BusinessBid is a robust e-procurement system for your business. Convenient requisitioning, strategic sourcing and automated purchasing, All in one place.
The Reverse Auction is an essential part of business-to-business procurement. It is a type of auction where the auction procedure gets reversed and the supplier with the least quotation wins the project supply for items or services.
RA is carried out for the purchase of raw materials, processed goods, project’s essential components and different type of services. Reverse Auction works best when it comes down to the price negotiation between the suppliers and thus, we have clear comparison of the bids that results in quick and better decision making.