eAuction Software
Increase Supplier Competition & Savings
Deploy different negotiation strategies to increase supplier competition, gain competitive advantage, and remove time-consuming, error-prone individual negotiations when using Scanmarket’s eAuction software
Built to Be Used
Electronic auction software doesn't generate value unless it is adopted by its intended users.
With the user at the center of everything, Scanmarket by Unit4 provides advanced functionality purposely built for the end-user in an effortless experience. Secure fast and broad adoption with a high level of agility.
Multiple Auction Types
Different auction strategies require different auction types. Utilize the different auction types including Japanese, Dutch, Reverse and Forward to achieve your specific goals.
Configurable Bidding Rules
Deploy numerous, configurable bidding rules to match the event to the situation including bid parameters, individual starting prices, blind.
Consulting Services
eRFx bids can be transferred into eAuction opening bids. There are additional flexible services that can help support your execution.
A Powerful eAuction Solution
Streamline your negotiation processes and reduce cycle times by 50%.
Negotiate with more prospective suppliers in a structured process that removes the need for time-consuming individual discussions. Scanmarket delivers negotiation and process transparency, making it easier to compare potential suppliers and ultimately reducing the final price.
An Auction Platform can help you transform a traditional 3-4 week negotiation process with 4 suppliers into a fast and dynamic negotiation completed within 1 hour. This means 20+ rounds completed with 10-20 suppliers. Truly efficient purchasing software for all involved stakeholders.
Integrates with industry applications
Integrate with what you know and already use.
Scanmarket integrates with leading technology solutions to create an effortless experience for the end user.
Key eAuction Functionalities
Savings
Drive down bids in the highly supplier competitive environment of an eAuction.
Negotiation
Complete negotiations in an hour versus days or weeks. Enact even more efficiencies with pre-built eAuction templates for quick deployment, automated bid analysis, and automated reporting.
Evaluation
Evaluate suppliers on best overall value and total cost of ownership rather than item price alone. Additional factors to be considered in the real-time bid calculation may be switching costs, delivery and payment terms, and product or service quality differentials.
Market Transparency
Understand the true market value of the products or services with comprehensive negotiations.
Multiple Types
- Manage assets with confidence across businesses, countries, and currencies with full control over capitalization, disposal and depreciation.
- Use automation to reduce the time your people spend on admin tasks such as depreciation processing.
- Integrate asset tracking with accounting, procurement and other financial functions for full financial control and visibility.
Process Transparency
Secure visibility throughout the Source-to-Contract process by focusing on data, not relationships. Minimize all conflicts of interest and eliminate the risk of fraud or bribery.
Supplier Credibility
Build sustainable and symbiotic relationships with suppliers through full process and selection transparency. Reduce opportunities for biased decision-making and treat all suppliers equally.
Process Documentation
Ensure transparency with full access to historic activities, strategy, decisions, and results with process automation.
Templates
Reuse processes and templates to save time and standardize negotiations across the organization.
Stakeholder Communication
Increase internal stakeholder involvement with visibility to communication, documentation exchanges and historical activity from the shared repository.
500+ Happy Customers
Scanmarket’s software is built to make S2C management as simple as it should be.
But Don't Just Take Our Word for It
The Benefits of Using Scanmarket eAuction
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Quickly determine the true market price
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13-17% average savings vs. current pricing
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Streamlined negotiation processes reduce cycle times by 50%
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Easy to use for bidders and stakeholders with no usernames/passwords required
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Provide transparency and “apples-to-apples” comparison for bidding companies
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46% increase in reuse of standard templates
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2.4 - 2.7x more cost savings on spend sourced through eAuction tools
Challenges Scanmarket eAuction Solves
Inefficient manual processes
Automate repetitive tasks, like sharing information with suppliers, evaluate bid and analyze data.
Lack of communication
Notify suppliers and stakeholders about the upcoming eAuction, train suppliers prior to the eAuction and communicate with suppliers during and after the eAuction.
Risk of fraud or bribery
Enable complete visibility to all steps and decisions in the S2C process by focusing on data, not relationships, removing all conflicts of interest and eliminating any risk of fraud or bribery.
Time spent on preparation
Set up and reuse standard templates.
Unable to compare supplier bids
Manage bids automatically and monitor the eAuction.
How Much Does Scanmarket Cost?
Companies of every size and type, from medium-sized manufacturing businesses to enterprise-level service organizations have made the move to Scanmarket. Looking for a better way to run your source-to-contract processes but wondering about the cost?
Users subscribe to Scanmarket for an annual license fee. Your license is made up of three main components: core platform, optional modules and the number of users. There is also a one-time implementation fee for the initial setup. As your business grows, you can easily activate new modules and add users — that’s the beauty of cloud software.
24/5 customer support is included with the Scanmarket platform license.
Resources
Customer Stories
Spark ideas with success stories from Scanmarket customers:
Guides & Blogs
Deep-dive into topics around procurement, strategic sourcing and Scanmarket:
Q3 2023 eAuction Savings Report
Essential Learning
Discover best practices and learn more about strategic sourcing:
Whitepaper - Choosing the Right eAuction Format: Reverse, Dutch, or Japanese
Frequently Asked Questions
What can you purchase using eAuction software?
There are very few limitations when it comes to which products and services can be negotiated via e-auction tools. We recommend considering the areas below when evaluating if a category is suitable for use with auction software on your procurement efforts.
- Spend - Is the contract's size significant enough to generate supplier interest and prompt competition through procurement bidding
- Specification - For auction software to be effective, specifications should be clearly written and unambiguous. This ensures that the suppliers know what they are bidding for.
- Suppliers - Are there enough suppliers in the marketplace to compete for a contract? The more suppliers you have, the more bids will be generated during the auction, and the better the savings you will achieve.
- Supply - Is the market supply competitive and with surplus capacity?
If you would like to know what others are auctioning when using strategic sourcing tools, check out our 2022 Global eAuction Index.
How much efficiency can you gain in your contract negotiation?
On average an electronic procurement auction runs for less than one hour, cutting out days or weeks from the traditional one-on-one negotiation cycle time. Copy and re-run e-auctions with prebuilt templates, and automate bid analysis and reporting.
This process optimization also allows you to optimize the strengths and skills within your procurement team by automating administrative tasks and saving time with prebuilt templates, dashboards, and reports.
Which auction types do you support on your procurement tool?
Scanmarket supports the following eAuction types & templates:
- Japanese
- Dutch
- List
- Cherry Picking
- CherryLot™
It is important to have multiple auction types to choose from in order to design the best possible e-auction process.
The most used type of e-auction by our customers is Reverse Auction. 80% of all the auctions we see are Reverse Auctions:
- 58% Cherry Picking Auctions
- 16% List Auctions
- 6% CherryLot Auctions
The remaining use of e-auction types are:
- 2.5% CherryDutch Auctions
- 1.15% Japanese Auctions
- 2.5% Forward Auctions
Which type of support do you provide?
We provide 24/5 Quick Call support for your internal users and suppliers.
Quick Call support is not like your typical support desk. With Scanmarket, you have direct access to our global team of expert source-to-contract consultants who can resolve your issues rapidly. We often hear from our customers that Scanmarket's Quick Call support is the best in the industry.
Quick Call support is available to customers, suppliers, and other stakeholders. 85% of Quick Calls are answered in less than a minute, and 95% are answered within five minutes.
