MyAuctionNet
eBidding
Let bidders compete to give you the best price for increased savings and profit. Deliver a rapid Return of Investment (ROI) by reducing the total cost.
Our end-to-end Electric Bidding Solutions guarantees you a transparent auction process with pre-selected potential suppliers. Analyze all bid movements in real-time and witness a significant price reduction.
Why MyAuctionNet?
Get competitive price
Reach towards the market price and realize potential savings from local and foreign bidders through reverse or forward auction
Simplify negotiation
Reduce hassle of traditional negotiation and empower supply chain by opening opportunity for vendors to participate in the bid event
Fair and open competition
Suppliers will come in as bidders to compete against each other to give better market prices, hence generate savings
Real-time graphical view
One single graphical view to know where the bids are and monitor the competition between bidders to understand auction strategy
MyAuctionNet features
Set up reverse or forward auction
Flip from RFx to eBidding or create a new eBidding event to set your expectation easily. Easily set up your bid event, either for reverse or forward auction. Then, publish your online bidding event to your chosen and authorised vendors.
Competitive bidding
Create level playing field to bidders when they can bid in real-time through a single graphical views of all bids received online. Bidders can compete against the other bids submitted by their competitors. This is all with the confidentiality of not knowing who submit the bids.
Bidder masking and bid history
Ensure good governance through compliance and transparency. We promote fair bidding through bidder masking, bid history and audit trail. You can monitor the bids online with bidders name being masked and every activity will be recorded and can be retrieved for audit checking.
Online communication
Improve relationship with suppliers through an auditable online communication where you can send online messages to all bidders during the bidding event, to promote competition and give reminders about the bid event.
Commentary by world's leading IT analyst and industry leader
For this vendor's product and services, Gartner further evaluated: E-Sourcing: strong support
Ease of Use: exceptional.
Magic Quadrant for Strategic Sourcing Application Suites
Gartner
Success stories
Our clients’ achievements demonstrate more on our capabilities. Learn how MyBiz solutions help companies to achieve their procurement objectives and beat their savings goal through spend management and digital transformation.
Try our solutions today
Whether you want to increase profitability, improve efficiency or reduce cost, we are here to help you achieve your goals. Request a free demonstration of our live solutions from our consultants and explore how our solutions can bring value to your company.