How it works

How it works 

What is a Reverse Auction?

Reverse auctions (also called eAuction, eProcurement, eSourcing, sourcing event, procurement auction, eRFP/eRFQ, B2B Auction) are a premier tool of procurement for businesses and government entities.

Advooz’s reverse auction process is unique due to its highly buyer-centric design with no software, no risk and no cost to our buyers.

In a reverse auction, vendors compete to supply a product or service by offering lowering bids to the buyer. Advooz facilitates an online, real-time dynamic auction that enhances competition among qualified vendors. This competitive purchasing process finds true market value for goods and services.