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As you may know the traditional way of eAuction to bid on a product or service and the buyer with highest bid wins the auction is now closed down. In today’s world with the increase in demand for auction a different concept of Reverse Auction is invented. In this type of Online Reverse Auction the same technique of bidding takes place but the winner announcement is not for the highest bid but it is for the lowest bid. This technique of reverse auction system has attracted lots of buyers online and there is a big competition for winning a product or service. As there are more bids the price of product or service falls down, so with a bid from individual thousands of other bidders are attracted in bidding for the product.
This type of reverse auction websites run on a simple Reverse Auction Software where the buyer needs to register himself and has to pay per bid accordingly. As soon has any buyer wins the auction at the lowest bid he is presented with the product or services within given time period. This type of Online Procurement has become very famous now days and numbers of websites have come up with the strategy of providing reverse auction bidding online. These types of reverse auction technique are also known as etendering, Global Sourcing Solution, e sourcing, ePurchase or Procurement Services Provider.
These type of Procurement Applications run on a commission basis like a certain percent on sale of a particular product or service. In other case these application also earns huge income from pay per bid technique, for every bid individual has to pay certain amount to the website. These pay per bid prices are very reasonable and affordable to middle class people also. Many individuals try their luck and earn good income from these types of Reverse Auctions online. If you are interested in trying your luck in this type of e-Procurement Solutions, before you take any step forward you should know to control your Spend Management system because many people register themselves in hurry and with a big loss they return back very depressed.
If you are planning to create you know website that deals in reverse auction as it is very good way to earn fast cash in short span of time. But before you take any decision it must be cleared that establishing a reverse auction website is not a simple task hence you should know some basic information’s like how these types of On-Demand Applications are made? what is the budget? And what is SRM esourcing system? If you want to know the information’s in detail please visit our website hedgehog.com.
Reverse auction is a very good choice for intelligent house wife’s who are interested in earning extra income online by just spending some time daily. They can wind bids and buy products at 50% to 90% discount and then sell it at original rate with some percent discount for attracting customer to buy from you online.