About Us
HomeOur goal is to make procurement transparent, consistent and simple.
Procurem8’s reverse auction software ensures transparency, consistency and simplicity. Suppliers have a greater chance of winning the bid. Purchasers have greater confidence when awarding the bid. Suppliers and Purchasers both win with Procurem8.
Transparent
Purchasers and suppliers know where the market is live and in real time.
Consistent
Purchasers receive and suppliers submit bids based on the same uniform scope.
Simple
Purchasers can create tender events in a few clicks. Suppliers can bid on more tenders, more often.
How Does the Reverse Auction Work?
The Purchaser collates all contract requirements using ProcureM8’s simple, uniform template, making it easy for Suppliers to review and understand the scope.
For example, a Landlord purchasing a cleaning contract can clearly define required cleaning hours by day and time, aligned with Fair Work Commission requirements.
Registered and compliant Suppliers can review the tender requirements before the auction begins, giving them time to assess the contract and prepare their bid.
ProcureM8 conducts the auction, providing a structured and transparent environment for participating Suppliers.
During the auction, Suppliers bid in real time to compete for the contract. Each Supplier can see the current market position and where other bids sit.
Suppliers can update their bid as many times as they choose throughout the auction, creating a transparent and competitive bidding process.
Once the auction is finalised, the Purchaser reviews all submitted bids and compares the available options before making a final decision.
ProcureM8 assists with finalising the process and awarding the contract to the selected Supplier.