support for various types of auctions like public, private, choose winner
eMail Notifications on major events
Watchlist for sellers on Categories and Auctions
pay for listing or featured Auctions
and many more...
A reverse auction (also called procurement auction, e-auction, sourcing event, e-sourcing or eRA) is a tool used in industrial business-to-business procurement. It is a type of auction in which the role of the buyer and seller are reversed, with the primary objective to drive purchase prices downward. In a reverse auction, sellers compete to obtain business.
Reverse auction is a tool used by many purchasing and supply management organizations for spend management, as part of strategic sourcing and overall supply management activities.
In a reverse auction, a buyer contracts with a market maker to help make the necessary preparations to conduct the reverse auction. This includes: finding new suppliers, training new and incumbent suppliers, organizing the auction, managing the auction event, and providing auction data to buyers to facilitate decision making.
The market maker, on behalf of the buyer, issues a request for quotation (RFQ) to purchase a particular item or group of items (called a "lot"). At the designated day and time, several suppliers, typically 5-20, log on to the auction site and will input several quotes over a 30-90 minute period. These quotes reflect the prices at which they are willing to supply the requested good or service.
Quoting performed in real-time via the Internet results in dynamic bidding. This helps achieve rapid downward price pressure that is not normally attainable using traditional static 3-quote paper-based bidding processes.
The prices that buyers obtain in the reverse auction reflect the narrow market which it created at the moment in time when the auction is held. Thus, it is possible that better value - i.e. lower prices, as well as better quality, delivery performance, technical capabilities, etc. - could be obtained from suppliers not engaged in the bidding or by other means such as collaborative cost management and joint process improvement.
The buyer may award contracts to the supplier who bid the lowest price. Or, a buyer could award contracts to suppliers who bid higher prices depending upon the buyer's specific needs with regards to quality, lead-time, capacity, or other value-adding capabilities. However, buyers frequently award contracts to incumbent (i.e. current) suppliers, even if prices are higher than the lowest bids, because the switching costs to move work to a new supplier are higher than the potential savings that can be realized.
Reverse Auction Factory comes as a new product to complete our Auction Components Suite.
The main difference in comparison to the Auction Factory is that with the Reverse version, end-users can post their requests in order to obtain the best price for needed services or desired products. This means that they can choose the lowest price or what they consider would be the best deal for them.
The component can be used to organize auction in different fields of interest. Here just a couple of examples:
In order to provide maximum flexibility to all the administrators, Reverse Auction also uses a template engine. Detailed information about how to personalize the Reverse Auction Extension can be found here, in the Template Tutorial.
Reverse Auction Factory 4.1.0 released on April 22, 2014.
Default template made responsive and improved visual elements.
Added gateway name for order details page.
Reverse Auction Factory 4.0.6 released on October 31, 2013.
Added: Debtor plugin.
Added: auto extend auctions.
Changed refreshing currencies rates from Google to Yahoo API due to discontinued service.
Improved several features like commissions, price separators, payment gateway names, replaced icons from CB plugin 'TaskPad' with separated text in order to make this translatable, sidebar width.
Reverse Auction Factory 4.0.5 released on August 6, 2013.
New feature: search users on map.
New feature: settings for choosing what type of users will be searched (normal searching and searching on map).
Added: descriptive text for search users form to describe what are the fields where the search is made.
Reverse Auction Factory 4.0.4 released on July 10, 2013.
Added: list of all available markers from same point on map, instead of the last one added.
Fixed issues regarding invite users drop-down (list only users which are in the 'bidders' group) if ACL is turned ON, otherwise list all users without any restriction, if max. price is not specified or is 0.00 display accordingly message (is not specified), prevent resetting selected seller from new auction form when category field is changed, prevent redirection to 'listauctions' when reset filters is used in 'mybids' and 'mywonbids' tasks, list only approved auctions in modules, change mailer for 'Notify all users' feature, removed wrong displaying for Categories drop-down field in search form.
Reverse Auction Factory 4.0.2 released on July 4, 2013.
Added tooltip for 2 icons in categories tree, info message for best bid in case no bids made.
Fixed issues regarding CB integration, expired auctions are not showing anymore on map listing, etc.
Reverse Auction Factory 4.0.1 released on May 20, 2013.
Fixed issue regarding matching payment items currency with default currency, listing users fields after search using CB integration, lList activity domains in search users for case of using profile integration, prevent MySSL error when is used 'name' field for profile integration.
Reverse Auction Factory 4.0.0 released on April 5, 2013.
Support for Joomla 3.0.x.
Reverse Auction Factory 3.4.1 released on December 13, 2012.
New feature: display full path of categories and apply breadcrumb style.
Fixed issues regarding Google Maps, expired auctions displayed in modules and in auctions on maps, listing auctions from subcategories on map for selected category (parent), replaced category name with categories breadcrumb on auctions markers on map, delete review.
Reverse Auction Factory 3.4.0 released on November 28, 2012.
New feature: Users can now withdraw funds from their balance.
New feature: Option to choose person which will pay commission after bid is accepted, either the Auctioneer or the Winner.
Improved layout for the auction details, auction list and search page.
Fixed issues regarding Love Factory integration, etc.
Reverse Auction Factory 3.3.0 released on October 24, 2012.
New feature: new auction from backend.
New feature: cancel order on frontend.
Improved search map page.
Fixed issue regarding payment history.
Reverse Auction Factory 3.2.0 released on October 10, 2012.
Improved layout on frontend and backend.
Several code optimizations.
Fixed issues regarding no width/height for items (LyteBox Gallery), require main picture.
Reverse Auction Factory 3.1.0 released on September 19, 2012.
New feature: attachments on bids.
New feature: alphabetical filter on category listing.
New feature: "new listing" button for each category.
Fixed several issues including on pay/bid, location on map, category listing, picture size limit, price search, payment items, My ratings, edit unpublished, refresh form on changing category (when SEF is enabled), redirect to home on sort listing (when SEF is enabled), UTC, etc.
Reverse Auction Factory 3.0.1 released on June 1, 2012.
New Search module.
Translatable options for custom fields.
Fixed issues regarding redirects when SEF enabled, custom fields, custom fields with category, upload NDA's, attachments and pictures, overwriting main image on auction edit, etc.
Reverse Auction Factory 3.0.0 released on April 1, 2012.
Support for Joomla 2.5.x.
New code base.
Improved custom field and positions management.
NOTE: At this version the Invites feature introduced in version 2.0.0 is not available.
Reverse Auction Factory 2.0.0 released on November 18, 2011.
New Product Concept.
New feature: Invites (when a new auction is created or on editing an existing one, the seller or the admin can use the invite interface, with an option to restrict sellers from editing and deleting their auctions. Administrator is able to edit and add new auction under certain seller account from back-end now, where these types of auctions will be having a list of invited users, users which then will be able to access the auction as view and bid. Users will be notified regarding the invite under their profile and with an email).
Fixed several issues including IPN on PayPal, save settings when using TinyMCE editor, etc.
Reverse Auction Factory 1.6.4 released on November 14, 2011.
Fixed issues regarding search users, rating not visible when profile was managed with CB, NDA files not keeping their original file name/extension, all ratings set to 0.
Included SQL upgrade script.
Reverse Auction Factory 1.6.3 released on September 12, 2011.
Fixed issues regarding send notice to seller after auction is closed, translate pricing item names, display "upgrade featured" button only if plugin is enabled.
Reverse Auction Factory 1.6.2 released on August 22, 2011.
Fixed issues regrading field validation, menu Item detection, etc.
Reverse Auction Factory 1.6.1 released on July 27, 2011.
Several code optimizations.
Fixed issues regarding display on Google maps miles/km, custom fields select list, RSS feed, custom field numeric validation.
Reverse Auction Factory 1.6.0 released on July 21, 2011.
New code-base (most of the old code-base was rewritten).
New payment gateway: Sagepay
Major code improvements and optimizations.
Multiple issues fixed.
Reverse Auction Factory 1.5.9 released on April 19, 2011.
New feature: My bis and My Watchlist tab under My Auctions.
New feature: custom fields per category (default all chosen).
New feature: added German Date format.
New feature: added Daily CRON.
Fixed issues regarding Mail on received messages, several language strings added in ini-file, removed highest bid from template, added Nr. Bidders in template, Max. picture size display on new auctions, Republish auctions (pictures get lost, custom field), Several Error messages detailed, Broadcast message removed hard-coded prefix (moved to template), custom fields in Auction Edit not showing, Tree category module shows unpublished categories, CRON sending every time notifications regarding expiring auctions, etc.
Reverse Auction Factory 1.5.8 released on March 28, 2011.
Fixed issues regarding link on reported auctions on backend, uploading attachments setting, search auctioneers, search in description, edit auction in the backend, workaround for servers with "php_ini_file" disabled.
Reverse Auction Factory 1.5.7 released on February 11, 2011.
Fixed issues regarding commissions applied in CRON for automatic winner selection enabled, toggle user states disabled while profile unfilled, CRON Date Time site correlated, Google Maps (list auctions filter by category, search by radius optimization: if no results pointed to the searched address, details page: auction coordinates assigned to page, correct redirecting for categories without children to list their contents, missing language definitions.
Reverse Auction Factory 1.5.6 released on January 28, 2011.
Optimization: minimum bid included in details page.
Fixed issues regarding automatic winner selection (CRON reversed setting behavior, not closing the bids too), custom fields assigned on category (was displaying all, at save required fields of not selected category).
Reverse Auction Factory 1.5.5 released on December 21, 2010.
Fixed several issues regarding models/user.php (query for custom fields from section "user_profile"), missing enctype="multipart/form-data" from the userdetails templates for custom field image type, missing language definitions in CB plugins, etc.
Reverse Auction Factory 1.5.4 released on November 25, 2010.
Fixed several issues including missing filter category links, SEF not parsed for parent categories and categories containing "&", Price Listing is saving published items, ACL missing tasks, Price Listing duplicate posts, CB Tabs installation issues on Older versions, CB Plugins update (Google Tab and Taskpad), missing toolbar for new category on backend, template fix for private/public, etc.
Reverse Auction Factory 1.5.3 released on November 19, 2010.
Improved Price Commission.
Optimized counting query.
Fixed several issues including filter by category withSEF, Recaptcha ignored for logged users, Watchlist notifications on send bid, Contact Price Purchase, select saved country in user profile, etc.
Reverse Auction Factory 1.5.2 released on November 11, 2010.
New feature: new theme "Autumn".
New feature: Search Plugin.
New feature: Image Disable Option.
Fixed issues regarding Google maps radius settings, end time validation, missing winner information on a won auction page, label still showing for disabled Auction type and auction publishing options, install notices.
Reverse Auction Factory 1.5.1 released on August 26, 2010.
Optimized admin redirect to setup profile component (CB or Love Factory) .
Optimized Layout for My Won Bids.
Optimized Custom Fields Manager.
Improved Profile update.
Fixed issues regarding purging cache on admin, admin mail settings shortcuts, CB tabs updated (missing images, itemid's, new rating display, user verified, bidder, seller status on taskpad tab), router.php (edit auction and report), ACL missing tasks, missing language definitions.
Reverse Auction Factory 1.5.0 released on August 19, 2010.
Product release for Joomla 1.5.x exclusively.
Themes (available default, azuro and green).
Google Map support (configuration, radius search, view).
Export to XLS (admin only).
Import from CSV (admin only).
Joomfish Integration (on auctions,categories and custom fields tables).
Profile Integrations (CB, Love Factory).
Anti-Spam: Recaptcha and Email Cloaking.
Added 2Checkout Payment Gateway.
Endless Categories Update.
Module mod_rbidstree Full Category Tree (jQuery endless nested categories module).
Reverse Auction Factory 1.4.3 released on May 19, 2010.
New feature: Filter for won auctions.auctioneer after close.
New feature: User ratings task to display all user ratings.
Fixed issues regarding latest 10 ratings displays all ratings instead of 10, user ratings link, country field display if no CB, constant bid_canceled_on replaced with new constant definition bid_auction_closed, cron_action TIME ZONE end date.
Reverse Auction Factory 1.4.2 released on May 6, 2010.
New feature: enable messages between winner and auctioneer after close.
New feature: disable attachment and picture.
Option Published hard-coded.
Fixed issues regarding GMT hour settings, RSS feeds, currency on commission plugin, watchlist notices in save auction not in CRON, user area of expertise not displaying safe HTML in profile edit.
Reverse Auction Factory 1.4.1 released on December 28, 2009.
New feature: RSS Listing
Fixed issues regarding counting inconsistency, currency on add manual payment to commission plugin, update balance on commission, etc.
Reverse Auction Factory 1.4.0 released on October 21, 2009.
New feature: message sending added to settings.
Improved functions like display winning bid in backend, timezone optimization, etc.
Fixed several issues including payment (displaying payment form and payment type), modules displaying unpublished auctions, messaging issue on bid list replay, added job_deadline in tpl, mail cattitle, NDA, ACL, etc.
Reverse Auction Factory 1.3.9 released on May 25, 2009.
New feature: Gallery Plugin, Gallery settings in backend.
New feature: New Gallery Mootool.
Improved quicker and lighter coding; rbidsVersionCheck replaced with JOOMLA_RV_VERSION.
New Template available.
Enable counter and display number of auctions for all categories modules.
Fixed several issues including Short Open tags, watch category, tags filter with spaces search when trimmed and display results (twice), search after country and city without CB, quickButton (in J!1.0) finding JOOMLA_RV_VERSION, including file Router.php, CB date format my auctions & my watchlist, installer CB plugin Google map, short open tags at modul, ACL for J!1.5.11, plugin commission with values for Verified and Powerseller, users statutes, CB integration for seller and bidder, etc.
Reverse Auction Factory 1.3.8 released on February 4, 2009.
New feature: Differentiated Commissions for Powersellers, verified users and regular users.
New feature: Moneybookers Payment Method.
New feature: Multiple Payment Gateways.
New feature: Notification on manual payment approval.
Set return page to thankyou page.
Fixed issues regarding ACL (no redirecting if user details were not completed), Rating System, display payment manager, automatic set featured auctions in price plugin, reversed Paypal linking emails, cb_plugins renamed, search id display, tag cloud module, installing mod rbids, installing categories module under J1.5, latest auctions module, purge auctions, cancel field database, some uninstall notes.
Reverse Auction Factory 1.3.7 released on December 18, 2008.
New feature: Pay-per-Contact Plugin.
New feature: Pay-per-Bid Plugin.
New feature: added AutoWinner modus to the type of Auction (automatic win lowest bid).
Fixed issues regarding date, rating, template for the mail plugin, own bid validate issue, payment button.
Reverse Auction Factory 1.3.5 released on November 21, 2008.
New feature: ACL Integration (bidder, seller group).
New feature in commission plugin: commissions depending on Currency.
New validation JS alert on higher bid then permitted (more then regular mosmsg message).
Fixed issues regarding: commission plugin (paypal paylog), Search criteria Country and City, on Edit preserve end date, backend payment listing issues, Auction unique number, several other issues.
Reverse Auction Factory 1.3.1 released on November 17, 2008.
Reverse Auction Factory 1.3.0 released on November 5, 2008.
New feature: Commissions Plugin
New feature: TAGS
New module: TAGS Cloud (available only under J! 1.5.x)
Fixed issues regarding CB Tab plugin, IE template, etc.
Reverse Auction Factory 1.2.0 released on October 3, 2008.
New feature: pay for listing
New feature: pay for featured auctions
Fixed issue regarding modules installation under J!1.0
Reverse Auction Factory 1.1.0 released on September 23, 2008.
Support for Joomla 1.5.x Legacy Mode
Reverse Auction Factory 1.0.0 released on August 28, 2008.
Screenshots are representing version 4.0.0 of Reverse Auction Factory.
mohammed (Thursday, 30 January 2014) Rating: no good AUCTION FACTORY
vaclav (Sunday, 01 September 2013) Rating: amazing product! Very cheap solution to create a freelancing site. Thanks the Factory!
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