This year has seen many eSourcing success stories, with both public sector bodies and private companies revealing huge savings following successful eAuction events.

Norfolk County Council revealed that it saved around £218,000 from just two electronic auctions for transport services and the Guardian Government Computing Network reported that an eAuction attracted around 60 operators for contracts to conduct services on 33 school run routes.

At Wax Digital, we have seen our clients drive successful sourcing savings through our on-demand web3 eSourcing platform, which can be delivered as either a managed or customer-driven event.  Oxford University and Friends Provident are amongst customers that have achieved average savings of 37% by utilising eAuctions.

As eTenders and eAuctions are now widely recognised as tactical and strategic tools to enhance savings, it is a great time for us to announce that our web3 eSourcing platform is now available in 10 different languages; Chinese, Dutch, English, French, German, Italian, Polish, Portuguese, Spanish and Turkish. Purchasing from overseas suppliers has become somewhat a necessity in many industries to source the best value products, which means that being able to transcend language barriers between buyers and suppliers is now more important than ever.

It has been an exciting year for eProcurement and eSourcing and with another dip in the sea of recession predicted, it is likely that the popularity of eTenders and eAuctions will continue to grow in 2012, providing a helping hand to businesses and helping to achieve savings when they need them most.