What is reverse auction?

In a traditional auction, multiple buyers compete against each other to buy from a single seller who typically accepts the highest bid. A reverse auction is just the opposite; multiple sellers (suppliers) compete in a transparent forum in real time to offer products/services to a single buyer (agency) at the lowest possible price they are willing to accept. EasiBuy manages and administers the process from start to finish and the transparent nature of the auction yields the most efficient market pricing for public sector agencies.