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eAuctions

Every Auction Format, Built Into One Competitive Bidding Platform

Run any auction format you need—reverse, forward, open, sealed and more—with powerful configuration, real-time competition, and deep analytics. One platform. Every mechanic. Better outcomes.
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Explore Strategic Sourcing
7 auction formats
Multi-lot bidding
Real-time bidding
Configurable rules
Every major auction format

Reverse, forward, open, ranked, Japanese, Dutch, and sealed-bid

Qualified supplier participation

Gate access to the same qualified records used across SRM

Configurable rules

Extensions, minimum decrements, and closing rules you control

Real-time competitive bidding

Live ranking and bid trends as the auction runs

Office Supplies RFPs 5,260 MRO RFPs 3,118 Janitorial RFPs 1,904 Safety & PPE RFPs 2,441 IT Hardware RFPs 1,842 Lab Supplies RFPs 906 Furniture RFPs 712 Software & SaaS RFPs 1,356 Facilities & Maintenance RFPs 1,528 Professional Services RFPs 987 Logistics & Freight RFPs 1,203 Marketing Services RFPs 654 Telecom & Connectivity RFPs 841 Fleet & Vehicles RFPs 439 Packaging RFPs 568 Construction & Trades RFPs 1,077
1. Auction formats Prokurit supports
Choose the right auction mechanic for your category, suppliers, and goals.
Reverse Auctions

Drive prices down through competitive bidding. Ideal for procurement of goods and services.

Visibility: Buyers see all; suppliers see own rank or best bid.

Forward Auctions

Prices bid upward to maximize value or premium. Common in capacity and inventory scenarios.

Visibility: Buyers see all; suppliers see own bids.

Open Auctions

All bids are visible in real time. Promotes transparency and continuous competition.

Visibility: Full visibility for all participants.

Ranked Auctions

Suppliers see their rank (and sometimes best bid) without full price transparency.

Visibility: Rank (and own bid) visible; not full price disclosure.

Japanese Auctions

Start high and decrease price at set intervals until suppliers accept. Suits standardized items.

Visibility: Price steps visible; acceptance is confidential.

Dutch Auctions

Start low and increase price until suppliers drop out. Useful for capacity or spot buys.

Visibility: Price steps visible; status is confidential.

Sealed-Bid Auctions

Suppliers submit one hidden bid. Best bid wins. Good for sensitive or one-shot needs.

Visibility: No visibility until after close.

2. Multi-lot and multi-line bidding
Run multiple lots or line items in a single event. Suppliers can bid across all items, lots, or scenarios.
Group by lot, category or scenario

Structure complex events the way your sourcing actually works.

Suppliers bid across multiple items

One event, many lots or line items, bid independently or together.

Consolidated results and analytics

See performance across the whole event, not just one lot.

3. Real-time bidding, extensions, and closing rules
Keep the competition fair, extend when it matters, and close with confidence.
Countdown Timer

Visible to all participants that matters, with real-time updates.

Automatic Extensions

Extend by 2 minutes when a bid is placed in the final minutes.

Minimum Decrement

Enforce minimum bid decrement ($ / $ / %).

Round Management

Multi-round configurations with clear progression.

4. Qualification and RFQ-to-auction workflow
Seamlessly move from RFQ creation to qualified suppliers and launch your auction with confidence.
Explore Strategic Sourcing →
RFQ Creation

Define requirements and evaluation criteria

Supplier Qualification

Screen and pre-qualify suppliers

Auction Setup

Choose format, rules, and settings

Live Auction

Run competitive auction in real time

Evaluation

Analyze results and supplier performance

Award

Create award documents and follow-up

5. Results, analysis, and award
Deep visibility into performance, savings, competition, and award recommendations.
  • Comprehensive results and rankings
  • Savings and competition analysis
  • Side-by-side lot comparisons
  • Award recommendations & workflows
  • Export reports and audit trail
Award to contract →
Full analytics depth →
Award Workflow
Review & Shortlist

Review results and shortlist preferred suppliers

Create Award

Generate award documents and approvals

Send & Accept

Send awards and collect acknowledgments

Hand off to Contract

Move to contract management seamlessly

Looking for reverse auction / eAuction software specifically?

If your primary need is reverse auctions for price reduction, visit our dedicated page with deeper guidance, use cases, and ROI benefits.

Explore Reverse Auctions
7. Connected to the rest of the platform
eAuctions is fully connected to every step of your procurement lifecycle.
Strategic Sourcing

Identify opportunities and run RFx

eAuctions

Run any auction format with confidence

Contract Management

Create and manage contracts

Purchasing

Create POs and manage suppliers

Procurement Analytics

Measure savings and performance

Frequently asked questions
Prokurit supports reverse, forward, open, ranked, Japanese, Dutch, and sealed-bid auctions—each configurable to your category, suppliers, and goals.
Yes. Prokurit supports multi-lot and multi-line auction structures—suppliers can bid across all items, lots, or scenarios in a single event, with consolidated results and analytics.
You configure extension rules (e.g., extend by 2 minutes when a bid lands in the final minutes), minimum bid decrements, and round management—so competition stays fair and closes on your terms.
Auctions connect to the same RFQ-to-auction workflow used across Strategic Sourcing—define requirements, qualify suppliers, then launch the auction with confidence.
You get full results and rankings, savings and competition analysis, side-by-side lot comparisons, and award recommendations—then hand off directly to contract management.
Reverse auctions are one of the formats covered here. If you want a focused page on reverse auction / eAuction software specifically, visit our dedicated Reverse Auction / eAuction Software page.