Anytime Auction M-SaaS Solution for Online Bidding
DETAILS ABOUT INITIATIVE/WORK FOR WHICH NOMINATED Title Of The Initiative/Work Undertaken : Anytime Auction M-SaaS Solution for Online Bidding Time Duration : Only 29 days Timed Auctions with real-time Bidding & Purchases. (E) Bidder Registration OTP Based Bidder Registration with mobile number and email id. Bidder Login & Profile Management, with provision to reset the password. Bidder Profile Creation for categories of Individual type or JointFirm/Company/Association/Society Bidders. Bidder Authentication with mandatory PAN, Aadhaar, and Firm registration documents, etc. Configurable Workflow for Bidder Profile Approval within the Auctioneerauthorities. Bank Account/s Declaration for Payments and Refunds by Bidder. Configurable Workflow of Bidder Bank Account Approval within the AuctioneerAuthorities. (F) Participation & Bidding Intelligent dashboards to view live and upcoming auctions for Bidder as well as Auctioneer. Simultaneous bidding on multiple items in one screen. Online modes of Fee Payments for Auction such as Participation fee, Earnest money deposit, other charges. Advanced and Easy Platform for participating in Live Bidding displaying rank, current bid amount and highest order with the counting clock timer. Auto Incremental Bidding with Time Extension Feature. Simultaneous Bidding hits by multiple Bidders at a time. (G)Auction Alerts/ Notifications Mobile and Email notification to all registered bidders during the auction informing about latest bid and rank. Automated SMS and Email notification to Bidder on Auction Decision, SuccessfulPayments. Instant SMS/Email Notifications to the successful Bidder for schedule instalments. Fast Accessible platforms to Bidder and Auctioneer with latest auction updates/alerts. Identification Of The Problem And Need For Innovation/Work : As Jaisalmer is a big tourist place having many opportunities of raising business in many sectors, Investors are ready to invest here, but previously we did not have an online system. The Department used to sell its land by conducting physical auction in the city. This was a time consuming and a very long process. In offline process a physical auction has to be conducted for which advertisement in newspaper and by other mode is only provided to investors which leads to a limited clientele. In this process investors have to make DD from Banks and then deposit same in office and then back to site where auction is going on. As due to lack of advertisement and hectic process only few investors come for bidding, Which leads to low bidding and departments has to sold their land on low rates due to lack of competition. Due to this departments not achieve the desired goal and business of Jaisalmer is also suffer as big parties not participating for the same. Keeping in mind all these issues we planned to go for online platform of E auction. We planned a hassle-free platform and implement same. An e-auction provides procurement professionals with competitive prices for their land, pitching the bidder directly against each other to see who can offer the highest prices. It also streamlines the procurement process and saves time. Online auction saves time and money for both buyers and sellers. Buyers do not need to travel to participate in the auction while sellers do not need to set up a live event. Online auction saves time and money for both buyers and sellers. As a result we have received a big success in a 4 to 5 months we have sale almost 350 properties with a good return. Implementation Of The Intervention : The software enables the bidder and seller to do the following:- 1. Bidder: Bidder can search for a product Bidder can view product details Bidder can modify bid amount Bidder can make a bid for product Bidder can edit profile information. Pay Online Get Refund online 2 Seller: Seller can post a product Seller can specify time and price of the bidding Seller can view bidding information Seller can edit profile information. Can receive online payment reconciliation of same SYSTEM IMPLEMENTATION The proposed system helps the bidders to bid in fast and increase their chances to make a successful bid by suggesting a bid price and helps the seller to achieve maximum profit. Along with the tools that have been used based on the analysis and implementation environment.The proposed system offers excellent advantages for the support of system development. The user have to register as a bidder or seller to be start using the proposed system.The proposed system puts a user (bidder or seller) on the welcome web page from where a registered user (bidder or seller) can be verified by the proposed system site to start a protected session (log in) . An unregistered user has to fill the form of the registration to use the system. Output And Outcome Of The Initiative/Intervention & Impact On Beneficiary : Live and online auctionis a very useful functionality to ease bidding process. The benefits of choosing to go online are as follows:- 1.Municipal Council Jaisalmer has earned around 65 crore rupees smoothly by selling 350 plots in a very transparent manner through online auction. 2.More buyers: As websites are accessible to larger audience, larger set of people will be able to participate in an online auction. People, who are small scale buyers or stay at home buyers, etc., are more likely to bid online. 3.Larger reach: Online auctions reach buyers from around the world. 4.Convenience: Buyers can bid when and where they want and bid on multiple auctions in the same day. 5.Exposure: Buyers can search and find plot of interest 6.Instant engagement from marketing: Bidders can go from an email to bidding in 10 seconds, so they won’t forget about the auction. 7.Longer bidding window: Online bidding can stay open for as long as you want. Longer bidding means more chances for bidders to find what they want and engage. And, this allows for buyers to do their homework and make informed decisions. Strategy Opted To Ensure Accountability, Transparency, Timeline, Accessibility And Responsiveness At Various Levels : ONLINE AUCTION SYSTEM brings in transparency, accessibility and responsiveness. For accountability the following steps were taken:- 1. Form a Procurement Committee Nagar Parishad, Jaisalmer created a team whose only job is to shortlist auction items. This team starts procuring items 1 month before the event, allowing plenty of time to secure the variety of items needed to entice auction crowd. 2.Review past Auction performance By looking at past performance, we got a clue as to what kinds of items were most popular with our bidder and what items we should begin to seek. Those are likely to sell well again. Team observed: Which plot had the most bids? Which plot had no bids? Which plot met or exceeded their value? Determine the Fair Market Value Determining the Fair Market Value (FMV) of our items determine our pricing strategy for each item. The FMV is the estimated value of an item based on similar products in the market and is an important reference point when determining a starting bid. Any Technology And System Improvement Applied (Other Than Existing) : The ASP.NET programming language and HTML have been used relying on their features that make them appropriate for this work. The proposed system has been tested in order to measure its usability, where the proposed system was tested by operating on Internet Explorer, Google Chrome and Mozilla Firefox with the host server. Role Of Various Stakeholders : There are three main stakeholders in an online auction: Seller (Department) – A seller lists a plots (or collection of plots) for sale. Bidder – A bidder submits a bid for an item listed by the seller. How Your Intervention Is Replicable And Suitable For Other Parts Of State And It Is Sustainable : Our used system is very much helpful to the other departments as well states. If adopted revenue generation of adopting department increase due to increase of bidder interest. Also online platform will decrease the manpower efforts and increase the accuracy.