What is included in Procure Suite’s managed reverse auction service?

Our team manages your e-Auction end to end: scoping, event strategy, setup, live execution, and post-event reporting, so you get the benefits of Procure Suite’s reverse auction platform without running the process yourself.

Which categories can you run auctions for?

We run managed auctions across office supplies, logistics, packaging, multiple indirect categories, construction, MRO materials & services, energy (electric and natural gas), real estate, and medical supplies.

What happens during event setup?

We schedule the event, confirm supplier accessibility, set the starting price strategy and auction type, enter lots and line items, set the number of extensions, and send out supplier invitations to confirm participation.

How is the live auction administered?

Our team acts as the event administrator during the live auction: reminding suppliers, answering questions before and during the event, monitoring supplier activity and status on the platform, and providing technical support if needed.

What do we receive after the event?

You get post-event reporting including bid analysis, an attendance audit, and custom reports in Excel format, along with follow-up on vendor and participant feedback to support your awarding decision.

How is managed reverse auction service priced?

Procure Suite offers pricing per event and per package. Contact us to learn more about our offerings and solutions as a full-service partner.

Procure SuiteServices

Managed Reverse Auction Services

Manage the e-Auction process efficiently with managed reverse auction services from Procure Suite. Get tangible results for your reverse auction of goods or services, run end to end by our team on our advanced platform.

Use the right tool
Choose the right suppliers
Set up the event properly
Execute e-Auctions

Request a Demo See Pricing

Unlock value

Powerful results, expertly delivered

Enterprises that hand their auctions to Procure Suite's managed team see the same measurable gains as our self-service customers, without adding the workload.

18–40%Savings on procurement spend with reverse auctions

80%Savings on time consumed from requisition to purchase

57%Businesses get better decision-making through procurement and risk management software

Common challenges

Why enterprises hand their auctions to Procure Suite

Running a reverse auction well takes more than software. Our managed service closes the gaps that make in-house events risky or ineffective.

Specialized expertise required

Running a competitive online auction successfully requires insights, expertise, and familiarity with the bidding process.
Most procurement teams don’t run enough events to build that expertise in-house.

High stakes for first-time events

Organizations conducting an e-sourcing event for the first time need proven guidance to get supplier turnout and rules right.
Our fully managed e-Auction services span both public and private sector events.

A demanding, multi-stage process

A well-run auction spans scoping, event strategy, setup, live execution, and post-event reporting.
That coordination is more than most teams can staff on top of their day-to-day workload.

How it works

A fully managed process, start to finish

Our state-of-the-art, cloud-hosted reverse auction managed services follow a proven six-stage workflow, so you get the benefits of a live auction without running the process yourself.

Stage 1–2

Scoping & Event Strategy

We start by understanding your spend category and the suppliers you want to compete for it, then define the team and goals behind the event.

Identify the spend category, sub-categories, and line items
Collect historic and target pricing to inform buying patterns
Shortlist and profile participating suppliers
Define buy-side and sell-side roles and finalize event strategy

Stage 3

Event Setup

Every operational detail of your auction is configured before a single bid is placed.

Schedule the event and confirm supplier accessibility
Set starting price strategy and choose the auction type
Enter lots and line items and set the number of extensions
Send supplier invitations and confirm participation

Stage 4–5

Pre-Event Prep & Live Execution

Participants are trained and rehearsed, then our team runs the live event from start to finish.

Train every participant on the sourcing platform
Run a full mock event to confirm access and understanding of the rules
Act as event administrator, answering supplier questions in real time
Monitor supplier activity and provide technical support throughout

Stage 6

Post-Event Reporting & Award

You get clear reporting and support to make the award decision with confidence.

Thank all participants and share evaluation timelines
Deliver bid analysis, attendance audits, and custom reports in Excel
Follow up on vendor and participant feedback
Support your team through the awarding decision

Capabilities

Auction-ready across every spend category

Our customized reverse auction service addresses e-sourcing requirements across a wide range of categories, helping enterprises save costs on both direct and indirect spend.

Office Supplies
Logistics
Packaging
Multiple Indirect Categories
Construction
MRO Materials & Services
Energy: Electric Energy, Natural Gas
Real Estate
Medical Supplies

Software + Service

Our Software and Service

Conducting web-based reverse auctions successfully requires insights, expertise, and familiarity. Online e-Auction enables enterprises to get the lowest bids from sellers who have participated in the process.

Procure Suite offers the necessary blend of software and services to organizations that conduct e-sourcing events even for the first time. Our fully managed e-Auction services span across public and private sectors.

Key Components for Executing Online Auctions

Use the right tool
Choose the right suppliers
Set up the event properly
Execute e-Auctions

Related modules

Extend your sourcing toolkit

Managed reverse auctions work even better alongside these Procure Suite modules.

Reverse Auction Software

Prefer to run events yourself? Get the same platform our managed team uses, with full self-service control over setup and execution.

Explore module

Custom Auction Procurement Software

Need a tailored bidding format? Configure custom rules, lot structures, and auction types for complex sourcing.

Explore module

RFI, RFP & RFQ Management Software

Combine RFPs, RFQs, and RFIs with your auction workflow to qualify bidders before they compete on price.

Explore module

Ready to run your next auction, hands-free?

Let our team plan, host, and run your reverse auction end to end. Book a personalized demo to see how Procure Suite's managed service delivers results.

Request a Demo Talk to Sales

FAQs