1 Indian Fortune 500 Companies have one thing in common when it comes to Reverse Auction (RA)
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Transcript of 1 Indian Fortune 500 Companies have one thing in common when it comes to Reverse Auction (RA)
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Total Spend Management Solutions:• Spend Analysis• Category Management• eSourcing
• eTendering• eRFQ• eRFP/RFI• Reverse Auction• Forward Auction
• eProcurement• Contract Management• Supplier Management
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About Us:
A profit making Co. promoted by eProcurement pioneers
India’s First ISO 27001 Co. in spend management domain
Powered by a dedicated team of 300 employees & partners
Preferred Spend mgt. partner of India’s fortune 500 Companies
Pan India Network with Head Office in Ahmedabad, India
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We annually enable Spend in excess of Rs.10,000+ Cr for Govt. & Pvt. Cos.
Our Solutions are built using Free & Open Source software for lower TCO
We offer complete Spend Mgt. tools integrated with ERP & other systems
We comply to IT ACT 2000, CVC, PWD, MDB, World Bank & other guidelines
Our Global support desk offers 24*7 customer support, 365 days
Competitive Advantages
Service offered on SAS Model i.e. Pay/Event Fixed Fee/Yr or Software License Sale
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Our Customers >
Few of our Corporate Customers : ICICI Bank Limited (entire Group) Essar Group Gujarat Gas Limited Cadilla Healthcare Limited Sterlite Technologies Limited Delhi International Airport Limited Acme Tele Power Limited Noida Power Corporation Limited Motherson Sumi Systems Ltd. Maruti Suzuki India Ltd.
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few more Customers >>
Some of our Indian PSU Customers: Bharat Heavy Electrical Limited State Bank of India Union Bank of India Bank of Baroda Kudremukh Iron Ore Company Limited Hindustan Newsprint Limited Mazagon Dockyard Limited Container Corporation of India Limited Bharat Petroleum Corporation Limited Indian Oil Corporation Limited Bank of India
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Reverse Auction (Concept)
Let’s take an example where you intend to buy 10 Wind Turbines & your estimated costs is Rs.300 Mn and for the same you have short listed 4 Bidders.
Let’s keep the auction times as 1 Hour with extention of 5 Minutes, if bids comes in last 5 minutes and decrement value of Rs. 1 Lakh
Decrement Rs. 1 LacStart Price Rs. 300 Lac
Current Rank StatusBidders Last Bid
- NA - - NA -No Bid
- NA - - NA -No Bid
- NA - - NA -No Bid
- NA - - NA -No Bid
Savings -NA - Time Left 60.00 Min
Round0
L1 ReceivedRs. 299 Lac
Rs. 1 Lac 50.00 Min
Round1
L 2Rs. 299 Lac Received
L 1 ReceivedRs. 290 Lac
Rs. 10 Lac 30.00 Min
Round2
L 3 ReceivedRs. 299 Lac
L 2 ReceivedRs. 290 Lac
L 1 ReceivedRs.280 Lac
Rs. 20 Lac 1.00 Min
Round3
Bid has come in Last 1 min, will be extended by 5 Min
L 1 ReceivedRs. 275 Lac
L 3 ReceivedRs. 290 Lac
L 2 ReceivedRs.280 Lac
Rs. 25 Lac 4.00 Min
Round4
Bid has come in Last 1 min, will be extended by 5 Min
L 1 AwardedRs. 275 Lac
L 3 ReceivedRs. 290 Lac
L 2 ReceivedRs.280 Lac
Rs. 25 Lac 0.00 Min
Round5
No Bid received in last 5 min, Auction closed & awarded
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User Management, Roles & Rights Management, Work Flow Module
RFP Module
DashboardMarket Making
RA Engine
Form Manager
Security, CMS, Notification
RFQ ModuleRA Configuration
Reve
rse A
uctio
n M
od
ule
s
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Reverse A
uction Engine
Standard Auction
Rank Auction
Preferential Auction
Transformational Auction
Floor Price Auction
Dutch Auction
Index Auction
Clock Auction
RA
Varia
nts S
up
porte
d
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Open# 1 Auction accessibility Closed
Single# 2 Currency options Multiple
Standalone# 3 Auction staging Serial
Manual# 4 Bid submission options Auto / Proxy
Defined# 5 Start price setting As per 1st Bid
# 6 Bidder mapping options For Line item
PKI Version# 7 Security Options Non PKI Vr.
Allowed# 8 Top Bidders Compete Not Allowed
For an Event
RA Engine Features
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One# 9 Line items/Event Multiple
For event# 10 Bidders Mapping For line item
An event# 11 Closing date can be for Line item
Fixed# 12 Extension allowed Variable
Fixed# 13 Decrement Value Variable
# 14 Decrement can be in As % of Bid
Min. or more # 15 Decrement should be Min. or multiple
Masked# 16 Bidder Name to be Unmasked
As Value
more RA Engine features
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# 1 Dedicated micro website for conducting auctions
# 2 Ability to Block errant bidders from Bidding
# 3 View Live & Offline Bidders during an auction
# 4 Ability to reject bid, to save event from being scrapped
# 5 Ability to flash a message to bidders during live event
# 6 Ability to Pause / cancel an Live event
# 7 Clock showing Current, Lapsed & Left date & time
# 8 Easy to use Graphical User Interface
even more RA features
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# 1 L1, L2, … chart showing last bids of all bidders
# 2 Bid history of all bidders with date & time
# 3 Audit trail report tracking each & every activity
# 4 Details of Bidders along with his contact details
# 5 Auction Summary & Details post auction
# 6 Bidders Login Report & current status (online/offline)
# 7 Graphical representation of auction Progress
# 8 Till date report of Auction Conducted, Savings, etc.
RA MIS Reports
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Existing Manual Process
# 1 Need based procurement
# 2 Closed Group Procurement
# 3 One 2 One Negotiation
# 4 Fewer, Local Suppliers
# 5 Expensive Process
# 6 Prone to manipulation, errors
# 7 Purchase Manger Friendly
Manual Negotiation vs Reverse Auction
Reverse Auction
Strategic Procurement
Open & Transparent Process
One to One Competition
More, Global Suppliers
Process that guarantees ROI
Accurate & Trusted process
Suppliers & Stakeholders Love it
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We enable more RA in India than any of our competitor in terms of Value, etc.
Single RA valuing Rs.380 Crore/ 3.8 Bn successfully enabled for BHEL
Single Event comprising of 67 Vendors & 10 Line items enabled successfully
Global RA supporting 5 different Currencies successfully completed
Single Event lasted for more than 14 Hours, which was planned for just 1 hr
Average saving has been in range of 5 – 20% depending on product auctioned
Our Achievements