What the Buyer Sees
1. Time Remaining: Events are typically scheduled to last for 30 minutes. If a bid is placed by any supplier with less than 3 minutes remaining in the event, the clock resets for an additional 3 minutes. This format allows active competition rather than encapsulating competition into a set time-frame.
2. Competing Suppliers: A listing of suppliers competing in the event. Information includes each supplier's current ranking relative to other suppliers, their current and previous bid, a link to their bid history and an area that designates which suppliers are logged in to the system.
3. Data Summary: Includes total number of bids during the event, total lead changes measured by lowest price, high-low spread between two lowest bidders and total number of time extensions.
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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.
Aberdeen Group
Reverse auctions remove unnecessary costs and inefficiencies from the supply chain and are critical for companies to embrace at this time.
Supply Excellence
"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.
eProcurement Daily
“The future belongs to those who can see possibilities before they become obvious.”
John Sculley
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