E-procurement auction invitations for suppliers

Suppliers are a key part of the e-procurement journey. Understanding and delivering on the benefits of an e-procurement system means encouraging and facilitating your trusted suppliers to be part of the process.

The benefits of e-procurement are just as relevant to the suppliers that utilise platforms like Procurehere as they are the organisations that are seeking their goods and services. First and foremost e-procurement significantly decreases the costs and time taken to submit bids or tenders. That means even working with established partners, e-procurement can have a positive impact. More widely, the global reach of cloud-based e-procurement like Procurehere opens up a world of contract opportunities to suppliers. That all starts with a first step.

Suppliers register free until 1st July 2018

The chances are it’s a key business partner or client that first introduces you to Procurehere, and the most likely way they’ll do so is with an auction invitation. After completing our simple supplier registration system, suppliers can access and view auction events easily through the Procurehere platform.

With the recent launch of our cloud-based Procurehere Version 7.0, suppliers can access a special offer and register free for events until 1st July 2018. There’s never been a better opportunity to unlock the potential of Procurehere for your business!

What to do when accepting an auction invitation

Once you’re signed up to Procurehere, you can view your supplier dashboard and view auction invites under the ‘Event Listing’ tab. If you’ve set up your account for notifications you will also receive an email when invited to an auction event.

Through this listing you will be able to view the name of the Buyer who has invited you to an event, along with event details such as type of event, title of event, current event status, and start and end dates of the auction. Want to find out more details? Just click on the ‘Know More’ button.

If you’re happy with the event details, are keen to participate, and have read the terms and conditions, then just click the ‘Accept Invitation’ button. A notification will then be sent to the Buyer who can confirm or reject your acceptance of the event.

What do the different types of auction mean?

There are a variety of different auction types in Procurehere, catering to a wide range of buyer needs. We don’t want to leave you without a quick overview of that, so let’s summarise very broadly the main types of auction you might encounter:

Reverse English Auction: This auction starts with a high starting price, then decreases based on supplier bids towards a lower bid price.

Reverse Dutch Auction: A Reverse Dutch Auction begins at a low price, then increases at set price increments over set time periods. Suppliers bid at the time they are happy to offer their services at the noted price.

Reverse Sealed Bid: Again, this is similar to the Reverse English Auction, however bids are sealed to other bidders and are only able to be viewed by the Buyer once the auction is complete.

Join Procurehere as a supplier before the 1st of July 2018 and take advantage of our free trial.