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FUTURIS
Best Quality - Lowest Price - Fastest Service
Welcome
FUTURIS is a web based online procurement tool designed specifically keeping in mind
the requirements of purchasing/selling of materials, equipments and services.

A simplistic tool designed to be within the reach of MNCs as well as SMEs.
Reverse Auctions
An acquisition/purchasing technique where the purchaser floats
a requirement to minimum 3 supliers and suppliers bid to win the contract
by providing the best possible lowest price.
The Reverse Auction Buzz
started in the early 90's with the website - freemarkets.com.
Now it is widely used in most of the companies
to increase effectiveness and profits in their 
procurement process.
Forward Auctions
Allows for auction of material/equipment even scrap of redundant equipment
wherein bidders/buyers bid increasing amounts to win either a contract or sale 
of equipment/materials. Very useful for manufacturers supplying to a large number of clients.
So..How Does it Work?
Potential participants are identified and screened
before the auction by the buyer/seller.
On Basis of - 
1. Technical compliance
     Certifications
     Capability of execution
2. Financial Viability
     Capacity
     History
3. Market Reputation
     (if data available )
      for reliability.
Auction/ Tender Creation
Buyer floats a tender
to all pre-screened suppliers.
Invites vendors to participate in the auction.
Auction begins with the selected vendors
and is open for a limited period of time.
During this time suppliers may revise their bids
in order to increase their chances of 
winning the auction.
Buyer analyses the auction.
Awards the auction to the Best Candidate.
Benefits of 
FUTURIS Reverse Auctions
All Bidding is Anonymous
Sellers can only see their own
individual ranks and the last price
of bidder
During the auction, Buyer cannot see 
the ranks of  bidders
Buyer has the final word to select
and screen out potentially non compliant
sellers, to maintain quality.
Does the lowest bidder
Always Win?
NO!
The buyer can evaluate the supplier 
on the following mentioned
points and may decide to award the tender 
to a bidder who is not L1.
Infrastructure
to provide the material/Service.
Geographic Location.
Quality.
Delivery Date.
Payment Terms.
Conventional
Practices
Personal relations with potential vendors/suppliers.
Considering a price baseline
by 2-3 competitive quotations in market.
Coercion of suppliers to reduce prices either by claiming
to have quotes lower than offered
OR
highlighting possibilities of future business.
Drawbacks 
1) No proper documentation of the negotiations.

2) What is the real cost of the material/service.

3) Time constraint prevents analysis of offers and bids. 

4) No feedback system to bidders who do not succeed.

5) Lack of transparency and fair play.
FUTURIS 
has the solution to all
 VIBI
 (Virtual Interactive bidding interface)
Negotiations are documented
through vendor bidding history
All the negotiations are closed 
within a span of 30 mins.
FUTURIS is a new assistant 
to all purchasers for negotiations
User friendly interface makes it easy 
for the most beginner level user.
Get the best possible value 
without compromising quality 
of product or service
Thank You

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