iAuction - Online Auction Software
INI Technologies offers the next generation ERP Solutions, which allows seamless integration your business functions, business process across the organization and among the business stake holders using powerful features of comm
INI Technologies offers the next generation ERP Solutions, which allows seamless integration your business functions, business process across the organization and among the business stake holders using powerful features of communication, connectivity and web access and even with latest mobile technologies.
We offers, the complete end to end Online Auction Management Solution for the auction management, which helps a company to effectively manage complete life cycle of a Bidding, starting from the processes like Supplier Registration, Buyer Registration, Evaluation. Buyers and seller can be classified in respective categories such as Individuals/Corporate/Traders etc.
Here follows the functional information on Auction Module, we have two flavors of BID Management Software i.e Standard and enhanced.
In standard version, the auction is imitated by the administrator/user of the organization. In Enhanced version, there are Sellers Login and Seller will be initiating the auction of their product.
There is buyer registration and login available in both the versions. In Enhanced version, the administrative company works as centralized control agency in the market place between the seller and buyer, they can set their charges/ fees in the platform based on their business policy either as subscription or as commission. Here the administrator controls the market such as auction dates, time duration etc.
But in standard version, there is no concept of subscription/commission for pure sales on own products, or sourced products on time to time.
Auction Schedules Start date closing dated etc can be set in both the versions.
▪ Auction Scheduling
▪ Product Setup
▪ Publishing the Auction
▪ Auction process
▪ Bidder Registration
▪ Bidder Approval
▪ Real Time Bidding
▪ Bid Submission
▪ Bid Opening
▪ Bid Comparison
▪ Deal Agreement
▪ MIS Reports
Enhanced version has following additional features in addition to the features in the standard.
▪ Seller Registration
▪ Seller Login
▪ Auction Request Submission
▪ Seller listing their products for auction under respective categories
▪ Setting the availability of materials
Seller/Bidder Registration Process: Seller/Bidder can register through web access. Necessary documents can be submitted and verified online. The authorized user have the right to approve the vendor registration. Approved bidders will have privileged access to participate the spot trading.
Seller/ Admin keeps material in Authorized Warehouse: The mode of operation would be so that the seller would unload goods in the warehouse specified by IPSTA and obtain depository receipts for the same.
Security Margins: They then would turn to the platform with offer price as per daily market movements. The buyer, on the other hand would need to pay initial margins of say 10 or 20 % to the association and participate in the auction.
BID Submission: The bidders can submit their BIDS online while participating in the auction. Being it spot, the highest rates will be visible to other bidders and can continue the competitive bidding.
BID Closing: The application, after ascertaining the participation credentials of members, permits them to put offers and bids and ultimately once the price line of both the buyer and seller match, the trades are reported into the system.
Margin refund: Thereafter, the association reports and the goods change hands, payments change hands on the vice versa and the margins are refunded by the system to the buyers.
Buyer/Seller Ranks: Based on the performance and track record the buyers and sellers may be awarded with stars.
Avoids duplicate bid handling of information
Completely eliminates the manual process
Date / time stamping on inwards with all sub entries
User log in area for tracking the details
Role based access rights: Various user levels can be set accordingly to manage each stages of tender
Automated notification alerts for all significant stages of bidding process
Automatic bid evaluation and Shortlisting the bidders for particular bid
iAuction- online auction software offers a ready built online auction website that can be configured and extended. Create your own online auction as a single seller or multi-vendor marketplace, support multiple languages and currencies, develop your own auction style or selling format, includes full invoicing and payment system for sellers and buyers.
iAuction- Auction management software enables you to hold timed online auctions your own personally branded auction platform. It combines all the innovative features of the iAuction online auction system with advanced auction management software providing extensive administrative tools for the comprehensive management of your online auction business.
Our auction management tools provide help for the auctioneer in the following areas:
Data export and reporting
Category management and lot tagging
Content management of other information on the site
We also provide the tools to allow the administrator to track what time the bid was made from the location it was placed.
Whether the bid placed by auto bid
Whether the bid is active- it can be made inactive if made by a rogue bidder
Lot for which the bid was made
Bid date and time