Reverse Auction Platform

A reverse auction is a sourcing event where pre-qualified suppliers compete by lowering their price for a contract or service in real time. The buyer sets the auction rules and evaluates supplier offers based on cost and other criteria. Geomotiv’s reverse auction software manages the live bidding process, records bids, and supports custom qualification workflows.

A reverse auction platform creates live competition, so suppliers lower their prices to win your contract. That market pressure produces better outcomes than one-on-one negotiation. You also cut the cost of manual sourcing by replacing scattered emails and spreadsheets with a single auction system.

Geomotiv’s software supports ranked, sealed-bid, Japanese, and scoring-based reverse auctions:

• Ranked auctions: Set real-time bid rankings and allow bidders to improve their offers;
• Sealed-bid auctions: Collect confidential offers and compare them after bidding closes;
• Japanese auctions: Set price levels and bidding rules for auction rounds;
• Scoring-based auctions: Score offers on price, quality, delivery, and service type.

Choose the format that matches your processes and run different auction formats from a single reverse auction platform.

The system logs bids, timestamps, and buyer actions and stores a complete audit trail for each event. Buyers set the same bidding rules for all participants and can review bid history throughout the auction. Organizations can use these records to verify the bidding process during compliance reviews or resolve disputes.

Yes. You invite, qualify, and approve suppliers before an event, so only vetted vendors join your reverse auction. Your team can maintain approved supplier lists and reuse them across sourcing events.

The platform uses role-based access, approval workflows, and data encryption to safeguard sourcing and bidding data. It generates a complete audit trail to support procurement compliance and public-sector requirements. Organizations can export records for internal review or third-party audits.

Pricing starts at a flat $15,000 enterprise fee for branded auction software deployed on your domain, with ownership of the code and bidder data. The platform can work with your preferred payment gateways and adapt to your sourcing processes. Geomotiv’s team customizes the platform to your requirements, including custom integrations and changes to bidding logic, with the scope and fee defined in the contract.

You can launch a fully branded reverse auction platform in two weeks using our white-label software. Geomotiv configures your auction settings, supplier onboarding, scoring rules, branding, and domain as part of the launch. Organizations with more complex integration requirements may need additional time for the implementation.

Compare the winning bid with the starting price or pre-auction quotes to see how much the auction reduced the contract price. The platform records bid history and auction results, so your organization can document the savings from events.

We provide ongoing support for platform configuration, auction setup, bidding issues, and post-launch troubleshooting. You can also work with the team when your procurement requirements change, such as adding new auction rules, supplier workflows, or integrations.