Auction Services
MavenVista ‘Auction + Services’ goes beyond conventional Reverse Auction Services.
We leverage our well-designed algorithm which enriches our insight based on 000’s of auctions carried out by us to determine the most suitable strategy for a category in a given circumstance for the best Price Discovery. This coupled with our Auction Experts and highly proficient Auction Support Team ensures superior hassle-free price discovery resulting in huge savings for our customers.
Challenges Organizations Face about Auctioning Process
- Challenge in building Auctioning Strategy skills and retaining the same
- Risk of complacency in the design of Auction strategy as it becomes a routine process
- Lack of access to different auctioning strategies adopted across different industries
- Significant investment of time for creating pre-auction data and translating auction results into a contract
- Absence of structured training and support process for suppliers
- Non-availability of benchmark data for designing most appropriate auctioning strategy
BENEFITS of MavenVista Auction Services
- Huge Savings due to superior design & management of Auctions.
- Significant Savings of Time of organizational resources from managing auctions.
- High comfort & confidence in suppliers due to assured fairness of the third-party Auctioneer.
- Superior Supplier participation due to excellent handholding by professional auction trainers.
- Mitigation of risk of complacency as our business model is aligned with your savings.
- Comprehensive reporting of every auction and consolidated report every month for formulating future strategize
Our Auctioning Process
Step 1
Gathering Pre-requisites for conducting the Auction.
Step 2
Design of strategy for a highly competitive bidding environment by ‘Auction Experts’ (AE).
Step 3
High supplier participation through well-structured training by ‘professional trainers’ (PT).
Step 4
Conducting Live Auctions through synchronized efforts of ‘AE’ and ‘PT’.
Step 5
Reports and Analysis for Future Strategy and Audit Compliance.
Testimonial
Customers Success Stories
Parle Products Private Limited
‘’Based on our experience we recommend Auction Services offered by MavenVista to organizations willing to go thru transparent price discovery process as it is expected to generate reasonable savings & establishes fairness in the process of awarding a contract’’
Diversey Holdings, Ltd.
‘’We acknowledge our over whelming satisfaction pertaining to `VENDX Auction Services’ delivered by MavenVista & would highly recommend VENDX as a trusted & highly competent tool to anyone looking for a better price discovery’’
Geradu
‘’We have carried out Auctions in various categories of spend ranging from Raw Materials , IT Purchases .MRO and service related procurement.We & our suppliers have found the entire experience transparent and we are happy to recommend the Auctioning Services of MavenVista for any organization who wishes to opt for result oriented & hassle free Auction Services.’’
Mahle
‘’Our experience of VENDX Auctions has been highly satisfactory & coupled with very competent auctioning team. It is a highly user friendly tool. We have been able to generate good savings in the category of indirect Materials.’’
IndiaFirst
‘’Our experience so far has resulted into more competitive prices thru VENDX Auction Services compared to established market places like Amazon, Flipkart and many others.We are very impressed with the skills of the Auction Experts who design most apt auctioning strategies, and with their proficient trainers very efficiently manage the entire auctioning event which has resulted into huge savings for our organization.’’
Dr. Lal PathLabs Limited
‘’Hereby, Dr. Lal Pathlab have reviewed the features & functions for the RFQ to DA and Auction modules and agree that they are appropriate to our business area and attest that RFQ to DA and Auction modules was able to perform all the expected job function tasks and activities normally.’’
Brandix
‘’In order to have best price discovery for our critical spend we were recommended by Accenture the name of M/S MavenVista Technologies Pvt Ltd to carry out reverse auctions.What we have realized that right technology when it is blended with excellent support services can generate huge savings thru most fair, competitive and transparent auctioning environment if it is strategically leveraged. ’’
Case
Studies
Digitization Success Stories
Read about challenges we addressed for our customers and the benefits accrued by them
