Although eAuctions have become more commonplace within business, in some quarters there is still scepticism over their effectiveness and uncertainty in how to drive good, fair results.

For the Buyer, auctions drive pricing to levels that cannot be achieved in one-on-one negotiations, as well as providing objectivity, transparency and auditability in the supplier selection process. From a Sellers perspective auctions promote fair competition and reduced sales cycle times.

An eAuction is a way to accelerate negotiation between a buyer and seller, concluding the bidding process in a dynamic alternative to final negotiations.

This paper recaps some of the basics of eAuctions and provides guidance on how to successfully run eAuctions to achieve greater value from your suppliers.