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
Gathering Pre-requisites for conducting the Auction.
Design of strategy for a highly competitive bidding environment by ‘Auction Experts’ (AE).
High supplier participation through well-structured training by ‘professional trainers’ (PT).
Conducting Live Auctions through synchronized efforts of ‘AE’ and ‘PT’.
Reports and Analysis for Future Strategy and Audit Compliance.
Customers Success Stories
Jubilant Life Sciences
‘’VENDX/ ej- buy, the e-procurement platform of MavenVista is the most critical system of our procurement landscape. With VENDX we are able to have complete visibility of our sourcing process & establish knowledge redundancy’’
Intas Pharmaceuticals Ltd
‘’We are happy to mention that MavenVista has successfully integrated its comprehensive e-sourcing solution, VENDX with SAP version ECC 6.0 @Intas Pharmaceuticals Ltd.’’
‘’The usability of the platform and support received from MavenVista team has been excellent. They have demonstrated thorough professionalism and have understood requirements delivering a successful solution desired by GHCL.’’
Aarti Industries Limited
‘’We are happy to note that post evaluation of leading e-procurement platforms, we have implemented VENDX, the solution offered by MavenVista. MavenVista has demonstrated thorough professionalism & detailed understanding of our requirements & delivered successfully the solution desired by us.’’
‘’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.’’
Havmor Ice Cream
‘’MavenVista as an organization has total customer orientation. The team is transparent, committed & highly service oriented to bring success for its customers and exceed expectations’’
‘’We are pleased to mention that we have successfully completed integration of VENDX & SAP. The above integration is extensively tested by our IT team & we have found our dealings with MavenVista team very satisfactory & we appreciate their technical competence and thorough professionalism.’’
‘’We have conducted more than 500 auctions using VENDX Auction Engine. It has been the experience of us & our suppliers, that VENDX Auction platform is very easy to use. MavenVista support team is excellent in all aspects of support, which helped us to seamlessly conduct auctions across different direct and indirect categories.’’
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’’
Jubilant Agri and Consumer Products
‘’We wish to reflect that we & our suppliers have found the system very user friendly. With exceptionally high quality of customer support, we were able to ensure deployment of the platform in no time to quickly reap its benefits’’
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’’
Gokul Agro Resources Ltd
‘’I wish also mention here about the exceptional support we have received for faster adoption of VENDX RFQ & Auction engine among the users. We have found the UI highly user friendly and intuitive. In all we would only reflect that Maven Vista offers one of the best experiences of a SW vendor with comprehensive functionalities of the VENDX SW and excellent service standards of their support & implementation team.’’
‘’Our experience with MavenVista team & VENDX Auction platform has been very satisfying in all aspects. This has resulted into superior price discovery leading to cost reduction’’
‘’We appreciate the professionalism and dedication of MavenVista Team and would highly recommend VENDX as a trusted tool to anyone looking for a better price discovery for their procurement processes.’’
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.’’
Orchids the International School
‘’This is to certify that MavenVista technologies has successfully installed and implemented VENDX SaaS procurement tool for Orchids the International School within stipulated time frame.The project has been completed in accordance with the purchase order placed on them and is working satisfactorily and we are glad to provide them with this project completion certificate.PROJECT NAMEVendx Auction implementation.PROJECT DESCRIPTIONImplementation of VENDX SaaS procurement tool from Offline negotiation to Online Auction module.Project begin date: 27th September, 2021Project Go Live date: 1" October, 2021’’
Galaxy Surfactants Limited
‘’VENDX Transaction and Auction tool has bought tremendous convenience in terms of simplifying our entire bids evaluation process and bought complete transparency in our decision-making process for ensuring best compliance standards.’’
Granules India Limited
‘’Hereby, Granules India Limited have reviewed the features and functions for the PR to DA and agree that they are appropriate to our business area and attest that Granules India Limited was able to perform all the expected job function tasks and activities normally.’’
‘’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.’’
‘’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. ’’
E.I.Dupont India Ltd.
‘’Dupont, is pleasantly surprised with the quality of 'Survey Report' provided byEbizchem Team for our Sourcing plan related to India.Most importantly, I must commend each member of Ebizchem Team for the dedicated and highly impressive efforts provided by them.’’
‘’The expert team at MavenVista strived hard to understand our requirements and devised auction strategies that were most appropriate for the respective categories and markets. The seamless execution of the auction events by your proficient team members ensured success every time. ’’
‘’We are remarkably entranced with the cleaned mastery and commitment of the MavenVista Team and would, without so much as a second thought, suggest the associations of MavenVista and the VENDX instrument to anybody searching for reasonable endeavor resources and collaboration practicality in FMCG industry.’’
‘’We have implemented PR to Payment landscape of VENDX duly integrated with our SAP. All integration points are extensively tested by our IT team. It was a very good experience to work with MavenVista team’’
‘’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.’’
IndiaFirst Life Insurance Co. Ltd
‘’VENDX is easy to implement and adopt. Even our suppliers find it easy to use the tool. Online submission of quotations by our vendors is on an average 96%. These online quotes are then automatically compared for calculation of landed cost on VENDX.’’
Bayer CropScience LLC
‘’The Baybuy (VENDX) platform has been instrumental in achieving significant time savings (approx. 60%) in transactional procurement process. We appreciate the understanding of VENDX team in understanding our business processes & delivering the solution as per our requirements.’’
Digitization Success Stories
Read about challenges we addressed for our customers and the benefits accrued by them