SynerTrade announces “ST6 SynerTools eAuctions”, for conducting negotiations via electronic auctions.

SynerTrade presents “ST6 SynerTools eAuctions”, a solution to enhance the final RFP phase by allowing suppliers to compete for business via electronic auction. This module ensures that buyers obtain the best market price, while respecting predefined quality criteria, and assures equal treatment of suppliers and transparency of procedures.

ST6 SynerTools eAuctions offers shortlisted suppliers the possibility to compete for business by submitting their best price, which will automatically be compared on a TCO * (Total Cost of Ownership) basis. ST6 SynerTools eAuctions thus enables:

• Shorter negotiation cycle following a quick, reliable and rigorous process,
• Higher number of competing suppliers,
• Equality and transparency guarantees for all participants,
• A detailed overview of supplier market information.

Designed by buyers for buyers, this software:

• Facilitates handling of equalized auctions thanks to real-time price adjustment taking into account all TCO factors,
• Provides a wide choice of auction strategies: standard or reverse auctions, ranking auctions, Dutch auctions, etc…
• Offers simple and quick set-up thanks to predefined auction strategy templates and an auction set-up assistant.

Users of ST6 SynerTools eAuctions will also benefit from online and telephone support throughout the auction event.
The ST6 SynerTools eAuctions module has been developed using SynerTrade’s expertise and its experience handling thousands of eAuctions since 2000.
Use of a browser and an Internet connection are all that are required to use the ST6 SynerTools eAuctions module, which integrates seamlessly into the SynerTrade 6 software suite.

ST6 SynerTools eAuctions is one of the ten modules of the new software suite SynerTrade 6.

SYNERTRADE 6 :
The new modular software suite, SynerTrade 6, is the ultimate solution on the European ePurchasing market. Its 10 functional modules can be grouped into 4: Sourcing, Procurement, Suppliers Monitoring and Spend Monitoring.
Sourcing is a software suite to: organize, streamline automate the Calls for Tenders management, from requirement fine-tuning to final supplier selection, including the automated value chain and bids analysis.
Procurement is a software suite to optimize costs and deadlines of the procurement process.
Suppliers Monitoring is a set of innovative solutions to benchmark suppliers, measure their performance and manage negotiated contracts.
Spend Monitoring offers a wide range of software solutions to analyze companies total spend managed through heterogeneous IT systems and have a global view of purchasing within the organization.

* The Total Cost of Ownership is a cost which includes all component parts of a manufactured product: raw materials, financial costs, set-up costs (installation, training etc...), running costs, security and quality-related costs, etc…