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EC eAuctions

SAVINGS MORE QUICKLY WITH LESS HASSLE

Easy to use e-auction and soft auction tools that accelerate impact &amp financial gains

EC eSourcing Solution
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

Capabilities Snapshot:

  • Average set-up time – Less than 1hr
  • Typical training curve – 1 live, real e-auction
  • Data encryption & supplier anonymity assurance
  • Ability to configure auction per item or via grouped lots
  • Analysis available real-time with ability to update supplier views
  • Full post-auction analysis & reporting available upon auction conclusion
  • Fully configurable to align with your organization’s requirements, terms, and conditions for approved suppliers
  • “Bid Validation” features to ensure bids are acceptable at the onset of each auction
  • Compatible across sourcing categories, industries, and data systems (e.g. ERP, P2P, TMS, CRM, VMS)
EC eSourcing Overview Video

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

Meet Our Team
Client Results

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

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Excel-friendly upload/download the majority of project content
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Numerous types and unlimited template possibilities for rapid and efficient re-use
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Supplier input controls – receive desired content in preferred formats
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Open API allows for turn-key integration with all other data systems
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Automated reminders to ensure suppliers stay on track
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Rich specification management – upload thousands in just a single zip file
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Optional gating for confidentiality & managing Ts and Cs up front
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Artificial Intelligence (AI) & Machine Learning (Text Analysis & Navigation)

Solutions that help procurement & sourcing teams…

Expansion
Expand value rapidly to new departments and categories
Shorten Time
Shorten traditional RFx & sourcing cycle times by 40-60%
Savings
Drive average annual savings improvements of 15-30%
Insights
Generate actionable insights & transfer more knowledge
Increase
Increase influence & spend under management by 20-40%
Process
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
EC eSourcing Charts

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
EC eSourcing Statistics

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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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

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MOST RECENT BENCHMARKING REPORT

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

eSourcing Results & Methodology Review
READ MORE
WHITE PAPER DOWNLOAD

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.
DOWNLOAD TO LEARN MORE

EXPLORE OUR OTHER PROCUREMENT & SOURCING SOLUTIONS…

EC Spend
EC Spend
EC eAuctions
EC eSourcing
EC Optimize
EC Optimize
EC Supplier
EC Supplier
EC Contracts
EC Contracts
EC Workflow
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EC Insights
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