Instead of buyers bidding up the price of goods, sellers will bid down the price of the project (product or service). These are the benefits for the buyers and sellers.
For the Buyer • Create an RFP – Request for Proposal • Invite current and potential future suppliers to the auction • Watch sellers bid the price down • Streamline your negotiation and procurement process (which is often unpleasant) • Compare prices and sellers that satisfy your needs • Reach wide range of service and product providers • Ensure top quality and a timely completion • Reduce organizational costs
For the Seller • Get daily updates with RFP’s you can fulfill • Bid on RFP’s • Create new relationships with buyers from across the world • Negotiate with more buyers in less time • Receive a Purchase Order from the Buyer after you close a deal • Increase workload and business output • Saving advertising and distribution cost • Work with other sellers to source projects
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