E-tendering system has become a most popular system of tender management under the public procurement domain. E-tendering has helped organisations to manage their procurement needs more efficiently and effectively.
The manual tender process can be long and cumbersome and is often too costly. Therefore replacing manual tendering process with that of electronic medium has become the need of the time. With a highly automated e-Tendering system, tender specification, advertising, tender aggregation as well as the evaluation and placing of the contract can be prepared at ease.
What is E- tendering?
An internet based process wherein the complete tendering process; from advertising to receiving and submitting tender-related information are done online. This enables firms to be more efficient as paper-based transactions are reduced or eliminated, facilitating for a more speedy exchange of information.
E-tenders in the public sector has seen rapid growth in recent years. E-procurement projects are often part of the country’s larger e-Government efforts to better serve its citizens and businesses in the digital economy.
Benefits of E- tendering
1. Implementing an e- tendering system benefits all levels of an organisation. E- tendering systems offer improved spend visibility and control and help finance officers match purchases with purchase orders, receipts and job tickets.
2. Reduced costs as compared to traditional paper-based response process
Easy to use software interface
Simplified tender and procurement process for both suppliers and procurement officers.
3. Round-the-clock quick and easy access to tendering information.
Regular reminders of important deadlines in the tender award process.
Provides more secure access to tender information than traditional hard copy process.
4. Responses from suppliers remain secure and privileged until the closing date.
5. All communications can be tracked in a clear legally binding audit trail
Implementing an E- Tendering system benefits all levels of an organisation. E- tendering systems offer improved spend visibility and control and help finance officers match purchases with purchase orders, receipts and job tickets