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 totally online process and no paper work 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 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 some time can be very long. The procedure sometime 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. 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 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.