e-Auction is the best negotiation tool currently
available in the market to fetch in better prices for disposal or procurement of goods due to its unique feature which
allows the bidders to revise their bids as many times as they want within the pre-defined time to stay in competition.
This is an extension of the tendering process, the only difference being
that the bidders can revise their bids as many times during the auction period to stay in competition. The
prospective sellers revise their bids by decrementing their last bid by a pre-defined value. When the auction time is
over, the seller who quotes the lowest is considered as the winner.
Both PKI and Non-PKI version are available for our e-auction engine. We have an auto
extension facility available wherein whenever a bid is received within the last five minutes, the auction time
automatically gets extended by another ten minutes. This is to give equal opportunity to other bidders who might be
interested to revise their quotes. Similarly our engine has the features of pause auction, proxy bidding, graphical reports
etc. Our engine is very easy to use having a single screen interfaces and also supports different variants of auction like
English, Dutch, and Yankee, Rank auction, Mask – Unmasked, Open-Limited etc. |