Auctions
Run a 3-round sealed-bid reverse auction as a competitive alternative to an RFQ.
Last updated 16 July 2026
An Auction is a live, competitive alternative to an RFQ. Instead of collecting one-off quotes, you invite suppliers to a 3-round sealed-bid reverse auction where they compete to lower their price across rounds.
As the buyer, you set up the auction from the RFQ screen, define the line items and closing times, and invite suppliers to bid. The winning bid feeds into a Purchase Order, the same as an RFQ award.
Guides
- Create an Auction: Set up a 3-round sealed-bid reverse auction and invite suppliers.