The Keelvar team are excited to introduce Autopilot event automation in addition to Scenario and Reporting updates.
Want to see the updates in action? In addition to the article below, you can watch a demonstration video of an Autopilot event setup with multiple rounds of bidding by clicking on this link.
Autopilot event automation
Keelvar can now automate the running of fast paced multi-round RFQ events, automatically awarding rounds based on defined business rules and opening subsequent rounds with updated round feedback. The system will automatically terminate bidding based on the criteria suitable for your event. For example, the event can terminate if there is a minimum number of active bidders or if there has not been a minimum change in total allocated cost after a number of rounds. Along with traditional RFQs and Auctions in Keelvar; this new mechanism provides large flexibility to run advanced events with increased competitive tension.
Autopilot can be enabled from the new Schedule view. This view allows you define your full event schedule.
For the example schedule configured above; the autopilot controlled stage can be monitored on the bidding Dashboard where the full history of Autopilot Bot actions can be viewed. The Autopilot actions can be paused if you want to take back control of the event.
The default schedule allows creation of bidding rounds which can now be individually named. A new setting enables event stages for independent bidding stages within an event. For example, you could have a stage with a single round of bidding lasting 1 week followed by a stage containing a series of 30 minute rounds ending when there hasn't been a bid for 2 rounds.
A new bidding activity page gives an immediate overview of your event. A Dashboard view provides a summary of bidders that have been recently active and bidding actions they have performed. Graphical charts provide an immediate summary of bidder coverage and pricing, changes from the previous round, and activity across rounds.
The Timeline tab provides a history of bidding activity across all bidders and surrogate bids. It displays a graphical view on bid decreases, increases, bid sheet downloads and errors if bidders are failing to submit bids due to validation rules.
The Coverage tab identifies the number of bids on each lot and allows easy filtering and sorting to help find where there is low coverage. In addition, review lowest, average, and highest bids on a particular lot.
It is now possible to configure scenarios pre-publish and also to perform scenario analysis mid round. The scenario results are based on current bids at time of evaluation and will be re-evaluated once the round closes. For each scenario, another baseline scenario can be set. Once the Comparisons button is toggled to On, an inline comparison will appear in the scenarios list.
Award Limitations for Winners
The "to each winner" scoping enables the application of rules to bidders only in the case where they are winning. It can be used for example, to ensure that if a bidder is to win, they must win at least a certain number of lots/turnover/volume.
See below for example rules.
When analysing a scenario, a new Bidder Chart tab will help analyse the allocation of lot and lot shares to bidders. This can be viewed by Cost or number of lots awarded.
Similar the the bidder chart, a new Lot Chart tab will help analyse the allocation from a lot perspective and indicate what bidder is winning a lot or lot share and at what cost. This graph can be viewed by Cost or by Savings and can be filtered by Lot identifier or a lot group.
The Publish view now has an additional option to unpublish the event should you need to make unexpected changes before round one opens.
Enabling or disabling RFI responses is now more configurable. By default, RFI responses can be submitted once the event is published and until the end of round one. However, you can change that to have responses `Always On` should you want to allow bidders to complete responses outside of the default window. Alternatively, you can configure an `Off` option to stop bidders answering RFI questions. For example, you may want to restrict RFI responses so they cannot be answered during round one.
Round announcement emails
We've moved the configuration for sending round announcement notifications to the Event Settings page. Sending of round announcement emails is on by default, but this can be toggled to Off if you do not want a notification to be sent.
Hope you enjoy the improvements in our June release. Keep tuned for further improvements in the near future.