A reverse auction is a procurement method designed to get you the best price from vendors. By using a reverse auction, multiple vendors have a chance to competitively bid in real time, resulting in reduced prices and more savings.
A reverse auction is the best way to get the lowest and best price from qualified vendors.
Much like a sealed bid, a reverse auction is an online sourcing event allowing vendors to bid competitively to win your business.
Unlike a sealed bid, vendors are allowed to change their price if they choose. This highly competitive process provides vendors an opportunity to get their foot in the door with new customers across the state, customers they otherwise would not be able to reach.