A reverse auction is similar to a unique bid auction as the basic principle remains the same; however, a unique bid auction follows the traditional auction format more closely as each bid is kept confidential and one clear winner is defined after the auction finishes.
The buyer may award the contract to the seller who bid the lowest price. Or, a buyer may award contracts to suppliers who bid higher prices depending on the buyer’s specific needs with regard to quality, lead-time, capacity, or other value-adding capabilities.
Irisidea, presents different kinds of Reverse Auction Software for any types of business and can customize it further as per business need.
Reverse Auction Script Features
How Reverse Auction Website Works
We deliver different types of custom Reverse Auction software or Reverse Auction scripts. A reverse auction (also called procurement auction, e-auction, sourcing event, e-sourcing) is a tool used in business-to-business procurement. In this process, the role of the buyer and seller is reversed, with the primary objective to compete purchase prices downwards.
The Back End Design (Control Panel)
- Administrator Login Page – The admin (the owner) logs into the dashboard through secure login password protected page.
- Administrator Dashboard – The admin controls everything related with the auction site – the content of the site, bid auction item information, users, reports, and so on. Further, when you use the admin panel, you’ll feel it comfortable because of its smooth and user-friendly interface. Administrator Dashboard – Once successfully logged in, the admin is taken inside the main control section of the whole Lowest Unique Bid Auction. This section is called the admin dashboard or the control panel home page.
- Auction Item Category Management – Every items in the auction store fall under a more broad level of category. This section lets you create that. You create a category and assign a single or multiple items (products) in that category. You can also hide/show certain categories you don’t want to display. The admin can also create not only single category, but unlimited number of sub categories for each broad level category. The administrator can also customize how the category displays in the front store.
- Auction Item Management – You can add a new item in your auction. Adding an item on the auction bid is easy. You just need to have the basic information of the product or you can add the product and come back later and edit the information at your comfort. You can also copy previous listed auction and schedule it for future time with just one click.
- Manage Auctions – Reports are important piece of information that gives you a sense of how things are running, where attention is required, and how to go about it. The Auction Report or Bidding Report Section lets you do that.
- Auction Winners – The administrator can manage payment and shipping status information through auction winner section so that your members exactly know when they’ll get their product and who will deliver the product.
- Manage User– As the auction site grows and becomes popular as more user registers, managing users (members) of the site becomes crucial. Other times, the site own also have to be able to ban users from using the site of illegal activities. The member and user management section allows you to do that. From here, the site owner can view, add, edit, or delete – all registered users. Lastly you can also make a backup of all this user information in CSV file format, and save them for future use.
- Auction Emails Section – This section lets you to manage all incoming and outgoing emails. This dynamic email setting lets you to send emails directly by creating various types of emails – user registration, welcome, payment invoice notifications and others – to your users using your own dynamic text and images.
- Referral Email Section – The need to send newsletter frequently to the members of your auction. Newsletter are important tool to let know of what’s happening in your auction lately, what you’re offering, and what new bid auction are available for them to bid with giving status update to user for their bidding. The Email Section is created with that intention. From this section, you can easily create newsletters. You can compose a newsletter using the fully developed editors.
- Config Website – The admin specifies required currency, email, social media, referral points setting, payment gateway and time zone with Google Analytics Code for the Lowest unique bid web site to reflect back their local settings. This is crucial information for members who reside in different parts of the world you can manage all this from config Website Section.
- Time zone setting – Assign the required time zone for your site.
- Gift Coupons: Gift coupons under manage user section will give option to enable discount while purchasing bidding credits for users. You can set the coupon validity and limit the user who can avail the same.
Front Section Feature of the Reverse Auction Script
- Browse Section – User can browse different category section and select the item in which he want to place bid. Category and placing of item can be controlled from Backend
- My Account Section – User can manage his password, check bidding credits, manage his preferences and can view his bidding patter on closed or current auction. He can also see his winning auction with invoice details and all.
- Watch List – Using this feature user can keep track of item he want to place bid on. He can see where that auction is leading and can decide to bid whenever he wants. With Watch list he can skip searching of a particular product and go directly to what he likes.
- Buy Credits – User can select the best plan to buy bidding credits and do payment using PayPal or any other payment gateway which can be implemented no request. Credits will get reflected on his account in real time.
- Email Notifications – User will get email notification on his bidding and get the status if its unique or Lowest unique bid. He will also get alert email if someone outbid his bid. Upon completion of the auction winner will get notification email with invoice while others will get there auction result status.
- Auction Timer – Auction comes with timer and will close once timer end and the maximum required bid to close and auction reach. Both of criteria should meet to close an auction else timer of auction will increase to predefined manner which can be set at the time of listing of each auction.
- Reopen Auction – Auction at front end will reopen auction for a limited time period if there is no winner in only for members who have already placed bid on that auction.