Reverse Auctions
Reverse auctions for regularly sourced items.
Invite approved Australian suppliers into a short, time-boxed event and let them compete on live prices. Best for consumables, packaging, PPE, MRO, fuel and facilities supplies — anywhere the specification is clear and the suppliers are real.
Why reverse auctions work
A reverse auction creates structured price tension. The moment a supplier sees a competitor's lower bid, their willingness to drop their own price increases sharply. The same supplier who told you "this is our best price" by email will often shave another 4% in the live event simply because they can see they are losing.
For Australian SMEs and mid-market buyers, the impact is straightforward: meaningful savings on categories that have never been competitively quoted, and a defensible audit trail of how the decision was made.
What QuickSource gives you
- Approved supplier lists with one-click invitations by email and SMS.
- Live bid board with anonymised supplier rankings, soft close and ceiling/reserve prices.
- Weighted supplier scorecard combining price with delivery, quality, financial and ESG factors.
- Automatic award conversion into a purchase order, exportable to Xero, MYOB or QuickBooks.
- Built-in savings tracker showing realised vs target savings per event and per category.
- Australian-hosted data, ABN supplier checks, and Australian Consumer Law-aware contract templates.
Categories where reverse auctions deliver most
Across hundreds of QuickSource events, the categories with the highest median savings are packaging (11–17%), cleaning chemicals (12–18%), PPE and workwear (9–14%), MRO consumables (10–16%), office supplies (8–13%), uniforms (10–15%) and telecommunications (12–22%).
Reverse auction vs RFQ
An RFQ collects sealed prices once. A reverse auction lets suppliers see the leading bid (without identifying competitors) and update their price in real time. RFQs are quieter and slower; reverse auctions extract more competitive tension and typically deliver larger savings on commoditised items. QuickSource supports both — pick the right tool for the category.