Workshop on Reverse Auction

On 25 October, 2016 from from 3.00 pm sharp to 5.30 pm at VIA

Speaker: Apna Jugaad an online Reverse Auction tool

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Workshop on Reverse Auction

Mr Viswanath Ch V K, Director of Sarda Solutions & Technologies Pvt Ltd., Raipur conducted the workshop on “Online Reverse Auction Tool” organized by Knowledge Forum of Vidarbha Industries Association at VIA. He said it is an online platform for e-Tendering and auction, which is easy and efficient auction listing.

He said online platform ‘Apna Jugad’ is trying to improve reverse auctions, by offering a portal that makes tendering, e-procurement and e-auction simple and cost-effective. He highlighted the features of the cloud platform to entrepreneurs in the city. In reverse auctions, sellers compete to obtain business from buyers, leading to lower prices as sellers underbid each other. Apna Jugaad, a Raipur-based company is trying to popularize this commercial IT solution for industrial buying and selling, by making the transactions quick and efficient.
Vendors and clients can register on the portal and start bidding once their enterprises have been authenticated by the administrators. After vendors list their products and services, clients begin enquiry and proceed with negotiations. The system issues a stipulated deadline based on its algorithms. This may be extended if there are no bids. The bids or quotes are kept confidential to ensure smooth transactions.
Client and vendors can also chat on the portal, which can keep track of negotiations. It also allows multiple bids . One can schedule auctions for later dates and the history of each auction is available, to develop strategies for future auctions.
“Our system encourages healthy competition with complete transparency, saves time and money, and comprehensive data allows businesses to make decisions faster,” said Vishwanath, explaining the system’s benefits. The company also has an app.

He further said it is beneficial for users and create healthy competition among buyers and sellers, access to vast and ever growing vendor database, transparent and automated process to bring down cycle time and price. It reduces negotiation time and enhance decision making. Technology enablement at work place to improve effectiveness of teams. Eliminate overhead cost of your vendors viz. Travel, Stay, Time, etc. Data mining to understand the past trends and stakeholders behavious.

He said flexible bidding slabs for buyers. Work flow based approval, concurrent multiple auctions, unlimited time extensions, auction-wise OTP authentication by registered mobile & email. Chat facility during auction and chat conversation part of auction history. Bidders confidentiality maintained with auctioning team.

He said three step processes i.e. client view, vendor view available in auction dashboard. Bidders/vendor can use mobile app also by singing and access to live tender, e-procurement and e-auction. They also shared with participants about organizations using Apna Jugaad tool successful are Sarda Group (Raipur) for item Industrial Spares; HITPPL (Hinganghat) for item Civil Construction & Gimatex Industries Pvt. Ltd, Hinganthat for item  Transformer / cable / raw material.

Mr Viswanath said reverse auction is competitive tool which can enable reduced negotiation / lead time, encourage healthy competition among vendors and provide tangible / measurable savings to the user.

Mr Rajesh Rathi, Sr Product Head, Apna Jugaad also shown online demonstration. Mr Mohd Azaruddin assisted during presentation. The program was attended by owners/ decision makers of industries from SMS Envrocare Ltd., Sharda Shree Ispat Ltd., Eshan Minerals Pvt Ltd., Anand Technomarketing Pvt Ltd., See Tech Solutions, Unijules Life Science ltd., Eros Infrastructure Pvt Ltd., Karran Enterprises & Infrastructure Nagpur Jayaswals Neco Ltd and many more.

Earlier, Mr Pratik Tapadia, Chairman, VIA Knowledge Forum gave his welcome address and briefed about the online e-tendering and auction of Apna Jugaad, which is cost saving and effective for users. Dr Suhas Buddhe, Hon. Secretary – VIA welcomed Mr Viswanath Ch V K with floral welcome. Mr Pratik Tapadia also summed up the meeting and proposed a vote of thanks.

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