Bid Decrementing Feature Added to FREE Reverse Auctions at WhyAbe.com

. March 6, 2007

WhyAbe.com has announced the release of its bid-decrementing enhancement as part of its Free Reverse Auction tools at www.WhyAbe.com. “We are happy to be the first and only web site to offer completely Free hosted Reverse Auctions with complete bid-decrementing capabilities.” said William Dorn, Director Operations for WhyAbe.com. Organizations and consumers can potentially save thousands of dollars using free Reverse Auction and RFx tools at www.WhyAbe.com.
WhyAbe.com offers free electronic commerce tools for buyers and sellers. With the addition of Free Reverse Auction bid decrementing, buyers can now create reverse auction events and choose a percentage increment that each supplier must decrease their next sequential bid by in order to place a lower bid. Buyers can create the auction so that competing suppliers are able to see their current rank or the lowest bid price received for the listing. Bid decrementing eliminates “bidding locks” where suppliers become tied for a bid and choose not to lower their offer. Additionally, bid decrementing encourages suppliers to offer tangible differences in the unit pricing for the products or services that they bid on, making it easier for Buyers to select the most cost advantageous supplier.

As always, buyers can invite suppliers to attend their events through the database of existing registered suppliers, or they can invite their own suppliers by using email addresses. Once registered, buyers also have the capability of emailing multiple suppliers questions directly from the site in one simple step. Buyers have the option to list their RFx’s or Reverse Auctions as public or private. Private listings can be viewed only by users that are invited to participate by the buyer.

“WhyAbe.com and Source One Management Services, LLC (www.sourceoneinc.com) have had many inquiries from businesses discovering Reverse Auctions and electronic Request for Proposal Management.” Explains Steven Belli, CEO Source One. “Unlike any other tool or website, WhyAbe.com, requires no financial investment from buyers or suppliers”. Most e-sourcing platforms require a large ramp-up period and/or a large deployment budget often mitigating any cost savings opportunities. WhyAbe is specifically designed to allow procurement professionals to do more in less time than conventional e-sourcing platforms. Buyers can easily monitor all of their activity through WhyAbe’s Dashboard feature which provides the history of all activity for all projects. This is especially important for companies that are trying to comply with Sarbanes Oxley.

WhyAbe.com is an automated collaborative marketplace that can be used by any organization in any industry. Registering and using the site is free. Obtaining value from WhyAbe is instant. There is no software to install or PC’s to configure. A computer equipped with the latest version of Internet Explorer or Firefox (available free (at) whyabe.com) provides immediate access to the comprehensive and user friendly tool. WhyAbe provides the tools necessary for procurement professionals as well as retail buyers to control costs, manage performance, ensure compliance and quickly deliver value. WhyAbe was designed so users would have a quick learning curve, and recognize benefits immediately.

WhyAbe is the available for free on the web (at) www.WhyAbe.com

Category: Auction News

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