eAuctions are procurement tools using online software which allows suppliers to bid for the opportunity to win business being auctioned by an organisation. Suppliers compete with each other by reducing their contract price in order to win the business being offered.
Put simply eAuctions allows buying organisations to identify the lowest sustainable prices that suppliers are willing to accept for their goods and services.
Coding International’s involvement in the eAuction process is key to making sure that the eAuction will be a success. Spend Analysis is crucial to an eAuction to identify which product areas are suitable to be auctioned, and to identify what the current spend on this product area is. Without this information it is impossible to work out how much money has been saved.
Coding International’s expertise in spend analysis can help you with the first part of your eAuction. cloudBuy, Coding International’s parent company, can also help with all aspects eAuctions.
For more information on spend analysis contact Coding International on 023 8055 4111 or for more information on eAuctions visit www.cloudbuy.com.