eAuctions

Benefits

eAuctions offer efficient, open and transparent negotiations as part of a full procurement process. This means that the time needed to carry out competitive negotiations are reduced as it starts at or near the market price. eAuctions may either be structured around lowest price or Most Economically Advantageous Tender (MEAT), and value for money efficiencies can be high - efficiency improvements in public sector contracts of 20-25% are not uncommon. They have proved particularly successful when used with requirements that have clearly defined specifications and where there is a vibrant market.