Introduction to Online Auction
Online auction, also known as procurement auction, e-auction, sourcing event, e-sourcing or eRA) is a process where the auction or sale of goods takes place on the internet, the process is completely automated and there exists almost no chances of manual manipulation, faults or errors.
With our auction software, your company can now perform the auctions online, on internet, unlike Live Auction, E-Auction helps you to reach to more buyers, unlike Live auction, you do not have to engage your people to auction the goods, you just need to enlist the same on the website, invite your customers to bid online, it just takes 5 minutes to add new goods for auction, and your client can submit a bid proposal, in a minute.
Features of Online Auction Software
Our EAuction software has been developed to comply as per the required record maintaining system, you can see how many bids a particular item has received, who is the top bidder, you also have option to end bidding for an item or lot as well as re-start the auction process for a given lot which has not received required number of bids.
Our Online Auction Software also generates different types of reports, MIS reports, weekly & monthly reports, reports based on commodities or goods, reports based on companies, there is also a provision of creating customized reports for back office purpose.
Online Auction software is a must for auction companies, our software helps you to automate the auction process for different commodities like Tea, Jute, COAL, Sugarcane, Rubber, Leather, Electronics, Consumables and others. Our online auction software is also equipped to serve government organization, Large Auction Units and other sectors.
Our Online Auction Software comes with the following options -
Open Auction - In this type of auction, any one is allowed to place bids, and the placed bids are displayed to public, this is the most common, most reliable and most profit generating auction process, as a person can see the highest bidder, and can place bid amount more than the winning amount. The person who bids the maximum amount is determined as the winning bidder, after the auction ends.
Closed Auction - This type of auction operates more or less like Open Auction, but in Closed Auction the bids are not shown publically, the person who bids the most, wins the auction, but in this type of bidding, over bidding cannot take place. This type of auction is very popular in the government sector. Anyone is however, allowed to place bids.
Private Auction - Private auction is a type of auction, where only invited parties are allowed to place bids, and the bid amount is not displayed, the person who submits the highest bid, is determined as the winning bidder.
Tender Auction is different from reverse auction, unlike reverse auction, where the winner is chosen who bids the most, in tender auction, the person who bids the least, wons the deal. This type of auction method is followed by governments and public subsidiaries, altough the one who bids the least, wins, but only if the entity fulfils all the necessary requirements of the auction process.
Our online auction software has been developed with Microsoft ASP scripting language, backend being Microsoft SQL Server 2005, the software needs a web server and a database server, it can be run on a dedicated server or shared server, our software can support upto 10,000 auction processes run simultaneously, with over 10,000,00 users at a time. Our software is well equipped with record keeping, fault tolerance, backups along with data protection capabilities.