Contract Number: CNR01506
Contract Date: 12/01/2020 – 11/30/2024
Agreement: Negotiated
Renewals: None
eProcurement: N/A
RFP Number & Name: 683518 / Reverse Auction Services

The Procurex contract delivers reverse auction software and services on a platform developed and led by procurement professionals with decades of strategic sourcing expertise. Full-service reverse auctions bring cost compression, transparency, and speed to the bidding process while ensuring members work with quality vendors that meet a range of success criteria.

Procurex offers a cloud-based reverse auction software platform that opens new opportunities for cost aggregation and capturing of spend. Procurex becomes an extension of your procurement team, working with you to find the best vendors to fit your needs, meeting your non-cost factors, at the best available prices. E&I members benefit from valuable eRFX tools and services to collaborate with qualified vendors and realize cost savings through reverse auction events.

Contract Highlights
  • Two flexible model options to conduct a bidding event based on your needs
  • Non-price factors can include E&I supplier, quality, special certifications, diversity, sustainability, years of experience, execution rate, delivery times, interview process, and more
  • Capture cost savings while considering non-price factors with two-step RFP process
  • Identify purchases to put through the reverse auction or renegotiation process
  • Normalize specifications to level the playing field for suppliers
  • Manage supplier communication and training
  • Procurex manages the entire bid process, including hosting and managing the auction event and post-auction follow-up

More Information
If you would like more information, submit this form and your E&I Member Representative will be in touch with you shortly.

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