 For an in-depth understanding of our service, you can read our About Auctions page.
If you would like to see the answers to some commonly asked questions, check out our Reverse Auction FAQ.
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You know what a reverse auction is -- you wouldn't be here if you didn't.
It's possible that you or your organization have participated in a Reverse Auction as a supplier. But, did you know how easy it is to host an auction of your own using the Synergy Advantage Auction Hosting service?
The few steps listed below is all it takes to create an auction that can continue to develop the relationship you have with your suppliers while maximizing your purchasing power.
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Register Your Organization (for Free!)
Registration is fast and to the point. All you provide is your basic organization information (name, address, etc), and the name and login info of the primary administrative user. (Don't worry, we hate spam as much as you do, we will never, ever sell our client information to any 3rd party.)
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Once you have Logged In, Create Your New Auction and Invite Suppliers to Participate
Create your Auction for the products or services you want to buy. With our easy-to-use form, you have complete control over every aspect of your auction.
By inviting only the suppliers you determine are worthy, you have complete control to continue to nurture your business relationships while also maximizing your best pricing.
To invite bidders you need to type the primary e-mail addresses of your favorite suppliers in the Eligible Bidders list. You can separate the bidder e-mail address by commas, or by placing each one on a separate line.
Then, send your invitees an e-mail address directing them to the Synergy Advantage site. Tell them they should register their organization and to use the primary e-mail address that you used in the invitation as the e-mail address of their main administrative user.
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Accept Bids While the Auction is Open
Prior to auction opening, your Eligible Bidders should log into the system to verify that they can see the auction to which they have been invited.
Once the auction is open, your suppliers can start the bidding process. Bidding is easy. The suppliers simply type in the amount they would like to bid and click the Place Bid button.
To provide for an orderly and fair auction, you have the option to configure your auction to where the auction is extended when bids are entered near the Auction Close time.
Prior to the auction opening, you will receive a Paypal notice for payment for the amount of $250 per auction. This fee is a flat fee and is not contingent on the size of the auction, the money involved, or the number of bidders invited. For an additional $250, Synergy Advantage will administer your auction, generate invitations, and provide technical support to your suppliers immediately prior to, and during, the time the auction is open.
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After the Auction is Closed, Analyze the Results
After the auction has closed, all bids have been received, and all time extensions have elapsed, you have the option to export all bidding detail, including winning bids, to an Excel spreadsheet for further examination.
Also, there are optional metrics which you can enter, such as Current Supplier Cost and Target Price, that will further assist you in determining total money saved and how effective the reverse auction was.
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Now you've seen how easy it is to host an auction of your own. We invite you to begin the process by registering your company and configuring your own auction (remember there is no charge for anything until we've confirmed with you that an auction you set up is not simply for testing purposes).
Or, for a more in-depth understanding of our service, you can read our About Auctions page.
Or, if you would like to see the answers to some commonly asked questions, check out our Reverse Auction FAQ.
Or, you can use our contact form to request a personal, informative
introduction and demonstration of our service.
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