Dutch & Reverse Auction Script Software
Downward price auction where a seller, to seal a deal, gradually cuts a price Buyers in real-time witness competing suppliers lower prices. When a buyer is content with a price, they confirm the order. Partake may be public or private, free or fee-based.
The Merkeleon platform provides multiple options for reverse auction customization and adaptation to your business process. Using this reverse auction software, you can run any type of online bidding website, like an auction for buying/selling, bidding for the best price, a regular Dutch auction, a system with multiple designs of reverse auctions, etc.
Why choose Merkeleon?
The Merkeleon team constantly builds up experience and eagerly shares it with customers providing systematic updates and new solutions. The long-term prolific collaboration and thriving relations are the integral components we value in our business operations.
All in 1 Solution
The goal of this digital auction is to scale up profit for entrepreneurs and offer cost-efficient goods and services for buyers. It is a splendid system that promptly attracts emergent customers and consequent income. With this user-friendly interface, you get a flexible and convenient management platform that enables a smooth flow of auctions and deals. Moreover, you will have
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Platform for various reverse auction modes
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Multiple payment methods
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Absolute confidentiality for bidders
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Data import and export
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Elaborate marketing inventory
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Reserve price option
Reverse auction presentation & Demo
General Features
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Unlimited number of users and products
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Email and SMS notifications
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Flexible fee settings
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Multiple kinds of reverse auction software
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Integration with payment and analytics systems
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In-build commentable auction blog
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Multilingual interface
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Finance management
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Data export and import
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Login via social networks
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Overt/covert participant list
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Fiat and cryptocurrency
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Mobile-friendly
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Integrated CRM and reporting system
Types of reverse auction
Auction websites gain more popularity every year. The sooner you realize their advantageous nature, the more prosperous your business will become because your competitors will stay behind. Today we provide many options to create an attractive website for a bidding auction based on the reverse variety.
Procedure
Purchasing products/services
One buyer - many suppliers who offer their items. The buyer picks the winning offer directly.
Selling products/services
One supplier - many buyers who bid to obtain goods. The highest bid wins.
Visibility
Visible
All bids are revealed, but their holders remain anonymous.
Invisible
Only an auction holder, or a buyer in a reverse platform, knows all bids. A winner is chosen manually. A supplier can see their rate to the winning position.
Supplier’s admission
Free
Any supplier can register and attend procurement bidding.
Moderated
procurers undergo preliminary pre-screening and approval.
Limited:
no one but invited providers can partake in an auction.
Estimate
Best price
The highest bid wins.
Best value
The bid with the most favourable terms for a buyer wins.
FAQ
We anticipate your possible requests for additional information about a reverse auction to zestfully respond to your inquiries.
Just like at offline auctions, there are sellers, bidders, winners, and losers. Before using such websites, visitors should sign up. Bidding is often time-limited and closes at its expiration. In most cases, it is free to bid, that is, only if a bidder wins, the provider will contact the winner for payment arrangements. Still, some types of auctions require paying beforehand.
There are multiple types of auctions where you can hold sales. In this regard, online auctions are more flexible. You do not need to constantly monitor the flow. You simply check the maximum bid in the end. Online auctions have redefined shopping sales and become a better way to reach clients.
Each country has its legislation concerning this aspect. To get comprehensive information on this matter, you can contact the Merkeleon team, and our legal experts will surely guide you on your country’s jurisdiction in virtual biddings.
It plays no role as far as the quality is preserved. Yet still, newly-made software usually requires more launch time because certain adjustments should be made and some bugs fixed. The Merkeleon product for a reverse auction comprises 10 years of experience; it is easily modifiable, thus resulting in time and money savings.
This model is convenient and efficient in the electronic trading of those assets whose market price is undetermined. Besides, it is also suitable for selling low-demand products.
At first, an owner sets a price and number of reduction stages. Then, the start date is announced when buyers can bid. Eventually, biddings and price cuts take place, after which a winner is identified.
In this auction, the price declines so its purpose is reversed compared to more traditional auctions: to obtain more goods at the lowest price. The reverse bidding process is dynamic; suppliers compete for a contract, offering alternatives and competing with one another. A reverse auction is a top-notch method for sourcing goods and services.
Types of reverse auction available
Depending on procedure
Auction to buy product/service
Buyers get price offers from the suppliers according to the product/service requirements.
The winner is chosen manually by the buyer.
Auction to sell product/service
Sellers get different price offers from the buyers. Usually the winner is the one who offers the highest price for the product.
Depending on winner evaluation criteria
Best price auction
The most preferable price is considered as the winning bid.
Best value auction T
he winning bid is the one providing the most favourable conditions for the buyer.
Depending on supplier visibility
Visible price auction
Bid prices are known by all the participants but the identity of the other bidders is unknown.
Invisible price auction
Bids are hidden for all participants except the buyer; the winner is chosen manually by the buyer at the end of the auction. Suppliers are only aware of where they are in relation to the “winner”.
Depending on suppliers permissions
Free access
Any supplier can register at an auction and take part in the bidding process.
Moderation or limited access
1. Suppliers are pre-screened and approved before the auction.
2.Only invited suppliers can take part in the auction.
Why are reverse auctions so popular?
Quick audience growth
Internet communication growth will pursue reverse auction script development attracting more and more participants. This is an opportunity to have a great number of both buyers and suppliers at once.
Supply chain creation
Reverse auction is the evolution of the supply chain. It provides the most rapid way to get a profitable offer from the best suppliers
So why not create your own?
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