The eAuction alone resulted in a 26% saving over the company’s more recent store refurbishment project. On top of this were further time and efficiency savings.

The customer conducted a standard request for quotation (RFQ) exercise, asking its well-known pool of suppliers to complete a ‘Master Bill of Works’ and other documents. Suppliers were also issued with existing and proposed layout plans for the stores included in the project.

Following the RFQ stage, all queries and issues were resolved speedily. Trade Interchange consultants worked with the customer to produce the invitation to eAuction. Suppliers were asked to bid a total value per site for the whole job, covering everything from demolition and removal, building works, plumbing and drainage through to installing sprinkler systems, plastering and decorating and installing new shop fronts.

Trade Interchange ran the eAuction on behalf of its customer who was delighted at the greatly reduced contract price it achieved. Following the eAuction, the suppliers were then required to re-submit the Bill of Works with new pricing to match their final bids.

Tim Hoiles, Operations Director, Trade Interchange commented, “We offer various levels of support for our products, including a fully-managed service where we organise everything involved in facilitating and hosting an online event as we did for this customer. For organisations which haven’t tried eAuctions because they don’t know where to start, this service can help them get one off the ground. It also dramatically reduces the resource buyers need to put into the procurement process while at the same time still delivering enormous savings, like the 26% achieved for this customer.”