Reverse Auction System

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Reverse Auction System


Until now reverse auction was a considered a costly affair and companies use to prefer reverse auction services, only for specific procurements above certain value. NeoQuant has brought the capability of conducting a reverse auction at a very affordable thus helping you get the best prices and complete transparency in your procurement process.

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Key Advantage of a Reverse Auction System

  • Transparency in the system
  • Reducing the cases of bias & power to influence decisions
  • Bringing better competition and best price discovery
  • To overcome Geographical Limitation in participation
  • To Reduce cycle time of price negotiation & procurement process.
  • To have a system driven approach that keeps track of your procurement process and provides data for audits and other reporting

For More information contact our sales team at info neoquant

System Features


  • Comprehensive Admin Dashboard for Vendor Managment
  • User Management (Vendor creation, Vendor Groups and Authorisation)
  • View/Edit/Delete Members
  • Possibility to have multiple administrators
  • Set date / currency format for the site
  • Configure Premium for perfered Vendors
  • View all Auctions
  • Add/edit/remove Auctions
  • Add/edit/ delete categories
  • Manage static pages
  • Set Auction Parameters as per the product



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