MNJ Software’s solutions provide organizations with opportunities to exploit new channels
for selling products and services. Our expertise and vast experience in the field
of online retailing helps us in developing and customizing solutions that enable
our clients to effectively manage their online auction portals. The online auction
solutions developed by MNJ Software enable the creation of a global community of buyers
With its potential to attract a large global community of sellers and buyers, online
auction houses are being seen by retail and other organizations as a means to supplement
and spread their area of operations. MNJ Software provides solutions that enable clients
to create and manage virtual marketplaces wherein sellers are provided with the
opportunity to offer their products and services on sale, for a specified time period,
to the highest bidder. Buyers can browse through the elaborate online auction catalogues,
containing detailed descriptions and images, and place their bids on selected items.
Both buyers and sellers can view and track the bids made on the products. The solution
provides the buyer with a platform to communicate directly with the seller, before
placing the bid. When the auction period, during which the product is available
for sale, has elapsed, the product is sold to the highest bidder. We ensure that
the solutions offer secure online transaction processing by taking advantage of
the latest Internet security standards, including 128-bit SSL encryption, as well
as emerging credit card processing standards such as SET.
Through our solutions, clients can offer products for auction themselves, or can
serve as facilitators providing a platform wherein buyers and sellers can communicate
and transact with each other.
Auction websites can be of the following types:
Organizations, buyers, sellers etc can avail of our online auction site
development services to enjoy the following benefits:
Reserve: In reverse auction sites, sellers can set the minimum
price at which they are willing to sell their products or services. If the highest
bid does not reach the minimum price, no sale takes place.
- Absolute: In absolute auction websites, products or service are
sold to the highest bidder and are not governed by minimum price factors.
Open: In an open auction, the bidding starts at zero and proceeds
upwards by incremental bids from potential buyers. All buyers are made aware of
the bids and are given an equal chance to increase it.
Dutch: In a Dutch auction, products are initially offered at a
high price, which is then gradually reduced until a bidder offers to buy it. Multiple
identical products are available for sale. The first person to bid is allowed to
purchase the product at the lowest price. This type of auction is useful when a
business is selling a few expensive items with high demand.
MODES OF DEVELOPMENT
- Online auction sites provide companies with access to a large global customer base
thereby enabling them to dispose their surplus inventory in a cost effective manner.
- Helps organizations in gauging customer interest in their products and the price
they are willing to pay thereby enabling them to analyze and forecast trends and
assisting them in the pricing of new products.
- A larger range and variety of products can be housed as compared to traditional
auction methods thereby attracting the attention of a larger potential customer
- Through auction websites potential buyers can place bids at any time, from the convenience
of their homes.
- Online auction houses help create a large community of buyers and sellers across
geographical locations and boundaries. Reduced selling costs and a potentially large
customer base lures sellers to online auction houses. The diversity and range of
products available for sale attracts a large potential customer base.
The online auction software solutions developed by MNJ Software
can serve as plug-ins that need to be integrated with existing websites or can serve
as standalone auction sites. Depending on individual requirements and the complexity
of the solution, MNJ Software offers the following modes of auction web site development:
Some of the key features of our auction software solutions include:
- Off-the-shelf products: Open source packages and third party vendors
offer a wide array of functionalities and features for developing online auction
solutions. Off the shelf products can be easily customized to suit business requirements
thereby lowering development time and leading to higher cost effectiveness. They
are easy to install, have secure, flexible and modular architectures and have easy
to use interfaces.
MNJ Software helps its client to implement online auction solutions by integrating and
customizing the various packages to suit their individual requirements.
Grounds-up development: If the complexity of the solution is high or
if the desired functionalities are not available through off-the-shelf products
or if a more robust and scalable platform is required, the grounds-up development
mode is preferred.
MNJ Software possess the desired knowledge and expertise to develop solutions from scratch,
to meet the individual requirements of clients. Our extensive experience in various
platforms and framework such as the .net framework enable us to offer the best possible
solution to our clients.
- The solutions provided by us enable the creation of virtual markets wherein goods
and services can be offered for sale by individuals or businesses.
- A content management system can be integrated with the solution to enable the auction
house administrators to publish information and announcements on the website.
- Our auction software solutions include an administration console consisting of easy
to use, browser based interfaces that enable the solution administrator to maintain
and manage the online auction house. The administrator can perform various tasks
such as create and manage product categories, view and track buyers and sellers
registered with the site etc.
- Extensive reporting modules to generate reports for site statistics, top sellers,
outstanding reports etc can be integrated with the solution.
- Sellers can list products or services for sale. Images can be uploaded and attached
with the product description. Sellers can specify the dates between which the products
will be available on auction. If desired, sellers can set the minimum bidding price
for the product. They can track the bids made by buyers.
- Extensive search criteria enable potential buyers to search and browse through extensive
auction catalogues. They can also view details and interact with the buyers through
means message boards, chat rooms, email.
- Buyers can place bids online and can either track their bids online or by opting
for alerts such as e-mail or SMS. They can set bidding increments enabling an automatic
increment of their existing bids whenever a bid higher bid is placed by others.
- At the end of the auction time period, the product is sold to the highest bidder
and an e-mail is sent informing the buyer and seller of the same.