What is a Reverse Auction?
A reverse auction is a type of auction in which the roles of buyer and seller are reversed. In an ordinary auction, buyers compete to obtain a good or service by offering increasingly higher prices. In a reverse auction, the sellers compete to obtain business from the buyer and prices will typically decrease as the sellers undercut each other.
It is a competitive purchasing process that achieves true market value. eBridge provides a platform which allows you to take advantage of a savings that could not be realized in any other way.
eBridge provides fully managed reverse auction solutions, creating efficiencies and delivering hard dollar savings to our customers’ bottom line. Our team of procurement experts lead customers each step of the way to achieve remarkable results for their organization.
"When a client engages eBridge they don't just get one person, they get a team! A decisive, diligent, resourceful and loyal team from top to bottom. This standard is what sets eBridge above others because we expect this from ourselves first and foremost."
- Peter Langlois, Director of Procurement Operations
eBridge effectively works with buyers to determine how to make fully managed reverse auctions an integrated element in their purchasing process.
- Average savings of 14% versus established budget
- Average of 6 participating suppliers per event
- Niche market in procurement technology
- $100,000 minimum
- Average auction volume $1.9 million
- No up-front cost
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40% of CEOs and CFOs are planning to utilize a third party to help manage their procurement expenses within the next two years.
Reverse auctions remove unnecessary costs and inefficiencies from the supply chain and are critical for companies to embrace at this time.
"Earning your trust is a high honor for all of us here at eBridge. We promise to do what we say we will do, and be found worthy of the trust you place in us."
Jim Headlee, CEO, eBridge
Research shows that companies that outsource their daily business functions realize tangible savings to their bottom line.
“The future belongs to those who can see possibilities before they become obvious.”