Procurement of Faster Tendering

1. Procurement of Faster Tendering Procurement of Faster Tendering 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. 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.

2. 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. 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.