What To Expect from Best-in-Class Reverse Auction Technology and User Design (Part 2) [PRO]

auction fotofabrika/Adobe Stock

Spend Matters tracks more than 50 technology providers that claim to have some type of auction or reverse auction capability in place to support strategic sourcing efforts of procurement organizations. But only a select few vendors go the extra mile to support what we consider the core capabilities that just about any procurement organization can take advantage of to drive incremental savings and results.

As we conclude our look at what procurement organizations should expect from the intersection of best-in-class reverse auction capabilities with a streamlined user design/experience, we define and explore the following areas: asynchronous real-time interactive graphical views (of events), real-time substitution request capabilities, real-time connectivity monitoring, constraint support and optimization-backed capability. Missed Part 1? Read it here.

For full access to this PRO content: