Deliver a rapid ROI.
Reduce 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.
MyAuctionNet™ is an end-to-end Electronic Bidding Solution, that covers all the steps in the traditional bidding cycle and more. MyAuctionNet™’s default features have been modeled after Industry Best Practices.
Way back in 1999, Bill Gates auctioned his wristwatch using MyBiz’s eBidding technology to more than 160 Asian CEOs and CIOs at Microsoft’s CEO event, Asia Enterprise Summit, in Hong Kong. Since then, MyAuctionNet™ has been implemented in Major Corporations resulting in extremely significant purchase savings
MyAuctionNet™ is a sophisticated eBidding Solution designed to deliver high operating efficiency and significant purchase savings. The system’s processes and features are based on Industry Best Practices, and the user interface is designed with many common Windows UI features and elements that are already familiar to most computer savvy users, yet still simple enough for a new user to learn easily (online tips are available for authorised users!). MyAuctionNet™ is a web-based solution and is accessible via today’s popular Internet browsers such as Internet Explorer version 6.0 and above - users only need an Internet connection and Internet Explorer to connect to the System.
To participate in an eBidding event, authorised users from vendors who have been invited to bid logon to the MyAuctionNet™ hosted portal with a secure ID and password. For added security, users will need to key in their unique system-generated PIN number in order to be able to enter the Online Bid Room and participate in the bidding. Vendors can only participate in bids they are authorised or invited to. The bid will remain open from the bid opening date/time until the bid closing date/time.
Movement of all bids submitted by vendors can be viewed by the Bid Administrator in real-time, in a graphical format. Computed cost savings, bid results, summary, and analysis are viewable on-screen as well as in a formatted report. These reports are easy to view and can be printed out if necessary – during the bid event, or even immediately after the event ends. The online bid results are able to be captured and presented in report and graphical format and can be forwarded to the Tender Committee for approval and award. Since these reports may contain sensitive information, access can also be limited so that only authorised users are able to view and print them. Buyers may also opt to print and email the letter of award to the winning bidder.
MyAuctionNet's user interface and portal can be Customer-branded to match corporate identity standards by customising colour schemes and portal branding. Portal branding is critical to instill confidence in vendors so that they bid aggressivel to win the award.
Many organizations all over the world have realized major savings as a direct result of implementing eBidding systems. MyAuctionNet™ is used as a negotiating tool by major corporations (including a single bid event in excess of RM100 Million in value). Purchase savings are significant - arising not only from the state-of-the-art technology but also our experience, which helps buyers in the Technical Evaluation, Qualification of Bidders, eBid structure and strategy - all of which are critical elements to ensure success.
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