Tender Functions
Create a competitive environment among your suppliers with different tender methods and achieve maximum savings.
Standard Auction (English)
Suppliers update their offers throughout the auction. Show the best price or rankings, and choose the competition display that suits your process.
Japanese Auction
The price starts high and falls step by step. Suppliers who accept continue; even a single remaining supplier can keep accepting down to their lowest acceptable level.
Dutch Auction
The price starts low and rises step by step. The first supplier to accept the offered price wins.
Sealed-Bid Auction
Suppliers submit their offers while the buyer cannot see prices until the auction ends. Envelopes are opened after closing and offers are evaluated together.
Percentage Auction
Collect bids as percentages instead of amounts in Dutch and Japanese auctions. Use discount or increase rates to compare offers on a common basis.
Sales Auction
Offers compete upwards for products, assets or surplus inventory. The company with the highest offer wins.
Features Supporting Auction Processes
Live Charts
View and compare the bid data made available by your auction settings.
Invitation List
Easily select and manage the suppliers to be invited to the tender.
Messaging
Instant messaging with suppliers during the tender process.
New Round Creation
Extend the tender or open a new round to increase competition.
Tender Reports
Detailed tender result reports and savings analysis.
Security
All bids are stored encrypted and protected from unauthorized access.
Asset and Stock Sales Tenders
In addition to procurement, you can also use Tenflex to sell surplus stock, scrap or assets.
Surplus Stock Sales
Put unused stock up for sale via tender.
Scrap Sales
Sell scrap materials at the highest price.
Asset Sales
Monetize machinery, equipment and other assets via tender.
Achieve Savings with E-Auction
Reduce your procurement costs with Tenflex's advanced tender functions.