PERSUIT’s Reverse Auction requires a proposal value used to mark and drive rankings. There are two different proposal values to choose from: Total Price and Comparison Value.
Total Price
- Is a figure that is manually entered by the provider for their proposal.
- Often this is defined as the sum of particular phases or a different calculation that gives the client a good benchmark to compare providers at a high level.
- Total Price is helpful when the client wants to utilize a specific reference in assessing the proposals.
- Instructions and assumptions on how to calculate the Total Price are typically outlined in the pricing section.
- Any revisions to pricing items at the phase level should be reflected in the provider's Total Price calculation. This is particularly important during an auction and should be completed before the auction ends.
Comparison Value
- is a figure that is automatically calculated based on the sum of all the pricing item. However it does not sum hourly rates, rate cards, or discount percentages.
- This simplifies the high-level comparison figure to a simple sum across the items and does not need to be recalculated or updated by providers.
- Comparison Value helps providers and vendors to focus on the individual pricing items that it is composed of.
How do I select Total Price or Comparison Value for my request?
When drafting a request, you'll find the Request Total Price toggle on the Pricing page, under the Pricing details & assumptions text box.
When the toggle is purple, the reverse auction will use Total Price value as its figure. You can then choose the fee type of your preference.
When the toggle is gray, the Comparison Value will be used for the auction. Because this is an automatic sum based on all pricing items, you will not be able to set a fee type for this value.
Once a request has been published, the total price cannot be toggled off or on retrospectively.
Here is an example from the provider side of how Comparison Value updates in real-time as pricing items are revised:
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