REVERSE AUCTIONS2019-02-08T17:55:35+00:00

REVERSE AUCTIONS

PH Bidding’s Reverse Auction solution gives buyers and suppliers the tools they need to run a successful and equitable auction.2019-01-29T19:23:07+00:00

It connects the dots for all parties involved; suppliers have clear specifications of the job at hand, while buyers can undertake due diligence on suppliers and the auction as a whole. Equipped with this, companies can leverage reverse auctions to maximize cost savings and increase business impact.

Reverse auctions have been proven to positively impact the bottom line.2019-01-29T19:21:04+00:00

When used in the right categories (commodities or services with low cost of switching), the reverse auction is the most effective tool for maximizing savings and creating value.

A reverse auction is an auction in which vendors bid down instead of buyers bidding up.2019-01-29T19:20:25+00:00

By sourcing goods and services in this way, companies can specify exactly what they want and allow vendors to vie for their business, which typically leads to a decrease in purchase prices. Companies can save 10-20% or more when they use reverse auctions for their method of procurement.