e-Auctions are one of the most effective ways to negotiate with suppliers. They get savings anywhere between 4-17%. Your e-Negotiation is a platform for your organizations to create best procurement practices, unbiased negotiations resulting in the best prices – always.
One of our clients negotiates freight for a large number of international locations quarterly. They create a simple staggered English Reverse Auction - where each location opens for bidding one-by-one for 2-minutes and gets bidders to fight it out to become L1. In about 2-3 hours, they get firmly negotiated freights for about 70 international locations. This is followed up by a work-flow based approval from the relevant department heads. The organization is consistently saving 8-21% in their contract for the past 3 years using procurEngine.
One of our clients used Dutch Auction to finalize a large EPC contract, where the difference in the offered prices of different contractors was too high. They got 11% savings in less than 21 minutes of bidding.
A leading chemical company, who also extensively uses ProcurEngine for their business negotiations, achieved 7% extra savings by configuring a quick and easy bid with the help of procurEngine’s streamlined portal.
A leading EPC Company configured an e-Auction for huge quantities of fasteners for a project. Owing to simple e-Auction of procurEngine’s methodical platform, six aggressive bidders got them 13% additional savings from their targeted prices.
A leading manufacturing company uses procurEngine’s RFQ negotiation module to finalize all their contracts very effectively. Instead of sending email enquiries, preparing comparative statements and updating multiple revisions - the team relies on procurEngine - which, as an efficient assistant, does all that - with practically no effort. The team focuses solely on getting the best deals.
In one of the large scrap sale cases, there were 11 qualified bidders for 60 MT of SS Scrap. A simple bid using procurEngine’s user-friendly portal got them 12% higher rates than their target.