Mycrane, a platform for online crane rental, has introduced a new feature called Mycrane Auction.

This feature supports multiple auction types, including reverse auctions, forward auctions, and sprint formats, allowing customers to engage with suppliers in real-time.

The system enables users to receive live bids from verified equipment providers in real time, resulting in cost savings of 10-20 per cent and reduced procurement timelines by up to 60 per cent.

Mycrane Auction also provides enhanced control over timing and scope, side-by-side comparison of all offers, and improved decision-making through a transparent bidding interface.

The module is initially available for crane rental jobs but will soon be extended to include transport services.

Early adopters of reverse auction tools in other industries have reported cost savings of 10-15 per cent, greater supplier transparency, and faster sourcing cycles.

Mycrane expects the feature to be used in around 20-30 per cent of all transactions, especially where speed, complexity, or cost control are key factors.