ERA Group e-sourcing & reverse auction solutions

Reducing costs during inflationary times is possible

With service providers price gouging in the name of “inflation” and no transparency around why or by how much, sourcing specialists are left with limited options when it comes to optimizing their position as a buyer and containing costs. Or so they think…

According to Jeff Reynolds, Global Enterprise Partner at ERA Group, there is a powerful but highly underutilized tactic available to today’s CPO’s reverse auctions.

While the concept of reverse auctions has been around since the 90’s, few procurement experts have embraced its full benefits. Now, with the advent of AI bringing major upgrades to the process, people are finally turning their heads towards reverse auctions. But if you’re considering a reverse auction for the first time (as you should), Reynolds suggests looking for a procurement suite that combines AI with human intelligence for maximum value.

For more information about ERA e-sourcing, reverse auctions, and why humans and AI work better together, contact Jeff Reynolds today.