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In view of the rapid expansion of dynamic electronic procurement, it is appropriate to define an e-tendering bidder system. This e-Tendering Contract electronic model of Lotusprocure.in relies on platforms or shared resources online and has proven to be effective both for the private sector and for the public sector because it enables:
Advantages e-tendering bidder system for all:
The main economic benefit of e-procurement & e-tendering bidder system as a service (ie as an electronic platform hosted in the cloud and shared by several public entities through secure Internet communication channels) for public administrations and bidders is the saving up to 20% of the costs of management and adjudication of the procedures.
E -Procurement is the main key part to decide the achievement of a specific business. Various online organizations give a selection of other options to unravel issues identified with dealing with time, acquisition costs, basic leadership, and hazard administration through E-procurement locales. These arrangements help in improving efficiency and streamlining the acquirements process.
People might have the capacity to meet business objectives through customized arrangements relying upon business field and acquiring needs. Such arrangements empower associations in receiving rewards of cost-control and cost following, making portfolios as indicated by arranging sorts and accomplish quicker request handling. E-procurement arrangements give online robotization, adjusting associations to driving measures of e-business, expanding perceivability to corporate consumption and killing double request section prerequisites.
Different services of E-procurement arrangements incorporate customized online list, altered marking down structure, punch out inventory reconciliation, appropriate application joining and level document index information bolster. These arrangements by and large manage areas looking for data with respect to current frameworks, hierarchical procedures, business condition and profile. They may likewise help in actualizing these plans and measures required to guarantee achievement and reserve funds. E-procurement helps in changing over all manual paper – based acquirement system of every one of these perspectives into electronic technique.
E-procurement arrangements can be gotten through different online merchants that give preparing about utilization of different highlights and their points of interest. This causes, organizations to receive most extreme rewards of innovation and limit different imperatives of benefit picks up. E-procurement arrangements likewise enable organizations to dissect their E-procurement, development and spare a lot of printed material to lessen costs.
Online data may enable the client to pick up an unmistakable understanding and learning about E-procurement, including the reasonableness of its utilization as per business purpose. In any case, it is prescribed that organizations break down their needs of such an answer before obtaining it. If not required, it could bring about lost income because of interest in an innovation that was not required.
E-procurement work processes can be characterized, implemented and institutionalized crosswise over whole divisions, and numerous acquirement and production network administration has formed already embraced by a colleague be mechanized. For instance, computerizing buy requests and solicitations electronically decrease the requirement for manual printed material, and the colleague who manages this printed material is allowed to chip away at different assignments.
Also, E-procurement is a more proficient approach to oversee contracts online as it can be utilized to ensure that the greater part of your association’s agreements conform to applicable strategies. Instruments, for example, our own particular Tender Manager ensures that the whole offering process is EU consistent, from online reaction assessment to contract grant. Institutionalizing your procedures through E-procurement strategies will likewise eliminate avoidable authoritative mistakes which can happen with paper-based techniques.
lotusprocure.in shows point by point data on E-Procurement, E-Procurement Advantages, E-Procurement Services and E-Tendering visit lotusprocure.in.
E-Procurement can mean distinctive things to various individuals, it differs in scope, and can be condensed as an interface between organizations for the deal/buy of products and enterprises through an online stage. Most ERP systems now have the capacity to assemble or make e-acquirement arrangements, yet there are additionally countless that can be purchased independently however, it will clearly require greater investment, exertion and budgetary assets outline and construct and to permit interface with your key monetary system.
The extent of a system can differ impressively, yet could incorporate a few or the many of the elements:
The main points of interest are that this will give you more control over yours spend, permits you inside purchaser’s access to every single potential provider in one place and brings various efficiencies into your store network at different levels. The capacity to deal with your providers through the system and to guarantee they were paid in great time will likewise enable your association with your suppler to chain.
There may be some difficulties with any of the best systems. There might be huge IT assets required inside, or a vast spending plan to execute such a system. This would especially be the situation in the event that you are utilizing an independent system, instead of a current module accessible in your ERP system. There may likewise be specialized constraints on yours or your provider side. Providers would need to put appropriate assets in place to empower a fruitful result of any e-obtainment system. The best systems are the straightforward ones for providers to use, as they will prompt a greater amount of your storage network becoming tied up with the undertaking.
In the event that you are considering utilizing an e-tendering system, you should do noteworthy research to ensure you get the correct answer for you. So, doing research and gather much more important information about the Electronic Tendering System, E-Tendering Invoice visit our sit Lotusprocure.in.
Lotusprocure.in e-tendering bidder system has different modules and components. These modules are the site administrator section, Buyer’s section (Employer), bidder’s section (All interested contractor or supplier) and a public view section.
Role in each module is decided for a component for certain extent. Site Administrator can register buyer or bidder and has an own password but can’t access bidding process. A buyer can publish or download or award a tender and to complete this process buyer needs a password. But a buyer can’t access to bidders page. A bidder can submit or modify a submitted bid and needs a password to accomplish these tasks. A bidder can’t access buyers page or not able to delete a bid. The general viewer can only view tenders but not able to access the any of the parts of the bidding process. General viewers don’t require any password to check tenders on the website.
Each of the modules facilitates certain tasks. In the buyer’s section buyer can offer tender notice and offer bid information to the supplier. Here, the all amendments are accomplished by the buyer. Once the Tender notice has generated it is viewable in bidder section. In Bidder section, now the bidder can bid on that tender and all the information is accessible to the bidder which is provided by the buyer. If Bidder needs to change his bid, he can modify, substitute or withdraw the bid any time before the period of bidding process ends. After the completion of a bidding process, bid evaluation is started. In bid evaluation process, the acquired bid is evaluated to award the tender. Once the winning bid is evaluated, buyer generates a notice to the successful bidder.
There are a few advantages are offered by e-tendering bidder system to a buyer. The same benefits are provided by Lotusprocure.in e-tendering bidder system. Lotusprocure.in e-Tendering Contract electronic is included in that.
The information available on Lotusprocure.in site is information about e-procurement, tenders and awarded contracts. This information is made available to the general audience. If anyone has queries regarding e-tendering bidder system, a FAQ section available to learn about the process deeply.
Procurement is a long process and tedious process and so as the RFX. RFX is stand for Request for Information (RFI), Request for Proposal (RFP), Request for Quote (RFQ), and Request for Bid (RFB). RFX is has varied complexity level depending on the requirement of project and inclusion of the factors like how complete the requirement is? How many suppliers are participating? And how much competition is in supplier base.
Each kind of the RFX has a diverse primary goal. The major goal of an RFI is to make best use of potential assessment points while keeping contractor evaluation costs low. The end objective of an RFP is to decide which suppliers are promising to be the most competent of meeting organizational requirements and to choose those suppliers that should be invited to offer bids. The ultimate goal of an RFQ, and an RFB in the public sector, is typically to make an award decision.
The RFX procedure is often facilitated by an e-RFX platform that enables and automates the RFX process. Although there are different dissimilarity between any sampling of RFX platforms & products that a purchaser may select to review, there are a number of commonalities as well. The majority of platforms have a centralized data repository, templates for frequent bids & quotes, survey support, workflow capability, and side-by-side reporting.
Moreover, the more pioneering technologies will arrive with supplier portals that will connect your suppliers in the selection procedure. Not only will they be able to go into their information directly, but they will be able to present suggestions and collaborate with you on process enhancements and innovative thoughts to make more efficient product innovation.
When it comes to improvement, RFX is now one of the least pioneering technologies on the market, but still one of the most significant. The more time you have to concentrate on strategic planning versus tactical functions, the more likely you are to spot innovative results that will accumulate you bushels of money and boost the overall worth of your awards. RFX was one of the large breakthroughs in strategic sourcing automation – & so was the additional introduction of collaborative supplier platforms. The next most important innovation will be the incorporation of business intelligence that will let you distinguish supplier feasibility and value before your initial interaction, so you do not waste time viewing suppliers already recognized to be unsuitable to your line of business.
Every organization required track purchase goods and services. Centralized software solutions have a high up-front licensing fee, expensive implementations, and the level of organizational training necessary to get the full value out of an enterprise-class procurement solution and for that reason, small businesses reject using.
Why do organizations need to automate purchasing?
Purchasing of the goods and services are a very time-consuming process in an organization. The manual process often leads to the mistakes and delays. Many small and midsize businesses (SMBs) can’t justify the cost of software. End-to-end procurement process consists of identification of need, an issue of RFP, response of supplier quote, turned into a contract, and purchase order. E-procurementsolutions automate the whole process and save the time and make it hassle free. It also saves the cost if implemented correctly. Reduce the complexity of transactions. Save organization or company from corporate abuse and fraud. Electronic Tendering System improves operating efficiency. The entire procure-to-pay process is automated by e-procurement solutions. It is clearly proved that automation of purchasing in a business organization helps to make the process effective and efficient.
What is open source procurement?
Small and midsize businesses are also required to make their procurement process easy and efficient to reduce expenditure. But also, the cost of enterprise software is very high and they are discouraged not to use these kinds of solutions. Open source procurement helps these businesses to adopt a solution that does not cost them high. Open source procurement solutions offer a simple and quick way to improve their purchasing processes.
What will an e-procurement solutions consist of in open source procurement?
Most of the e-procurement solutions are able to provide support to specific procurement process in an organization. It includes
Digitization and the Internet have changed many things and so as the purchasing of goods and services in a business as well. Every business required to grow to cope up with the big competition but also required to cut the cost. Electronic Tendering System and e-auctions have been taken place of the manual one and so as the organization adopted the web. Open source procurement leverages the small organizations to keep finances in control. These solutions and systems are fully reliable and efficient. Implementation of emerging technology is always the best way to keep up to date with the world.
Convention tendering is very complex and tricky process, and when it comes to any large organization this manual method of tendering become more stressful. After the introduction of e-procurement, most of the processes become less hectic and less stressful. Implementation of e-procurement helps at all the level of company environment. After the digitization in all the sectors, it was very crucial to serving digital economy in procurement sector as well. Now it has helped with better control, productivity, reduced cost and higher security.
Lotus Procure improved visibility, better control, and fair financial deals in e-Tendering. It manages tendering process online and this has been improved the accessibility of tenders. Enable people to download the tender and then submit the bid using this system without moving or taking so much time. The objective of offering this system is to provide the best value of the money via secure and transparent procurement process. All the multiple procurement needs are fulfilled and handled very effortlessly by the use of e-tender system. Lotus Procure helps to automate the tendering procedure.
In this system firstly suppliers are invited to sign up in the system. This is called the registration process and it is free of cost. Lotus procure is an online internet based tendering system which provides secure access through unique “username” and “password” to each qualified organization. This system is available in English.
Once registered sellers can update their provided information anytime and are recommended to change their “passcode” regularly. Part of the registration method is the recognition of the varieties and classes of goods or services that the corporation is actively offering or selling, using a standardized categorization list offered by the system. This will guarantee that the organization will be able to obtain information regularly about ITBs, market surveys, RFPs, RFQs, notices of the award of contracts, and other data information that is directly significant to the existing business portfolio. All the relevant information is exchanged in digital form.
After registering in the system, a supplier can view the list of tender contracts, awarded contracts, able to quote for tender, able to receive contract information and documentation and send and receive correspondence. Getting started with this system is not that tough, through the tender option supplier can browse the list of tenders and contracts and able to get details in which you are interested. All the tender information is provided in sorted form.
Lotus Procure is the best assistance in the complex tendering process and helps you to reduce the stress of the tendering process and make every step effortless for you. It makes you more focused for a winning bid or finding a contract that matches with your company portfolio. By using Lotus Procure web based e-tendering solution, the intensive task of tendering will become faster and easier. Be the part of the revolution and make better future for your organization.
E-tender system is a virtual tender platform between buyers and suppliers. It is an online interface which makes advertise about the commercial, governmental and global tenders. So this kind of system makes advertisements about upcoming tenders in which you are interested. The system used to make suppliers aware about the tender is known as E-tender alert services.
The electronic tender system replaces the old manual tender system and creates an efficient environment for both tender buyers and suppliers. It automates the process and overcomes the drawbacks of old ones. Also, the tender bidding system has been transformed completely and enabled the procumbent process to connect with the larger network. Electronic Tendering Bidding system has facilitated the whole system online and one of the hassle-free bidding environment between buyer and seller. E-tender is a complex and tedious process and it does not finish over here. Other steps also followed by using online space. After the completion of bidding process and selection of the winning the bid, payment process has taken place. All the payments are done digitally using the internet. This process is highly secure and efficient and effective as well. This process is known as e-tendering invoice system.
Before going to understand e-Tendering Invoice system we need to understand what is e-Invoicing?
e-Invoicing offers the real switch from manual paper to fully digital communication for main business processes in the procurement phase. Using an e-Invoicing system, a supplier can send an electronic invoice and a buyer is able to receive, verify and pay it online. Many electronic Invoicing solutions deal with country-specific legislation, often creating barriers to cross-border trade.
e-Tendering Invoice system is also same as mentioned above or we can say invoicing electronically in e-procurements is known as e-tender invoicing.
What are the benefits of e-Tendering Invoice system in electronic Tendering?
e-Tendering Invoice system and Electronic Tendering Bidding system
In Electronic Tendering Bidding system, in the post-award procurement phase when the tender assigned to contractors an e-invoice generated which is paid to the suppliers. A supplier organization sends an e-invoice to a buyer. The invoice shows the buyer reference element to spot the individual who made the purchase. The digital workflow system informs the buyer that an e-invoice has been received. The system is able to match the digital invoice with the proper order. The buyer checks the invoice and verifies the quality of services and/or quantity of goods. The buyer then approves the invoice and the document is electronically processed for payment.
The Internet has provided us a better-connected world and all the business environments are adopting its capabilities and usability by implementing in their business process so as the procurement systems.
E-Tendering contract management system is essential parts of supply chain management that provide saving potential. Contract management system works with managers in supplier relationship, goods, and services that have negotiations. With digital Procurement system, one can maintain on identifying routine factors. These performance factors are significant for successful deliverance and organization of the benefits.
Even when someone does conceptual business economics work with acute proficiency, still it is very challenging to doing same work repeatedly. Transformations are necessary for every supply chain manager rather than only improving operations to produce great results while handling constant pressure of maintaining low costs.
Tender contracts are always and poorly organized in a firm. In a company, there are already some active agreements which if counted then merely said to be hundreds. If we total them all, thousands of contract clauses and terms and conditions for smaller companies. These contract clauses must be monitored before enforcement. E-procurement managers understand that putting logical prices on goods is only a section of strategic sourcing action. The tools in e-tender contract management help companies accomplish the majority out of those contract terms, which purchasers spend their complete effort discussing and negotiating.
What are the Transactional benefits?
Electronic procurement helps the paying procedure of a purchase happen on the internet. Businesses may use web-based transaction tools and e-Tendering Invoice, where goods or services are fundamentally selected from catalogs that are pre-sourced and provided for electronic approval. The system then is linked to an Enterprise resource planning system’s back-end to facilitate entry, e-Tendering Invoice payments, and collect procurement management information.
Easy to access Contract agreements
After the contracts are signed, businesses with contract management tools usually store hard copies in different places. It gets filed by legal departments, stacked by procurement managers, and transported to stockholders. With contract management, companies can organize and store contract records in a centralized and easily accessible repository. One can just click on the mouse to review and download agreements, by guessing where the contract documents are located and giving the business a visibility where contracts are kept at that instant.
A major problem lies in agreement and unconventional expenses in any firm. It is not because employees on purpose overspend on a procedure, but because they are not alert. With electronic-procurement, one has a system like catalogs for processing standard orders.
Managing information advantages
Key identifiers may be product codes, cost centers, and so on. The unique identifier codes decrease errors and offer exceptionally detailed daily accessible data. This is needed to make the best use of data for strategic sourcing. Electronic-procurement effectively implemented will provide high-end comprehensive information. It will put off extra expenses on functions like data warehousing or mining.
Smarter spending and more managed database
With contract management system, you have to penetrate and organizing functionalities and can rapidly locate what documents are required. With a contented catalog of the organization’s agreements, the first way to reduce off-contract operating expense can be formulated. It will help contract managers to promptly search all types of agreements being searched. Furthermore, with a prepared database, businesses may be capable of paying out smartly.
What is e-Auction?
Electronic auctions are web-based auctions where preferred bidders submit offers digitally against the buyer’s specification. All announcements following and including the request to pre-qualified bidders to propose new costs and/or values must be digital. E-Auction can be used for buying/selling movable and immovable properties.
What is the difference between in the auction processes, the conventional one and the online auction?
e-Auction offers the same bidding process as done in the offline bidding process. One of the main differences between is, the bidding increased sitting in front of PC. The auction participants are able to check the latest price and able to quote the higher price to be the top bidder.
Post e-auction activities
After the auction closed the winner of the highest bid intimated by the bank and Bidder needs to sign the relevant documents to finish the process and bidder have to contact the bank directly.
Advantages of e-auction –
Limitations of electronic Auction-
What is the role of Digital Signature certificates in E-auctions?
To make this process secure, DSC or Digital Signature Certificates are used. These certificates are digital equivalent of physical or paper certificates. Examples of physical certificates are passports, drivers’ licenses or membership cards. DSC serves as proof of identity of an entity for a certain reason; for eg. , a driver’s license identifies the person who can legally drive on the road in a particular country. Likewise, a digital certificate (electronic format) can be presented digitally to prove someone’s identity, to access data or services online or to sign certain documents electronically.
Auction is a bit tedious process but due to advancement of the technology it has become efficient, executable, strategic process. E-Auction is one of the convenient forms of the traditional process and can be executed remotely.