Here's an FAQ on FAAB stuff in myfantasyleague.
So, not sure this would add tasks as much as change them.
Currently, you have to pay attention to the timer and when someone has made a successful bid, you manually go into mfl and add that person (and corresponding salary) to the owner's roster, yes?
If we use mfl as the mechnasim to put in blind bids, then it should be able to do those steps for you. However, I assume you would still have to enter the contract years. I could be wrong; I haven't seen the interface set up in mfl before, it may just be another field you need to enter when making a bid.
I know there are other little things on the commish side to at least be aware of but for the most part think the framework is already there.