Outsourcing and technology company Xansa says the e-auction, used as part of the tendering process, saved it weeks of work compared to a traditional tender.
More than 30 suppliers were issued with a request for information and a shortlist of nine took part in the two-hour auction.
The final choice was based on a combination of service standards, flexibility, professionalism and price and was awarded to GE Commercial Finance, Fleet Services.
GE will now provide a range of services, including contract hire and accident management for the fleet of cars provided as benefits to managers.
Xansa’s procurement manager David Taylor said industry response to the concept of an e-auction had been positive.
For Xansa, it meant all information submitted was in the same format and easier to manage.
Taylor said: ‘Typically you would build in a minimum of a month or two, depending on the number of suppliers, to finalise pricing. This cuts it down to a couple of hours.
‘We are very happy with the outcome and believe that we have identified the best fleet management solution for us.’
Taylor said he felt e-auctions could work for anyone. He said: ‘There’s no limit. All you require is the knowledge of how auctions work and where to go in the marketplace to get the support you need for your particular type of company.’
GE Fleet Services’ managing director Rich Green said: ‘E-auctions are still a relatively new way of procuring fleet management services but we believe an increasing amount of business will be done this way in the future.
‘An e-auction allows the procurement process to be completed much more quickly than through traditional face-to-face meetings, and place much greater emphasis on exactly what is required and can be delivered.’