eBidding platform is
a web-based price negotiation tool that utilizes dynamic
pricing to derive true market prices of product/services
in response to current market supply and demand conditions.
This platform incorporates a proven reverse and forward
auction method of online auction.
Buying or selling organisations post all relevant information
and specifications online and invite qualified and capable
suppliers or buyers to compete in a real-time auction
session.
This method saves time for buyers or
sellers and increases their chances of securing a product
or service at a better price. This reverse auction approach
has consistently returned buyers a savings average of
8% - 20%. As for forward auction, sellers have managed
to sell at an average 10% to 30% higher.
eBidding enables real-time market price
discovery, transparency, and shortened bid cycle time.
Since it is web-based, it allows buyers and suppliers
to participate wherever they may be, as long as they
have access to the Internet.
eBidding provide an easy introduction
to participating in e-commerce – with limited
business or capital risk and potentially high rewards.
The application requires little or no integration with
other software. Our application is capable of running
several different types of auctions.
Since Jan. 2008, Privasia had carried
out a total number of 94 Reverse Auctions and 4 no.
of Forward Auctions. Overall saving generated for Reverse
Auction for 94 nos of eBids is about 33.8M. Expected
no. of eBidding for the month of August is 21 projects.
For the year 2008 to date ;
 The
highest saving in terms of percentage acquired thru
reverse auction is 46.8%
The
highest saving in terms of value acquired thru reverse
auction is RM19.1M |
