Save €€€ With Reverse Auctions 1 Buyer + Many Suppliers + Interactive Bidding = Reduced Purchasing Costs and Streamlined Procurement Online reverse auctions are an ideal way for you to reduce purchasing costs and streamline procurement when purchasing capital equipment, materials and services from your suppliers locally or around the world. What ever you buy, you can add to a reverse auction. Think of it as eBay in reverse! How do online reverse auctions work? You initiate the auction by sending out purchasing specifications to your listed suppliers via RFQxpert email, you invite your suppliers to attend for auction. The email has all the details regarding what you want to buy. Suppliers compete against each other in Web-based, real-time auctions to win your business, driving down the price in the process! RFQxpert comprehensive reverse auction solutions use a hosted, Web-based interface to facilitate online negotiations without time-consuming or expensive technology integration. Buyer Benefits Save Money: Competitive bidding drives down purchasing costs for capital equipment, materials and services. Save Time: Stop waiting weeks or months for suppliers to submit bids. RFQxpert auction services streamline the purchasing process by compressing the bidding cycle to hours, allowing your organization to move forward immediately with its procurement goals. Expand Your Supplier Pool: RFQxpert reverse auctions can help you expand your access to high-quality local, national and global suppliers. Get Started Quickly: With RFQxpert Web-based auctions there's no special hardware or software to install, so setup is fast and easy. And because the auction software is easy to use, participants can be trained quickly and thoroughly. Eliminate Security Risks: RFQxpert utilizes the latest security measures to protect your confidential information. Rely On Our Expertise: RFQxpert procurement specialists are always available by phone, fax or e-mail to provide technical support and answer any questions about RFQxpert services. Supplier Benefits Uncover New Business Opportunities: Once your suppliers register as an RFQxpert supplier, they will be eligible to participate in your future auctions. Level the Playing Field: Reverse auctions allow your suppliers to see what other bidders are offering, so they have a clearer understanding of what the market price is and can compete more effectively for the business. The end result is a lower price to you! Bid Quickly and Easily: RFQxpert's efficient, Web-based interface makes it easy for your suppliers to bid interactively. Eliminate Security Risks: While suppliers can see what their competitors are offering, company names are cloaked to protect confidentiality. As added assurance, RFQxpert utilizes the latest security measures to protect your confidential information. Rely On Our Expertise: RFQxpert procurement specialists are always available by phone, fax or e-mail to provide technical support and to answer any questions about RFQxpert services. Service Flexibility RFQxpert procurement specialists can provide full-service solutions to guide you through the entire purchasing process-developing and managing purchasing specifications, facilitating online negotiations and analyzing results. Or, you can choose to manage the entire process yourself!! Regardless of which service model you choose, RFQxpert specialists can provide expert training to ensure that every auction is a complete success.