Mantis Solutions

Procure: Reverse Auction Platform

Get the most competitive energy supply rates in minutes

When Suppliers Compete, You Win

Traditional energy procurement can be a lengthy and complex process, often taking anywhere from one to six months from initial analysis to contract signing. This extended timeline can drain resources and decision-makers' time.

Mantis' proprietary reverse auction platform, Procure, revolutionizes this process. By streamlining the Request for Proposal (RFP) process, Procure saves your team valuable time and ensures you secure the most favorable rates. With Procure, you'll receive real-time offers from the nation’s top energy suppliers, tailored to your organization’s current needs and future forecasts.

Key Benefits

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Time Savings
Save Time and Resources

Mantis' auctions typically last just 5-10 minutes. With all vendors participating simultaneously, this process ensures you achieve the lowest price while significantly reducing the time and resources required.

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immediate savings
No Obligations or Out of Pocket Expenses

Participation in a reverse auction is completely free, and you have no obligation to sign immediately if the rates aren't favorable.

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Terms and Conditions
Full Transparency

Mantis' platform ensures you see every offer from all participating suppliers, with equal products and terms, so there are no post-auction surprises.

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Detailed Analysis and Live Auction Replay

After the auction, Mantis sends a detailed summary and cost-comparison analysis, along with a video recording of the auction event, directly to your inbox. This allows you to review the results before making final decisions and ensures compliance with any regulatory audits.

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Market Responsiveness

Mantis' auctions are scheduled during favorable market conditions, allowing suppliers to bid with more competitive rates resulting in cost savings for your facility.

Watch Suppliers Bid for Your Business in Real Time

 

01 - Data Collection

Mantis Innovation gathers comprehensive data on your electricity and natural gas usage, along with essential purchasing details, to recommend the best energy products.

02 - Develop Market Strategy

Based on procurement best practices and your risk tolerance, Mantis Innovation suggests the optimal energy products for your business.

03 - Indicative Savings Analysis

After the initial RFP, Mantis Innovation provides a custom report comparing current market conditions to your existing rates.

04 - Reverse Auction Event

A Mantis account executive hosts the live reverse auction via conference call, offering insights on supplier bids, highlighting savings opportunities, and answering questions.

05 - Final Savings Review

A detailed savings analysis based on the auction results is provided to help you make an informed decision.

06 - Contract Execution and Post-Contract Management

Once the winning supplier is selected, Mantis Innovation:

  • Provides the necessary documents for signing
  • Confirms the supplier's booking
  • Verifies account enrollments as the start date nears
  • Continually advises on market conditions to manage energy risk

Additional Insight

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Next Steps

Complimentary Energy Analysis

We offer a complimentary Energy Analysis to analyze your consumption profile and financial goals. We can use this information to qualify you for our reverse auction platform, Procure, based on your portfolio needs.

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