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E-sourcing event                          Click here to register

An on-line negotiation involving a buyer and many vendors competing among themselves to meet the requirements of sourcing industry is termed as an e-sourcing event. When an electronic auction is resorted for procurement of products or services, then that event is termed as on-line reverse auction with the price bids being revised downwards by a minimum of bid decrement from the stat bid price.

Vendor/ supplier registration
In order to participate in the on-line reverse auctions, you need to be a registered vendor and has to get approved by sourcing industry. For registration as a credible supplier to industry looking for on-line procurement through spiderboom website, click on “register” button provided under “spiderboom login”. You will be taken through web registration form where in you need to provide all details about yourself and the key person authorized to transact on behalf of the organization. Once you enter all the details and agree to the terms of service of spiderboom.com by clicking on the “complete my registration” button, you have taken a step closer to unlocking the benefits through e-commerce. Apart from submitting the web registration form, you are desired to download the registration document by clicking on the “Member Registration Form” link provided, fill, sign and seal and mail it to our administrative office to take you through the registration process. Our team will evaluate your registration and will get in touch with you to understand your offerings.

Industry/ buyer registration:
If you are from an industry wishing to procure through the on-line auction platform of spiderboom, complete your registration as e- procurement - buyer by selecting the appropriate field from drop down menu given against registration type and follow the same procedures as mentioned earlier for registration as e-procurement supplier. Further you shall e-mail to krishna.kumar@spiderboom.com mentioning the products and services you wish to procure through us. Our team will evaluate your registration and will get in touch with you with our service offerings.

Upcoming events
We will put on our website the details of upcoming auctions/ tenders, mentioning the sourcing needs and terms and conditions of procurement of the industry registered with our website. You can click on the link provided with description to download and see the details and terms of on-line procurement auction/ tender notice as put up by the sourcing industry.

Participate in on-line reverse auction / e-tender:
On clearly understanding and agreeing to the terms and condition of the on-line reverse auction/ e-tender, you are desired to sign and seal and return the auction/ tender documents along with any other documents as stipulated by the auction/ tender notice within the timeframe permitted. Our team will scrutinize the documents and on approval by the sourcing industry, you will be entitled to participate in that particular auction for which you have submitted the documents

Place your bids
    You can place your bids from the comfort of your home or office. All you need is a computer and access to internet. You also need to have a web browser IE 6.0 or above loaded on your desktop. Launch the Internet Explorer and enter www.spiderboom.com on the address bar. On the home page enter user name and password in the appropriate fields provided under spiderboom login.
     How ever as a security measure it is always insisted that you change the password before every auction/ tender event. This is to safeguard your interest and security of transactions. To change the password, login the with the user name/password created by you. Then click on “My Profile”. In the web page that opens up, you will find option to update the password. Click on update link provided to update password. Enter old password, new password and reconfirm it. Then click on “Update my Password” button to change the password. Your future log in will be with the new password
     Enter the user name and new password in the fields provided under spiderboom login and click on login button. This will authorize you to access the auction services page. Now click on “My Auction”. This will take you to the web page where you can see the auctions for which you are authorized to participate. You can enter the bid amount on “Your bid” column and click on submit button to let know your bid to the system. Be sure of the amount that you are submitting, as a bid once submitted cannot be withdrawn. If you get a feedback as invalid or prompt to revise your bid, it means that someone else has given a bid lower than you. You are requested to click on “refresh auctions” button at the top of “my auctions” page to know the latest status of your bid. This will refresh the auction page where you will see the lowest bid and bid amount shown in “your bid” column is by a bid decrement than the lowest bid. You can click on submit button to submit your bid and on being accepted it will show a message as to you are the lowest bidder. How ever you are requested to keep refreshing the auction page to know the latest status of your bid till the auction close time.

Auction terminologies:

Reverse auction: All auctions for procurement of products and services to meet the sourcing needs of industry where bid value decreases by a minimum of bid decrement from the previous bid amount is termed as reverse auction.
Auction start time:The predetermined time at which auction will start and auction is open for participants to submit their bid is termed as the auction start time.
Duration of auction: The time span during which bidders can submit their bids and actively participate in the auction, till the scheduled close of auction or till such time as there is continuous period of inactivity is termed as the duration of auction.
Auction close time: The predetermined time at which the auction event will close or till such time after the scheduled close when there is a continuous period of inactivity of minimum 3 minutes from the last scheduled close time in auto-extension period is termed as the auction close time.
Start Bid Price: The opening price for auction is termed as start bid price. You will have to submit a bid below the start bid price to successfully submit a valid bid in reverse auction. Bid decrement: This is fixed value by which bids can be progressively lowered from the start
Bid decrement: This is fixed value by which bids can be progressively lowered from the start bid price.
Auto extension: If a bid is placed within the last 3 minutes of scheduled close of auction, the auction close time will get automatically extended by a period of further 3 minutes from the last scheduled close of auction event. This is to give equal opportunity to all to see that they are outbid and if desired to revise their bid.

Benefits to vendor/seller:

By registering on our website, you gain the following benefits.

Access to leading industries: We will be constantly adding new industry and products to our sourcing list and encourage industries to meet their sourcing requirement through the on-line auction platform.
Wider buyer base: We will aggregate the buying requirements of various industries and keep you posted about their procurement requirements.
Transparent and efficient: The auction platform that we offer is transparent and efficient and there is real time flow of information between seller and buyer.
Increase your sales network: The web platform will act as yet another arm of your marketing team and will supplement your sales effort.
No additional costs: All these come to you at no additional cost. There are no hidden costs and you are not required to pay any service charges as well.

Benefits to industry/buyer:

Market driven prices:Real time competition among interested bidders will ensure that you are purchasing at market driven prices.
Less paper work: On-line reverse auctions involves less paper work and human effort, thereby increasing efficiency.
Reduce lead time of procurement: On-line reverse auctions reduces the buying lead time and thereby helps in quick and frequent procurement to maintain “just in time” purchase practices.
Reduce purchase overheads: You can reduce the purchase overheads by migrating to on-line procurement mode.
Improve your bottomline : All these ensure that you are increasing your profitability by lowering your purchase cost.