Auctions platform is a procurement tool that enables organizations, through electronic auctions, to conduct negotiation processes in an entrepreneurial way. Gatewit Auctions is a characterised by its simplicity, strategic for both the Promoters as well as for Bidders (buyers/suppliers). Given the transparency of the process, the inclusion of a larger database of suppliers, increased competition, as well as with decreasing the cycle time of the negotiation process, savings are enhanced.
Organizations who need to obtain the best price by encouraging competition among bidders. Usually used as the last leg of Sourcing and Tendering, mostly when award decision is the price.