10.765 eAuctions

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e-Auctions with cosmoONE’s platform

INTRODUCTION TO e-AUCTIONS

Α. AUCTIONS WITH SOLE CRITERIA THE PRICES, AS SUBMITTED BY THE SUPPLIERS

Α1. English Auction

 

Winner with the absolute best price, no ties.

Α2. Multi Variable Bidding Auction (MVB)

Winner for the best overall result of individual prices.

Α3. Net Present Value Auction (NPV)

Winner for the best Net Present Value.

Β. AUCTIONS WITH CRITERIA THE PRICE SUBMITTED BY THE SUPPLIER,
THE RANKING AND POSSIBLE CHARGES IMPOSED BY THE BUYER

Β1. Weighted Auction

Price weighting.
Winner for the best sum of supplier price
and buyer surcharge
.

Β2. Weighted Auction

Weighting in terms of Price/Performance.

Winner in optimal
Cost/Performance Score ratio.

Β3. Comparative Auction

Comparison of technical scores and prices
with weighting factors
for the best result.

C. AUCTIONS FOR MULTIPLE WINNERS WITH BEST PRICE,
QUANTITY AND TIME RULES

C1. Dynamic Auction

Winners based on ranking
with the possibility of ties.

C2. Yankee Auction

Winners based on the price
and bid quantity.

C3. Dutch Auction

Winners based on the price and quantity, progressively deducted during the auction.

Read more about the e-Auction Types by visiting the Library

FAST AND IN BEST PRICE

In just 30', you get the best price of the market.

ADVANTAGE IN NEGOTIATION

auctionONE platform supports and satisfies every need and every trading possibility with your Suppliers.

CHOICE BETWEEN TYPES OF AUCTIONS

Design the competitive bidding process based on your requirements, and we will suggest the most suitable Auction Type to implement it.

SIGNIFICANT REDUCTION OF EXPENDITURE

Save, in an inviolable way, about 14% of your budgeted costs for purchases of goods and services, which otherwise you would declare as expenses.

Beyond the limits of time

The existence of the Internet has dramatically changed the process of searching for the best price. Today, you can seek for the ”best price” in ”real time” and without geographical boundaries, for many goods and services, due to the low cost of e-Auctions use and the absence of the need to meet and personally negotiate with the Suppliers.

Achieve your goal

 

e-Auctions give you the opportunity for the best possible result, which is based not only on the “best price” but also on other factors, such as quality, ranking, payment terms, quantity, and other criteria. And this is done by choosing the appropriate e-Auction type.

Reduce the supply cost

You can achieve, with absolute transparency, the creation of a competitive environment that produces the best possible result. Purchases of standard or non-standard products and goods, project auctions and service procurement can be done while reducing costs through online trading between your Suppliers. Everything that can be financially measured and captured, can also be traded through the e-Auctions.

Icrease your income

Now, the sale of useless or unused material, the sale of surplus and used items, the leasing of services, the sales and the auctions, bring more income to your coffers, than you would have achieved with traditional means and procedures. Give potential buyers, resellers and investors the opportunity to claim your sale by improving prices through a clear process.

What your Suppliers want meets what you are looking for

e-Auctions give every Supplier the opportunity to come back with a better offer. Thus, it can constantly claim the supply from his competitors, improving his prices based on the information teceived from the e-Auction system in real time. And of course, not only he wins from the lowest price, but you too!

Equal treatment for all the participants

The way in which the e-Auctions are conducted leaves no room for complaints of unequal treatment of Suppliers. auctionONE manages, based on specific rules, all bids equally, and the results are recorded in an automatically generated report. The transparency as well as the integrity of the process also strengthens the organizer position against the internal auditing to certify the integrity of the procedures for allocating corporate resources.

READ MORE

 

e-Auction Types

English – The absolute best price wins.
A price is given for the total quantity and the lowest price wins. There are no draws.

 

Dynamic – Selection of winner or winners among the best bids of each participant, depending on their ranking
The participants try to occupy one of the first places that gives “partial win”.

 

MVB – Combinarion of  values (prices) and common variables based on a mathematical equation.
The best overall result of the mathematical formula wins. Participants give prices for each item on the supply list and the system automatically adds up the final total.

 

Weighted – Mathematical formula with different coefficients per participant.
The best result Σ of the mathematical formula Σi=ai+bi*Ki/Ti wins. An online calculation of the best Cost / Ranking result is made taking into account fixed costs and scores (ranking).

 

ComparativeIn each offer, its rating is compared online in terms of the highest score among all offers, and its price in terms of the current lowest price. The lowest financial offer affects the evaluation of all participants, while the mathematical formula Σi=a*Ti/Tmax+b*Kmin/Ki also uses the weighting factors for the technical and financial comparison.

 

Dutch For purchases and sales of a large number of similar products. A quantity is submitted at the current price which is automatically changed by the system at a specific time step. The quantity is awarded directly to the participant who submitted it and is no longer negotiable.

 

YankeeFor purchases and sales of a large number of similar products with restrictions on the price or quantity that one can commit. In each price and quantity submission, a classification and temporary commitment is made, and in the end the system definitively distributes the available quantity according to 1) the best price, 2) the best quantity, and 3) the earliest bidding time.

 

Net Prestent Value – Reduction of total costs to present value.
The participants have the right to adjust the financial prices throughout the supply schedule, so that the best present value is obtained by reducing prices according to a fixed rate for all.

 

Open – Submission of bids without any rule.
The best price among the last accepted offers of each participant wins. The participants take care of maintaining a competitive price based on the current conditions.

 

Sealed – Closed Tender with the possibility of submittining a single offer.
It is a simulation of a closed folder process that can unfold in rounds.

Frequent questions and answers
  1. Why not negotiate with my Suppliers and use an e-Auction instead?

Because personal negotiation is not as effective as the trading between your own Suppliers, who may have other goals that are completely unknown or indifferent to you, such as market share or even returns from the manufacturer by achieving a sales goal (rebate). Also, the personal negotiation needs preparation, time and usually the presence of others, while the electronic one is done without your intervention and you can, if you want, watch it via the Internet.

 

  1. If I don’t have many Suppliers but just two, can I organize an e-Auction?

Of course, because e-Auction creates conditions of competition, and the possibility of submitting multiple bids creates many “virtual suppliers”, which is completely impossible with the traditional method of bidding in a sealed envelope.

 

  1. Can we conduct e-Auctions when the criterion is not only the price but also the quality or the technical characteristics?

Certainly, it is enough to have the ranking of the quality evaluation of each offer and the way-type of correlation of the rankng with the price. The comparison is made online in e-Auction system.

 

  1. What happens in cases that the Suppliers deliver the goods to our warehouses and other to their premises or elsewhere?

And this case is satisfied through a specific type of auction that “burdens” with the respective fixed shipping costs the successive offers of the Suppliers through the e-Auction system.

 

  1. How can I compare the financial offers when my Suppliers suggest different payment schedules than the ones I consider?

In these cases, we use the e-Auction type based on the best Net Present Value. Thus, you can compare not only the purchase cost with the inclusion of different payment schedules, but also the total cost of ownership, taking into account for the coming years, the costs of maintenance and support of your equipment.

 

  1. If I request a set of items/goods, can I have an idea of the price given by each Supplier to me through the e-Auction?

Of course, by using the Multi Variable Bidding Auction as the most appropriate type, where the unit price is submitted for each item, the system calculates the final total online by multiplying the unit prices by the corresponding quantities and summing the individual products.

 

  1. My Suppliers (say that) don’t have Internet special knowledge in using it. What can I do in that case?

Today, all your Suppliers, companies or entrepreneurs submit their tax declaration electronically, so either they or their accountant has access to the Internet. Special knowledge to give your price on a computer screen, is not required. In addition, the e-Auction service provider will educate the Suppliers, will answer any questions and solve any problems in the educational auction that precedes the regular one.

 

  1. And what if a Supplier does not agree to participate in the e-Auction?

He has to agree, because this is your process and if he does not follow it, he has no hope of bidding otherwise. But the best reason for him to take part in the auction, is that he can give again, if he wants, a better offer, in case the previous one he submitted is not competitive enough having the risk of losing. This chance is not offered in the case of closed envelopes auction where he practically relies on luck and has no ability of biding with his competitors. Ultimately, he can only offer one bid through the system and log off.

 

  1. That is, does each Supplier view the offers of his competirors?

Not necessarily. He sees what you will allow him to see, and it is common for each Vendor to see his ranking (1st, 2nd, etc.), without knowing the best price, nor who has submitted it. Thus, on the one hand, price confidentiality is maintained, and on the other hand, the process becomes competitive.

 

  1. And I as an organizer, what do I see?

You can see everything, i.e., company name, prices and submission time for all Suppliers. In some cases, if required by your company’s procurement regulations, the Tender Committee does not see company names during the e-Auction, but only prices, so that the anonymity of the participants is completely preserved.

 

  1. How long does it take to prepare an e-Auction?

As a rule, one week from the moment you already have the list of the candidates participating in the auction, i.e., those Suppliers for whom the last selection criterion is the prices.This time is sufficient for the registration, training and participation in the trial auction of all invited Suppliers.

 

  1. If I am a public sector organization can I conduct e-Auctions?

Certainly, but you should know that there are specific rules of conduct that are defined by the country Legislative Framework Law (the Law 4412/16 in Greece).

Examples of e-Auctions use

Auctions for GOODS

Office supplies, food, IT equipment, consumables, furniture, medical equipment, telecommunications infrastructure, raw materials, energy and fuel, real estate, cars, etc.

Auctions for SERVICES

Staff transport, courier services, security services, dismantling, storage, advertising, insurance contracts, etc.

Auctions for PROJECTS

Construction and reconstruction of buildings, maintenance and renovation, road construction contracts, integrated IT and infrastructure projects, etc.

Statistics

Detailed e-Auctions statstics by supply category.

THE IMMEDIATE BENEFITS FOR YOUR ORGANIZATION

COST REDUCTION

from the possibility of submitting new improved prices by the participating candidate suppliers.

LESS BUREAUCRACY

from the reduction of objection procedures after the electronic submission of financial bids.

TIME SAVING

since the personal presence of the executives in the financial negotiation is not required.

TRANSPARENCY

since the access to the information by the participants in the claim of the supply is done with the same, inviolable for all terms.

EXCLUSIVELY THROUGH THE INTERNET

does not require the purchase of special software or hardware and the contribution of your company’s IT support.

EFFICIENCY

since it is possible to repeat a similar auction scenario with minimal cost and in very short time.

10.765

e-Auctions

5.758.118.932

Total budget €

924.308.709

Saving €

REVERSED e-AUCTIONS

Recommended for any cases of goods or services purchase, the evaluation of which can be precisely specified. Its goal is to achieve the best value that results, either as a lower numerical value, or with a combination of appropriate parameters, such as technical evaluation and rating. The use of e-Auctions does not negate the obligation of a proper procedure for drafting specifications and a way of evaluation.

FORWARD e-AUCTIONS

Ideal for cases of sales of one or distinct same or different items in large quantity. The goal of the e-Auction can be the achievement of the best selling price, or the distribution of the total quantity among many interested parties, under specific rules. It can also be used to explore the market by offering a number of packages that combine different types and services.

Want to learn more about e-Auctions?