| MyAuctionNet™ |
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MyAuctionNet™ delivers a rapid return on investment and is an important element for supply management strategy designed to reduce the total cost of bought-in goods and services. Reverse auctions, where multiple sellers compete for the right to provide goods or services to a buyer, is an excellent tool for reducing purchase costs, strategic sourcing and overall supply management activities. Dynamic real-time bidding helps achieve rapid downward pressure on prices that is not normally achieved using the traditional static 3-quote paper-based bidding, however used injudiciously, this can damage buyer-seller relationships, collaboration, and purchasing process improvement because it becomes a technologically-assisted form of zero-sum power-based bargaining! MyBiz recognizes that there are as many pitfalls as successes in implementing a holistic Spend Management strategy - we have helped large organisations save tens of millions of dollars using MyAuctionNet™, the core technology of which was showcased at the Asian CEO Summit in Hong Kong in 1999 where it was used by Microsoft's Bill Gates to auction his watch to participants online!
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"MyBiz proves that Malaysian companies and technology can actually deliver."
Rafidah Aziz - former Minister of International Trade and Industry, Malaysia.
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