Jointobid.com, introduced by Enesa Eco Solutions Private Limited, provides a unique end to end technology solution to its customers to conduct reverse auctions. In a reverse auction, the sellers compete to obtain business from the buyer and prices typically decrease as the sellers underbid each other. Bidders can see the bid offered by other supplier without their identity. Many businesses use this technique to reduce their cost of procurements by creating competition among suppliers.
Generally this method is used for large value procurements as the process of reverse bidding is complex and requires expert support to conduct. Jointobid.com has introduced a DIY (Do it yourself) tool, where the whole process from RFQ creation, inviting suppliers, conducting auction event, delivery and feedback automated and digitised. Due to its DIY concept, the cost of conducting an event can be significantly reduced and hence can be used even for smaller value procurements.
Jointobid.com follows a very rigid process of selection of suppliers so as to ensure its customers have best suppliers/ service providers in case they opt for public bids. Apart from the same it provides ratings & review of its registered suppliers which helps customers in short listing them.
For suppliers it gives a platform where they can introduce themselves, advertise their products/ services and develop their business. Our module is dynamic, user-friendly, transparent, and gives you a 100% secured access.
For all our employee relocations, we have started getting quotes from movers & packers through reverse auction on jointobid.com. Post we have moved on reverse auction, our average cost of employee relocation reduced by 35%. Now we are exploring other areas too.V Sekhar
Head, Human Resources
We have always been sourcing our raw materials through reverse auction, however in the past we found it bit complicated and was able to conduct it with the help of expert agencies. The tool provided by Jointobid.com is super user friendly and we can do it ourselves without any expert support.Prateek Jhanjhari
In the past we used to pay around Rs 15K for each reverse auction event and hence we were using this for large procurement. Now our average cost of reverse auction on jointobid.com is less than Rs 3K and this has encouraged us to conduct reverse auction for smaller supplies too.Kalpesh Patel