How much will it cost to build online reverse auction platform?

Online reverse auctions are increasingly being used in industrial sourcing activities. This phenomenon represents a novel emerging area of inquiry with significant implications for sourcing strategies.

"Buying Made Simple" by reverse auction.

What Is The Fuel For Online Auction?

Reverse auctions gained popularity with the emergence of internet-based online auction tools that enabled multiple sellers to connect with a buyer on a real-time basis. Today, reverse auctions are used by large corporations and government entities as a competitive procurement method for raw materials supplies, product supplies and services like accounting and customer service.

Benefits of online reverse auction platform

Save time

Reverse auctions are amazingly quick and save time researching market.

Avoiding wastage of time and resources

The buyer puts forth his requirements thus avoiding wastage of time and resources from either side.

Compare products

The buyer can easily compare products and decide on the perfect fit.

Buyer gets the best price

The buyer gets the best price for the product.

Sell product/services

The seller does not need to create a shop to sell their product/services.

Connect buyer and seller in real time

Online portals are able to connect buyers and sellers in real time.