eAuction

eAuctions, short for electronic auctions, revolutionize procurement by offering a dynamic online platform for negotiating and determining market prices for specific items. Participants in eAuctions set individual price limits, and the process is conducted in real-time, enhancing transparency and competitiveness.

The purchasing department can leverage various auction types within eAuctions, including English, Dutch, First-price sealed-bid, and Japanese auctions. Each auction type brings unique advantages, providing flexibility for procurement teams to tailor their approach based on specific requirements.

Learn more about Ivalua's eProcurement Software Solutions.