A reverse auction is a type of auction in which the roles of buyer and seller are reversed.  In a reverse auction, the sellers compete to obtain business from the buyer and prices will typically decrease as the sellers underbid each other.

Benefits of Reverse Auction:

  1. New Supplier Discovery
  2. Lower Cost due to the competitive process
  3. Market Determined Best Practice
  4. Fair & Transparent Process
  5. Global Sourcing at a Lower Price
  6. Buyer-Supplier Relationships
  7. Huge success if executed along with a well-defined e-commerce site

Security: Firewall protection, Protection from SQL injections, robust, scalable, portable application.

Benefits for Admin: Expands the business to all over the world, Great Revenue, Users, Product, Report management, Easy to monitor and handle everything.

Benefits of Seller

  1. New Opportunities
  2. Opportunities irrespective of the size of business
  3. Build a strong business relationship
  4. No negotiations

Benefits of Buyer

  1. Greater choice
  2. Time saving
  3. Leads to global searches for the best price