Live Auctions on Mondays , Wednesdays and Fridays at 1pm and 3pm There is now an auction at 8pm on Fridays. Kindly fund your wallet to Bid.
  • Friday

    Jun 09, 2023 13:00:00

  • OPPO PHONE + : ₦ 120,000.00
  • Bid Value : ₦ 350.00

    Add to Wishbid

  • Hammer Price: ₦ 2,400.00
  • Friday

    Jun 09, 2023 15:00:00

  • MICROWAVE OVEN : ₦ 80,000.00
  • Bid Value : ₦ 350.00

    Add to Wishbid

  • Hammer Price: ₦ 1,600.00
  • Monday

    Jun 12, 2023 13:00:00

  • HALOGEN - OVEN: ₦ 65,000.00
  • Bid Value : ₦ 350.00

    Add to Wishbid

  • Hammer Price: ₦ 1,300.00

Why E-Auctions Are A Must In 2021: Auction As a Services:


Why E-Auctions Are A Must In 2021: Auction As a Services:

In economically challenging times i.e. COVID-19 pandemic, the main priority for purchasing is to reduce costs. Thus, it is no wonder that the number of buying auctions as a negotiation option to award a tender is increasing. After all, rivalry at an auction can considerably decrease the purchase amount.

Due to the auctions are no longer held on-site, increasing digitalization in the professional environment, but are increasingly organized online. This is an optimistic growth for the purchasing department - electronic auctions are tremendously efficient, fast and also decrease process prices.

In digital purchasing, the "auction as a service" (AaaS) approach leads to major cost and productivity efficiencies. Digitization in buying conserves budgets, strengthens transparency, and saves time and thus compliance in companies.

What is Auction as a Service (AaaS)?

How you or your company can conduct an e-auction:

"Auctions as a Service" providers like Synertrade offer a digital, objectively worked marketplace where buyers and suppliers come together under fixed procedures. The method of AaaS service providers consists of three components:

  • Auction design consulting
  • Training of suppliers & monitoring of the auction
  • Auction software usage

This method removes the need for complex software execution. Employees do not require to be trained; the application is done via mutual browsers with one account.

It is billed per auction, which outcomes in an immediate Return on Investment (ROI).The goal of the online auction is to upsurge competition in an economical manner. Suppliers can contribute in an electronic auction regardless of their location and they can time limit the auction to rapidly get the best possible cost.

For whom is Auction as a Service suitable?

In principle, online auctions are suitable for each industry or sector.

There Are Four Factors That Determine Whether Your RFP Is Suitable For An E-Auction.

  • Number of suppliers
  • Shopping cart
  • Tender
  • Spend volume

Advantages of Auction as a Service

  • This brings numerous advantages. The strengthening of the supplier's competition produces optimal purchasing conditions that lead to a decrease in prices.
  • The digitization of the auction procedure offers the opportunity to filter quickly and easily by conditions, e.g. proximity to the supplier.
  • Companies also advantage from savings in effort and time.

There Are Six Steps To Making Your Online Auction Popular:

  • Specification
  • Preparation
  • Training
  • Auction forms with Auction as a Service
  • Verifiability
  • Efficient use of the service provider


Auction as a service is a major part of purchasing and become more relevant in the years to come. Companies that have recognized the auction are already using it. The several implemented schemes of companies to effectively decrease purchasing prices.

If you want to future-proof your purchasing, book a free session with us here.

2022-01-28 08:06:01