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Online auctions have emerged as a favored method of purchasing goods and
services. This purchasing tool creates a forum in which many suppliers compete
against one another in real time dynamic open bidding versus the traditional
closed bidding process.
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The potential financial benefit of online reverse auctions can save a customer
up to 40%. Contractors can save up to 20% gross margin; one dollar saved is
equivalent to five dollars in sales.
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Online auctions deliver fast, measurable savings and thus have a great appeal to
senior managers interested in reducing costs, increasing price competitiveness,
and delivering greater value.
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Volume Buys/Discounts
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Purchase Card Reconciliation
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Vendor Catalogs
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Performance Evaluation/Surveys
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Wireless PDA Interface
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Link Information
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Vendor Access
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e-Commerce
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Reporting
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Surrogate Bidding
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