Q1 2023 eAuction Savings Report
Despite the many unknowns that had to be incorporated into negotiations, eAuctions by Scanmarket in Q1 of 2023 reported a significant increase in average savings.
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Despite the many unknowns that had to be incorporated into negotiations, eAuctions by Scanmarket in Q1 of 2023 reported a significant increase in average savings.
2021 saw extreme market conditions and a world slowly emerging from pandemic lockdowns in H2, where global GDP, as well as inflation, began to rise as again.
Q4 2024 marked a shift in eAuction savings performance, with the average savings rate decreasing to 7.63%, down from 19.56% in Q3 and 10.02% in Q4 of 2023.
Data from Scanmarket users around the world have painted a picture of a seller’s marketplace with demand quickly outstripping supply in certain areas.
2024 showcased a year defined by stability and strategic growth across regions, underscoring the importance of eAuctions as a key solution for enhancing resilience and efficiency in global supply chains.
The report found that eRFx, Auction Management, eAuction Functionality, Workflow Management, and Contract Management were some of Scanmarket's strongest capabilities resulting in a 100% Plan to Renew reported by users.