Today eBridge is proud to announce a partnership with an international manufacturing firm. The company’s first event was for heavy equipment. The auction featured suppliers in Africa and the United States with the buyer residing in Eastern Europe.
Four suppliers competed for the business, placing multiple lowering bids throughout the reverse auction event. At the conclusion of the online reverse auction event, the final low price was 15.39% below the company’s projected budget.
Efficient procurement is a priority for firms throughout the world. Reverse auctions are applicable for businesses world-wide, due to the universal need for organizations to operate efficiently and profitably.
And because the solution is web-based, buyers and suppliers can be anywhere in the world to participate in a bid!