Reverse Auction Software

Conduct fully electronic Reverse Auctions

Drive pricing down by bringing the supply chain together in a dynamic pricing environment with our user-friendly auction sourcing tool. Leverage multiple auction strategies in your reverse auction events to get the lowest price possible on your targeted goods or services.

Reverse Auctions don't need to be difficult

Without the proper tools, you will likely find yourself frustrated and overwhelmed with your current reverse auction process.

You can continue to battle these issues...

Or you can unleash your potential

Here's how

A better, faster way to conduct reverse auctions

THE Do-it-yourself Auction Platform

The Reverse Auction module provides a dynamic pricing environment where suppliers compete for business in real-time. Easy-to-use event creation and management tools offer one of the industry’s only cloud-based “do-it-yourself” auction platforms

EASY AUCTION CREATION

Easily build standardized auction templates and libraries. Clients maintain control of auction terminologies such as auction types, naming conventions, and display settings.

Easily Target and notify suppliers of relevant Auctions

Built-in outreach tools offer a multitude of options to communicate solicitation information using commodities, categories, diversity, and geographical area.

Leverage Multiple Auction Strategies

During the sourcing event, a variety of current pricing and competitive information can be displayed to participating suppliers encouraging competition. Based on your type of auction, suppliers can be presented with current low pricing information or simply informed if they are the current “best” bidder. Also available are auction preview, reserve pricing display options, bid decrement rules, and automatic auction extension functions that accommodate a variety of sourcing strategies.

Gain Insight into your sourcing data

Being a data-driven solution, our solution is packed with actionable analytics. Leveraging data helps ensure that you are making the best sourcing decision possible and allows you to have confidence in the choices you make. The strategic sourcing data is neatly compiled into easy-to-read reports that can quickly be exported and distributed to key stakeholders.

Solution Overview

POWERFUL TOGETHER AND SEPARATELY

Packed with powerful esourcing tools, Ion Wave’s strategic sourcing software makes it easy for procurement teams to get the most out of their purchasing and spend management. Choose from our suite of products to build the perfect sourcing solution for your team.