Navigation)

Solutions that help procurement & sourcing teams…

Expand value rapidly to new departments and categories

Shorten traditional RFx & sourcing cycle times by 40-60%

Drive average annual savings improvements of 15-30%

Generate actionable insights & transfer more knowledge

Increase influence & spend under management by 20-40%

Align more effectively & securely across data systems & stakeholders

Discover how leading procurement organizations leverage our solutions and team as an extension of their own to optimize value & results

Case Studies

EC eAuctions, an add-on solution within EC eSourcing (formerly FlexRFPTM), provides an array of reverse bidding, online, and e-auction capabilities for improving your position with direct, indirect, and services-related vendor partners. EC eAuctions benefits from continual technology enhancements that our group of clients across all industries request.

EC eAuctions are secure and configurable to
comply with industry, organizational, or
location-specific terms and conditions that you
require.

RECENT BENCHMARKS FOR SOURCING SOLUTIONS

Experience dynamic technology that helps put an end to…

Impossible–to–find project data you’ve used previously

Internal audits that are painful because of lack of documentation

High costs due to data integrity & integration challenges

Stakeholder & supplier frustration with the tools or process

Use EC eSourcing and EC eAuctions if you’re moving away from in-house production and toward contracting with offshore suppliers.

Instead of annual or multi-year contract negotiations across the marketplace of suppliers, the product sourcing software lets you access a large volume of quote requests that are sent to a known audience of trustworthy suppliers frequently.

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Testimonial

"We monitor the market and evaluate other options on a regular basis but we still have not found a product that is this easy to use ‐ so we stay!"

CLIENT TITLE	INDUSTRY	RELATIONSHIP
PROCUREMENT LEADER	MANUFACTURING & DISTRIBUTION	CLIENT PARTNER

CLIENT TITLE

PROCUREMENT LEADER

INDUSTRY

MANUFACTURING & DISTRIBUTION

PROCUREMENT LEADER

CLIENT PARTNER

"I have been in wireless for 12 years and this is the best RFI/RFP process that I have experienced, streamlined, concise, and easy to understand."

CLIENT TITLE	INDUSTRY	RELATIONSHIP
VICE PRESIDENT, SALES	TELECOM	GLOBAL SUPPLIER

CLIENT TITLE

VICE PRESIDENT, SALES

INDUSTRY

TELECOM

PROCUREMENT LEADER

GLOBAL SUPPLIER

"They understand what you need and how you want to receive it because they've lived in your world."

CLIENT TITLE	INDUSTRY	RELATIONSHIP
SENIOR ANALYST	SPECIALIZED CONSULTING FIRM	CLIENT

CLIENT TITLE

SENIOR ANALYST

INDUSTRY

SPECIALIZED CONSULTING FIRM

PROCUREMENT LEADER

CLIENT

"Your software is great! I have been involved in many of these (e-sourcing negotiations) and in fact just finished one last week for a Fortune 20 Healthcare Company. Your software is much less complicated and more user-friendly than any of the other ones I have used."

CLIENT TITLE	INDUSTRY	RELATIONSHIP
SALES EXECUTIVE	MANUFACTURING & DISTRIBUTION	SUPPLIER

CLIENT TITLE

SALES EXECUTIVE

INDUSTRY

MANUFACTURING & DISTRIBUTION

PROCUREMENT LEADER

SUPPLIER

AWARD & SCENARIO OPTIMIZATION

Utilizing its advanced sourcing optimizer, EC Optimize finds the best outcomes possible

Today’s procurement leader has opportunities in front of them that are unprecedented in terms of impact potential to the organizations they serve. What has traditionally been a mission to maximize year over year savings above all else has evolved to one that still swings for the savings’ fences but does so while considering supplier dimensions on service levels, locations, diversity, risk, sustainability, and even social justice areas.

TECHNOLOGY HAS NEVER BEEN SO ACCESSIBLE, COMPATIBLE, OR COST EFFECTIVE FOR PROCUREMENT

What would typically take hours upon hours of analysis and scenario modeling work to review, can now be evaluated in a matter of minutes.

EC Optimize helps procurement quantify the financial impact of award scenarios or stakeholder preferences with dimensions like diversity, service level performance, IT risks rating, insurance risks, incumbency status, geographic footprint, or any other value measures evaluated.

40% OF CLIENTS LAST YEAR MIGRATED FROM A LARGE E-PROCUREMENT SUITE

Advancements in machine learning, AI, and RPA are helping procurement do more with less time andresources. The emergence of an open API architecture is also leveling the playing field between integrating specialized point solutions and relying on the projected ROI of thelarge eprocurement technology suite.

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Featured Resources

BLOG POST

Reverse Auctions: Revolutionizing Sourcing for Businesses of All Sizes

In the dynamic world of procurement, sourcing teams…

EC Sourcing Group ranks as a ‘Value’ & ‘Customer’ Leader in Latest eSourcing Benchmarking Study

eSourcing Results & Methodology Review

The Trusted Advisor

E-Book Series: Procurement Stakeholder Alignment

Digital-related transformation projects have marched up the priority list with a marked increase in departments looking to leverage advancements in technology to accelerate value.

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