Considering a Large Capital Purchase? Consider a Reverse Auction.
Earlier this year, ACC introduced a reverse auction technology tool to allow our clients to get the best pricing possible on large, one-time purchases. Early experiences suggest that new service will be a very popular addition to our many ways to save money.
The reverse auction process is very straight-forward. After providing a discrete number of suppliers with clear specifications for the product or service of interest, interested bidders compete in a live on-line auction that generates a winning bid and bidder in about 30 to 40 minutes. This process is often faster than a traditional bidding process and typically generates substantially better pricing. Best of all for the client, all fees to ACC are paid by the winning bidder; your bottom-line price from the supplier is all you pay.
Thus far, we have used this tool successfully on a large technology purchase and a facility construction project. At present, we are bidding out several vehicles for one of our not-for-profit clients. If your organization is looking for a new approach to large capital purchase, please contact us to discuss how a reverse auction might benefit your organization. We’d love to show you a new way to get a better, faster, cheaper result.