Live Event

A live event is the virtual event where bidders and sponsors come together to compete for business.

»To access the live event

Select and expand the project in the Connections and Projects tree and click the Live Event branch to open the Live Event Window.

The Live Event Window

The top of the Live Event window displays the current date and time expressed in your local time zone and one of the following descriptions about the timing of the of the event:

Event begins in [countdown clock]: Iasta SmartSource displays the number of days, hours, minutes, and seconds until the event opens and bidders can submit bids.
Event Underway: The live event is currently going on and bidders are able to submit bids.
Event Closed: The event has closed, bidders can no longer submit bids.

The first table on the Live Event window lists all the lots in the project with the following information:

Status: Live Event Statuses are:

Future: The lot has not yet opened.
Prelim: Preliminary bids are currently being accepted for this lot.
Open: Open bidding is allowed.
Pending: The lot remains in "pending" mode for a user-defined amount of time to allow enough time to re-open the lot if any bidding problems are reported.
Closed: The lot has closed for bidding.

Name: The Lot number and name that corresponds to the list of lots configured by the project sponsors.
Start/Low (High) Bid: Prior to the opening of the lot and until a bid has been submitted that beats the start price, the start price is displayed. After bidding has commenced, the best bid (lower for reverse auctions, higher for standard auctions) is displayed.
Opening Time: Time that open bidding begins.
Closing Time: Time the lot is scheduled to close. This time will change if the automatic time extension is triggered.
Time Left: Amount of time left to bid for each lot. This also accounts for any automatic time extensions.
Bids: The number of bids placed on each lot.
FlexRank: An x-mark indicates the lot is included in the FlexRank feature in the Bid History View area.

Live Event Window

1	The Live Event window displays all of the lots in numbered rows at the on the top of the window. The selected row or lot is highlighted in yellow. To select a different lot, click the lot name.
2	One of the lots may be named something similar to "Total Package." This lot should display your current ranking for all of the lots combined. This lot, though it is closed, will display your current rank for winning all of the business. It combines your pricing for all of the items to give you a ranking based on your total amount. Your ranking for the "Total Package" is very important if all of the items are being awarded to one supplier.
3	Below the rows of lots, there is a small red note which says, "These closing times are subject to 180-second automatic time extensions for all bids." This means, if any bid is placed during the last 180 seconds of the Live Event, the time remaining will automatically reset to 180 seconds. The extensions will occur until no bid is placed during the last 180 seconds of the event. Note that the extension times can vary by lot.
4	The Graph is a visual representation of the Live Event. It is refreshed after every bid. For more information about working with the Live Event graph, refer to Live Event Graph.
5	If FlexRank is enabled for the project, the FlexRank Savings box displays. This shows your current savings based on your original price for the lots you selected in the FlexRank column above. The savings is shown for whether you award the business to a single supplier or to multiple suppliers.
6	The Administrator Messages box where your public messages are displayed in a log for all bidders and spectators.
7	The Instant Message link appears for spectators only. It enables sponsor spectators to send instate messages to the Project Administrator during the live event.
8	The Bid History View is where you can see how bidders rank for the selected lot (Lot Rank), all the bids placed for the selected lot (Lot History), and where bidders rank according to the lots you selected in the FlexRank column above (FlexRank). NOTE: FlexRank may be disabled for your project.

NOTE: The Live Event window for Dutch Auctions shows a different set of information. See Live Event Window for Dutch Auctions for more information.