E-Bidding and e-Tendering: Procurement Made Virtual

New opportunities are now just an alert away with the online shift of the procurement process.

Tendering is an old tradition. It’s part of the procurement process between the seller and buyers. But tendering is a long, lengthy process full of paperwork. It cuts into time and resources of an organization. But the technological revolution and the internet have changed the entire process. Everything from advertising, processing, bidding and then awarding of tender is done online.

images

The bottom line is to save time. The faster the advertisement reaches the interested organizations, the faster the processing of applicants and then the e-bidding begins. E-Tendering has made the entire process easier and more transparent. Through the online tender services, the information and alerts for new tenders are mailed to the organization on a day-to-day basis. This database has thousands of tenders at any given moment. The electronic tendering system is an easy adaptation of Globalization because with everything in open forum the connection goes beyond the local business. An organization can bid on a tender overseas as long as they have adequate resources.

With online databases for tenders, it’s easy to surf through the virtual web for new business opportunities. However, the tender alert system provided by the online services has proven to be a boon to the small business or business with threats of take-over and mergers looming over them. The bigger organization leads the race due to their reputation and resources.

Once an organization has filled out the online form, they can easily submit the required documents online too. Any query or request for information by the seller or the bidder can be made through the customer services by the online tender portals. This entire e-tendering process has thus enabled a closer and swift interaction on both sides. Where once the process was full of hurdles and monstrous paperwork, today it just needs a person in front of a computer screen and access to the internet. Before the bidding starts, an e-Contract is signed between the seller and e-Tendering bidder. The bidders are two or more.

E-Tendering bidder system has an online open forum/portal where the entire process is visible to the seller and bidders. As a result, there is a very minimal chance of favoritism. The organizations can keep track of various bids and the place their bid according to the best bid that has been placed at a certain time. Once the bidding closes, the seller ranks them according to some pre-determined criteria and then winning the bid is awarded the tender. The e-receipt is sent to the winning bidder who then pays using various online payment portals that are safe and quick.

Thus, organizations save time and still get a fair access to the best tenders, both public and private. The entire system is being made less complex each day and the time that has been saved on paperwork and waiting periods have only contributed to the overall development of the organization. And if one is counting the pros of the e-tendering transparency and a wider connective to business cannot be overlooked.

In an increasingly virtual world, e-Procurement isn’t just a new way but rapidly becoming the only way!

Procurement of Faster Tendering

xlogo.png.pagespeed.ic.G398922IBN

A better and faster collaborative space for an easy procurement process with barely a paperwork, E-tendering has made such an idea into a reality!

Tendering is a complex and exhausting process, or so it was until it all fully automated in the virtual space online. Procurement is the process of purchasing goods and services online. Tendering is a prominent part of this system. However, the traditional system was very long and difficult. But since the introduction of E-tendering, that entire process is now cost-effective, both for the buyers and the sellers. All the activities, like an advertisement, placing the order, bidding and finally the purchase of the tender are completely done online. It cuts back the excess loss of time and the unnecessary paperwork. And since it all happens online in public domain, the process is more transparent than ever. No more underhanded methods to gain the bigger tenders.

images

Various tender service providers are available on the web to provide information about the tenders from across the sectors. These online services have a database of thousands of tenders which is regularly updated. Online tender services match these tenders with the profile or demands of their subscribers and mail the suitable tenders to the organizations, mostly every day. It saves the organizations the time to find the suitable tenders and makes sure that they don’t miss out of good opportunities.

The entire process is simplified even after the tender alerts are sent out to the organization. Complete description about the tenders is at the full disposal of the clients. The online tender services also provide efficient ways to communicate in case of any problem or inquiry. The organization can file their bids online, along with all the documents needed for the tender. An E-agreement is signed between the seller and buyers before the E-bidding starts.

epro-a3

Electronic tendering bidding system has transformed the entire procurement process. It is more transparent than ever. It has enabled organizations to connect and bid internationally. It’s done entirely online between the buyers and the seller.  The organizations can place their best bids and see the others bids with whom they are competing. Once the bidding stops, the seller reviews the bids and awards the tender. The process doesn’t end here but it sure is easier due to the increased web space that organizations are making use.

Rather than the old and traditional billing and mailing ways, the post-award procurement process sees the real change. With help of an E-tendering invoicing system, a digital invoice is then prepared and mailed by a seller. The buyer verifies it and pays using one of the many online payment portals. As a result, the entire process begins, progresses and ends without any waiting periods or a need for physical presence. Both sides make profits and become better connected with even cross-border businesses.

Time, privacy, authenticity, transparency and development, E-procurement has enabled a space where it is only getting better each day. The world is bigger than ever yet more connected than yesterday.

E-tendering and E-bidding: Companions for Better Efficiency

0ae62-xlogo-pagespeed-ic-g398922ibn

Advancement in the internet has thrown the entire process of business to business procurement into a digital overhaul. The automated electronic system has helped bridge the gaps between buyers and suppliers to conduct business in real time.

Whether small or large, the need for tenders is always present in organizations. The tendering process involves collecting and verifying important information before it is accessed and transferred between the buyers and suppliers. The entire system is so complex that the conventional procedures of bidding to evaluation is time-consuming and leave room for mistakes at each step. Thus, the entire process from advertising, receiving and submitting tender related information is done through electronic tendering systems.

E-tendering system replaces all the cumbersome paperwork with electronic alternatives to save time and money. With all the details and documents in an accessible virtual space, the buyers are able to easily store and easily compare all their data on spreadsheets. Now, the whole process of tendering from comparison to evaluation has been automated. The saved time has great returns to the organizations on both sides. E-procurement has resulted in better customer services for the buyers and bidders. Due to this effective structure, the responses to inquiries and clarifications are easily and quickly made within the tender period. It has also improved audit trail, for better integrity of the tendering process.

500xNxe-tendering.png.pagespeed.ic.okczmIC4QF

Various Tender Management Tools are used in the system for faster navigation through one section of the database to another. These tools have also been proven effective in improving the communication between the different members of the team (i.e. service providers and product vendors).  Many sophisticated e-tendering systems try to include complex collaboration functionality using such management tools with the understanding the same tendering documents have to be accessed at various levels and by different people. The entire process of tendering of goods and services has been streamlined so that the responses from buyers and vendors are in a particular format. Tools are used to easily evaluate these formatted data.

E-bidding is another stage of E-procurement done entirely online between the buyer and bidder. It is more efficient than traditional methods, promotes competition and provides an electronic record. It helps make the entire process more transparent by keeping a check on unwanted pressure from third parties and for creating long-term archives of the bids/tenders. The cycle time of the entire process is cut down largely. After all the details about the product and cost are specified online, an E-agreement is signed before the E-bidding starts.

epro-a3

A large number of large and small scale companies have international interests. With E-bidding occurring completely online, it offers more options for international business deals when compared to the traditional bidding process. Payments procedures are easy and quick after the bidding is finished.

Implementing an E-procurement process for tendering and bidding is beneficial at all levels of organizations and has been recognized as such by both the public and the private sector. Thus, even the most mundane tasks have been turned into highly time and cost saving with exciting benefits for the organization.

Electronic Tendering System with Lotus Procure

0ae62-xlogo-pagespeed-ic-g398922ibn

Globalization wave has hit the world hard, time has become the most valuable asset in the frenzy to get tasks done at a rate just above the impossible. Internet is working as the middle man and as the top man. So for better efficiency and cost saving even the lengthy paperbound tender procedure has been made electronic. E-tendering is not only the need but the demand of almost every large and small organizations. The entire process from advertising, receiving and submitting tender related information is done electronic tendering system thus reducing the humongous by creating an e-tendering contract management system and e-tendering invoice system.

images

Know All About E-Tendering in India

0ae62-xlogo-pagespeed-ic-g398922ibn

The E-Tender or Electronic-Tenders is the process of tendering in which the all the activities like advertising of the tender, placing the order and awarding of the tender are done online. It is the totally online process and no paperwork is carried out during this process that means the related documents also submitted online during E-Tender process.

E-Tendering System is hugely adopted by the many Indian public sector companies’ as well private companies. E-Tendering process has many advantages over the traditional tender system. It is regarded more transparent, efficient, fast and easy process than the traditional tendering system.

Why E-Tendering system?

The traditional manual tender process is sometimes can be very long. The procedure sometimes takes two to three month to complete which can affect the costing and excessive burden to both the buyer and company, also it doesn’t have any ease of access to tendering process like the E-Tender process have. The e-tendering process reflects the modern digitalization word thus it is more accurate, transparent. There can be many features in E-Tendering process depend on the E-Tender service provider.

What is E-Procurement:-

In the short words, an E-procurement solution is purchasing the goods and service through online process. E-Procurement process covers processes like auction, reverse auction, catalogs, invoices and all other E-tendering process.

What are the Benefits of E-tender:-

Now as we all know the Electronic tender has many benefits to both suppliers and buyers, some of them are below.

  • Reduce the overall time of tendering process
  • Easy to manage for suppliers like the rejection of the bid, modifying the bid.
  • Quick access to all questions regarding the bid and can answer them instantly.
  • Improved quality of specification of tenders.
  • It is cost effective by reducing the paper process and other expenses.
  • Suppliers can receive the notification of online tenders
  • Suppliers can track their bid online

E- Tendering in India –

E-tendering is now very frequent in India. Many government bodies, as well as private bodies, are now fascinated towards E-tender. Many government bodies use their own E- procurement system but there are some organizations like “Lotus Procure” that make E-Tender process flawless and very easy to operate.

The Lotus Procure is an online platform which makes all the E-Tendering process very accurately like creating the tender, placing the bid and awarding the tender. There are also other benefits using Lotus Procure which you can know to go to their website http://lotusprocure.in .

 

Advantage of E-tendering

xlogo.png.pagespeed.ic.G398922IBN

Electronic tendering, in its least difficult frame, is portrayed as the electronic distributing, imparting, getting to, accepting and submitting of each of the tender  related data and documentation by means of the web, along these lines supplanting the customary paper-based tender  procedures, and accomplishing a more proficient and powerful business prepare for all partners included.

An Electronic tendering system is a gathering of clients, electronic media, computerized information and activities that can be performed, empowering those clients to associate. Activities change the e-tendering framework state. Dangers and conceivable security infringement characterize the subset of activities that change the Electronic tendering framework from secure to shaky states. The productivity of an e-Tender process appears to be all around bolstered globally. Many reviews checks the yearly expenses to customers, producing, duplicate and appropriate tender archives the way our forefathers would have done it (that is, on paper), can be cut by as much as 90% utilizing an e-Tender process.

Public sector associations utilize e-procurement, Electronic tendering for contracts to accomplish advantages, for example, expanded productivity and cost reserve funds (quicker and less expensive) in government acquirement, e-tendering and enhanced straightforwardness (to lessen debasement) in e-offering, acquisition services. E-procurement, e-Tendering in general society segment has seen fast development as of late.

Characteristic feature of Open-Source Software

Open source software which is developed and maintained according to principles of far-reaching user rights, which include the right to alter, copy and distribute the software. This software policy is of interest today, because development of IT over the last ten years has been dominated by the Internet, and the Internet is fundamentally made up of open-source technologies.

The expansion of the Internet has made this network the hub for the information exchange of both enterprises and authorities and increasingly also in important work processes.

Open source today comprises more products than those linked closely to the Internet. There are open-source software, operating systems, cooperation systems and special systems.

At the same time, many of these systems benefit from the Internet, which makes possible digital cooperation between geographically separated units. The characteristic feature of open-source software is that it uses open standards.

The expression open standards means that the principle for the development o f software is established in public forums, in contrast to proprietary (industry) standards, which are kept secret. It also means that it is often possible, through a more or less democratic mechanism, to influence the standard. With e-government, it is necessary to able to read and exchange data without encountering problems. It is therefore appropriate to focus on how public data is exchanged and stored.

We launched an open source project called “LotusProcure”

The time has come to change how governments actualize their obtainment processes and what data they release. They need to the most suitable strategy to address the issues of both the provider and the public. Especially, when special software can so easily promote accountability and transparency.

OSMO IT Solution Pvt. Ltd. is designed to help public administrations in India avoid being locked-in to rigid, closed, and costly Procurement systems.
Lotus Procure is a product of OSMO IT Solution Pvt. Ltd; Lotus Procure is designed to be automated and scalable. Accessibility, transparency of tendering process, electronic documents, detailed reporting – these are benefits of using this e-Procurement. Lotus Procure is flexible enough to handle all government and private sector procurements. Lotus Procure is a great web application, and under this application; government agency can do easily their e-Tenders, e-Auction, RFX Management,)
Lotus Procure is an open source e-procurement, lists public agencies and their respective procurement thresholds. Lotus Procure identifies the amount under which a government agency can purchase a product or a service without having to solicit competitive bids. Lotus Procure implementing a change to procurement system for all government and private sector in the country to first consider use as free of cost on government department end.

 



 

Why Choose Electronic Tendering System

xlogo.png.pagespeed.ic.G398922IBN

An e-Tendering System (or Electronic Tendering System) facilitates the complete tendering process from the advertising of the requirement through to the placing of the contract. This incorporates the trading of every single significant report in electronic configuration.

Electronic tendering system, in its least difficult structure, is depicted as the electronic distributed, conveying, getting to, accepting and submitting of every one of the tender related data and documentation by means of the web, accordingly supplanting the customary paper-based tender procedures, and accomplishing a more proficient and powerful business process for all partners included.

 

500xNxe-tendering.png.pagespeed.ic.okczmIC4QF

 

 

Why Electronic tendering system

Generally the tender procedure was a paper based framework. Nonetheless, a few variables have lead to the expanding utilization of electronic offering, including:

(1) Expanding utilization of innovation crosswise over ventures.

(2) The truth that the extensive trade of data between different gatherings amid offering process implies an electronic framework is more proficient and minimizes paper and waste.

(3) Expanding cases and additionally quantum of defilement crosswise over range.

Electronic tendering system benefits:

  • Reduced tender process duration .
  • Fast and exact pre-capability and assessment, which empowers the dismissal of suppliers that neglect to meet the tender determination .
  • Faster reaction to inquiries and purposes of illumination amid the tender period .
  • Reduction in the work concentrated assignments of receipt, recording and appropriation of tender entries .
  • Reduction of the paper trail on offering works out, diminishing expenses to both gatherings and suppliers .
  • Improved review trail expanding respectability and straightforwardness of the offering procedure .
  • Improved nature of tender determination and supplier reaction .
  • Provision of value administration data.

Benefits of Indent Management System

xlogo.png.pagespeed.ic.G398922IBN

Indent Management System (IMS) is a complete arrangement in e-procurement process. It takes into account totally following and administration of goods, administrations, resources ordered, acquired, in stock and out of stock things.

The e-procurement value chain comprises of Indent Management System, e-Informing, e-Tendering, e-Auctioning, seller administration, index administration, Purchase Order Integration, Order Status, Ship Notice, e-invoicing, e-installment, and contract administration. Indent administration is the work process required in the arrangement of tenders.

swadeshims

Benefits provided by the System

  • Improved proficiency through decreased process duration for preparing tenders
  • Saving in expenses and time, as there is no compelling reason to distribute delicate notification in daily papers.
  • Since bidders take part with namelessness, there is no degree for cartel development.
  • Those who need to delicate can take part openly and valiantly in a reasonable situation.
  • Transparency during the time spent offering.
  • Improvement in work society in all the taking an interest divisions.
  • Build-up of important database on products, administrations, works and temporary workers.
  • Economies of scale because of conglomeration of necessities.
  • Improved access to acquirement data and diagnostic reports

The e-procurement model goes beyond the existing e-tendering process. It includes: