REVERSE AUCTIONS

Bigger bottom-line impact with easy reverse auctions

Shorten negotiations with transparent bidding, advance supplier relationships, and maximize savings with Workday Strategic Sourcing.

See how it works
Modern reverse auctions are simple, fair, and effectiveRead the whitepaper
See how reverse auctions support sourcingWatch the webinar
Learn more about Workday Strategic SourcingRead the data sheet

Provide a transparent platform where everyone wins

Enable suppliers to bring creative solutions to the table

Communicate priorities, constraints, process and award criteria clearly

Control auction strategy with custom auction lots

Decide what suppliers can view, including auction rank  

Shorten negotiation cycle time with transparent bidding

Uncover the prices that matter with everyone on the same platform

Strengthen supplier relationships via collaboration

Select suppliers dynamically, in real-time and in one place

Invite new and active suppliers to participate, without using a separate system

Provide a fair and productive environment for suppliers

Communicate clear, helpful information to suppliers with a realistic scope of pricing requirements

Evaluate the subtleties and risks with each supplier, category, and event

Undertake due diligence by digging into time-based trends for every supplier

Increase return-on-effort with streamlined sourcing

Drive bottom-line impact with additional cost-saving opportunities

Realize substantial savings on commodities and services with low substitution cost

Integrate reverse auctions into the overall sourcing process

Move seamlessly from a sourcing event to a reverse auction

Scale auctions with Workday Strategic Sourcing’s easy-to-use platform, with no special training

Schedule your auctions in advance and let the platform do the work for you

LEADING BRANDS TRUST WORKDAY STRATEGIC SOURCING

ACCELERATE RETURN-ON-EFFORT WITH REVERSE AUCTIONS

See how Workday Strategic Sourcing's reverse auctions can shorten negotiations, advance supplier relationships, and maximize savings.