It’s always an honor to be recognized for our commitment to excellence in sourcing. We are proud to announce that today, CIO Applications has recognized Scout as a 2019 Top 10 Auction Software Solution Provider.
This prestigious award is based on an in-depth evaluation of Scout’s capabilities in the Auction Software category. This annual list of companies recognizes and promotes technology innovations and is judged by a panel of experts and members of CIO Applications’ editorial board. The award continues our recent stream of success as Scout was also just ranked as the top e-sourcing tool for user satisfaction in an industry report from Procurement Leaders.
Joe Phillip, Managing Editor of CIO Applications, shared, “It is our pleasure to feature Scout RFP as one of the Top 10 Auction Software Solution Providers 2019. We are impressed by Scout’s platform that provides collaborative cloud-based reverse auction software and enables procurement to automate core processes.”
A New Era for Reverse Auctions in Strategic Sourcing
Indeed, we’ve been innovating significantly in our reverse auctions capabilities in collaboration with our customer community. With Gartner peer reviews averaging 4.9 stars out of 5 for the Scout platform, our customers are reporting amazing results and we’re honored to be on this transformational journey with them.
“In one [reverse auctions] event involving multiple global suppliers, we were able to streamline negotiations to less than four hours and present savings options to the business for millions of dollars below the historical incumbent pricing,” reported Antonio Humphreys, Senior Manager of Global Procure to Pay at Adobe.
Maybe that’s why 60% of companies with over 10,000 employees advocate the use of reverse auctions. We recently did a deeper investigation into why reverse auctions are rising in popularity and found that the answer is clear: modern reverse auctions are much different from those of the past.
“Today, reverse auctions are worthy of a second look. Modern reverse auction platforms provide an enriched auction approach that improves both the procurement and supplier experience,” said Jean Johnson, Senior Director of Global Procurement at LogMeIn.
Check out our forward-looking take on reverse auction technologies as we explore:
- How today’s reverse auction technologies have evolved
- Why cutting edge procurement teams are leveraging reverse auctions
- The benefits reverse auctions can provide for your team and enterprise
- Key strategies for change management and introducing reverse auctions
Reverse Auctions in Real Life: How MDC Partners Drives Sourcing Success
Want to learn more about how customers are driving down prices while strengthening supplier relationships? Join us later this month for a deep dive into the world of reverse auctions or IACCM’s upcoming webinar Best Practices for Cutting Through Contract Chaos with MDC’s Vice President of Sourcing, Jason Cammorata, on July 30th.
Hope you can join us!