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Saturday, 27 August 2016

Know All About E-Tendering in India




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.
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Tuesday, 16 August 2016

Tender Alert Service Provider in India.





It is very important to get the tender information very fast to every bidder. A fast and reliable source for information is always helpful for the bidders.
therefore for this purpose TenderAlert; service provider in India who provide tender information services as on (Daily Tender Alerts on SMS & Emails all online tenders of Indian States/City on behalf of Area of Work (Civil, Electrical, Mechanical, Medical etc..) as per Tender Keywords like; Building, Road, Bridge, Paint, Computers, Medicine etc..) as well as Personalized Customer Care for e-Bidding (Tender Purchase & Online Bid Submission) and Digital Signature Provider. Some are free services and some are paid, so you can choose easily best of them according to your need.
For more: you may visit the http://www.tenderalert.in/
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Wednesday, 19 August 2015

Indian Government’s Guidelines for Usage of Digital Signatures in e-Governance

 Department of Information Technology, Ministry of Communications and Information Technology Government of India had introduced the guidelines for usage of digital signature in e-governance. These guidelines are very important and useful and people who want to know about how digital works should also read these guidelines.
These guidelines are uploaded on the website of International Center for Information Systems and Audit (ICISA) in the year of 2010.

Read the full Guidelines in PDF from Here

In this article we will talk about some important points of this article. Below are some important points of article. 

OVERVIEW OF DIGITAL DIGNATURES

Digital Signatures

A digital signature is an electronic signature that can be used to authenticate the identity of the sender of a message or the signer of a document, and to ensure that the original content of the message or document that has been sent is unchanged. Digital signatures are easily transportable, cannot be imitated by someone else, and can be automatically time-stamped. A digital signature can be used with any kind of message, whether it is encrypted or plaintext. Thus Digital Signatures provide the following three features:-
Authentication- Digital signatures are used to authenticate the source of messages. The ownership of a digital signature key is bound to a specific user and thus a valid signature shows that the message was sent by that user.
Integrity - In many scenarios, the sender and receiver of a message need assurance that the message has not been altered during transmission. Digital Signatures provide this feature by using cryptographic message digest functions (discussed in detail in section 4.4).
Non Repudiation – Digital signatures ensure that the sender who has signed the information cannot at a later time deny having signed it.

Digital Signature versus Handwritten Signatures

A handwritten signature scanned and digitally attached with a document does not qualify as a Digital Signature. A Digital Signature is a combination of 0 & 1s created using crypto algorithms.
 An ink signature can be easily replicated from one document to another by copying the image manually or electronically. Digital Signatures cryptographically bind an electronic identity to an electronic document and the digital signature cannot be copied to another document. Further, paper contracts often have the ink signature block on the last page, allowing previous pages to be replaced after the contract has been signed. Digital signatures on the other hand compute the hash or digest of the complete document and a change of even one bit in the previous pages of the document will make the digital signature verification fail. As can be seen in the underlying figure, a Digital Signature is a string of bits appended to a document. The size of a digital signature depends on the Hash function like SHA 1 / SHA2 etc used to create the message digest and the signing key. It is usually a few bytes



Overview of how Digital Signatures work

The Digital Signatures require a key pair (asymmetric key pairs, mathematically related large numbers) called the Public and Private Keys. Just as physical keys are used for locking and unlocking, in cryptography, the equivalent functions are encryption and decryption. The private key is kept confidential with the owner usually on a secure media like crypto smart card or crypto token. The public key is shared with everyone. Information encrypted by a private key can only be decrypted using the corresponding public key.
In order to digitally sign an electronic document, the sender uses his/her Private Key. In order to verify the digital signature, the recipient uses the sender’s Public Key.  Let us understand how the Digital Signatures work based on an example. Assume you are going to send the draft of a contract to your lawyer in another town. You want to give your lawyer the assurance that it was unchanged from what you had sent and that it is really from you.
1. You copy-and-paste the contract into an e-mail note. Get electronic form of a document ( eg : - word or pdf file)
2. Using special software, you obtain a message hash (fixed size bit string) of the contract.
3. You then use your private key to encrypt the hash.
4. The encrypted hash becomes your digital signature of the contract and is appended to the contract.
At the other end, your lawyer receives the message.
1. To make sure the contract is intact and from you, your lawyer generates a hash of the received contract.
2. Your lawyer then uses your public key to decrypt the Digital Signature received with the contract.
3. If the hash generated from the Digital Signature matches the one generated in Step 1, the integrity of the received contract is verified.





Legal Validity of Digital Signatures

The Indian Information Technology Act 2000 (http://www.mit.gov.in/content/information-technology-act) came into effect from October 17, 2000. One of the primary objectives of the Information Technology Act of 2000 was to promote the use of Digital Signatures for authentication in e-commerce & e-Governance.

Towards facilitating this, the office of Controller of Certifying Authorities (CCA) was set up in 2000. The CCA licenses Certifying Authorities (CAs) to issue Digital Signature Certificates (DSC) under the IT Act 2000. The standards and practices to be followed were defined in the Rules and Regulations under the Act and the Guidelines that are issued by CCA from time to time.

The Root Certifying Authority of India (RCAI) was set up by the CCA to serve as the root of trust in the hierarchical Public Key Infrastructure (PKI) model that has been set up in the country. The RCAI with its self-signed Root Certificate issues Public Key Certificates to the licensed CAs and these licensed CAs in turn issue DSCs to end users.

 Section 5 of the Act gives legal recognition to digital signatures based on asymmetric cryptosystems. The digital signatures are now accepted at par with the handwritten signatures and the electronic documents that have been digitally signed are treated at par with the paper based documents.
An Amendment to IT Act in 2008 has introduced the term electronic signatures. The implication of this Amendment is that it has helped to broaden the scope of the IT Act to include other techniques for signing electronic records as and when technology becomes available.


Read the full Guidelines in PDF from Here

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Saturday, 25 July 2015

E-Tendering - Best Way to Prevent Corruption in Tendering



We all know how much have changed in this decade so far in terms of technology. The modern technology has come with great facilities for all kind of services; “Tendering” is one of them. Tendering process has been changing rapidly around the globe to become more convenient and transparent. The new form of Tendering is “E-Tendering” or “Online Tendering”.

We all know the larger scale of corruption and fraud in the traditional tendering process in every level. Tendering was and still considered one of the most corrupt sectors. With emergence of E-tendering all of this misuse has been rectified and transparency and convenience for both the seller and buyers is promoted. Most nations are now widely using E-Procurement service for every sector. Countries like India, still struggling for establishing this secure form of E-Tendering, but the condition is now very much change as many govt. departments of India made “online tendering “compulsory and many departments has plan to make this mandatory very soon.

Online Tendering has many positive and user friendly features for both the sellers and buyers. It has some great features like it can be accessed from everywhere according to the convenience of person. The other important features are like easy information access, great reach ability, minimum procession cost, transparency, and many others.

Internet has become a major driving force for E-Tendering. Online tendering has many advantages like the “a greater transparency”. The bidding process has become more users friendly thus chances of any misuse are reduced. It is a time saving method as the process is easily managed and things are done in very small amount of time as compared to traditional tendering process.

We all know of the disproportions and corruption involving tenders which have escalated to such proportions that works are already being dispersed among the delegated quarters even before calling for bids. Such kind of corruption in the process will also drive the foreign investors away.


For E-Tendering Solution Visit                          :- Lotus Procure
For Latest Tender Information and Alerts Visit :- Tender Alert





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Friday, 10 July 2015

How a Reverse Auction Works

A reverse auction is a modern development that has sped up and improved the process of tendering for contracts. If you're in business and are looking for a contractor for a project, you don't have to wait ages for paper tenders to come in. And if you're a contractor, you can modify your original quote to better a competitor's offer. So a reverse auction is a win-win way of doing business.

A reverse auction works pretty much like any other online auction, except that the positions of buyer and seller are reversed. Instead of the seller posting their product for others to bid on, the buyer posts a project that they want a contractor for. The sellers/contractors in a reverse auction place bids indicating what rate they are willing to undertake the project for.

A reverse auction reverses a standard online auction in another way, too. In a reverse auction, the successful bidder is often (but not always) the one who offers the lowest price. However, as bidders may also have to submit a resume or state their experience or expertise, a buyer may not always choose the lowest bidder in a reverse auction, as they may prefer the quality offered by a higher bidder.
The process of bidding on a reverse auction will vary slightly from situation to situation. Some reverse auctions are only open for a very short time (e.g. three days) while others are open to bids for longer. Some reverse auctions will allow contractors to place multiple bids, others may not.

A reverse auction can also be used by people wanting to find a supplier for certain goods. In this type of reverse auction, the buyer will say something like “I need this amount of a certain product. What’s the best price you can give me for that?” And the reverse auction proceeds as normal, with sellers offering their goods for various prices, competing to underbid their rivals and so forth.

A reverse auction for bids/quotes on a project can also open the project up to a wider range of potential contractors. This is particularly the case with reverse auctions dealing with services that can be provided at a distance. Quite literally, contractors from around the world can bid on a reverse auction.
However, if a buyer prefers contractors or suppliers from a certain area for whatever reason - a desire for face-to-face or telephone contact, reducing the cost of shipping, etc. - then they will be able to specify this when placing their project/need online for the reverse auction.
Reverse auctions are an efficient way of finding the best deal or the best tender for the goods and services you need. And for sellers, a reverse auction really puts the competing back into competition!







Go to Lotus Procure WebsiteGo to Tender Alert Website


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Friday, 29 May 2015

Why Hire Procurement Company?

It is typical of large and/or global firms like yours to hire the services of a procurement company. This is to be able to effectively manage the complexities of the process involved in procurement activities, which are even multiplied by the number of regional and/or international offices you have. But more than this, you rely on the expertise of a procurement company to ensure standardization in all your corporate procurement policies.

A Procurement company is one which manages all your procurement activities effectively. Every business type whether it is small type of business or large scale business, these procurement companies is helpful for every type of companies.

Generally, the procurement process involves the search for and the assessment of the qualifications of the prospective vendors. It is then followed by the sending out of requests for bids or quotes and the evaluation of each of them. After this, the procurement team makes a selection and performs the needed negotiation. Businesses may differ when it comes to strategies implemented within this course of action, but each of them makes sure that it follows certain standards to become efficient. This is where the work of a procurement company gets in the picture.

The procurement company designs acquisition policies exclusive for every firm. For instance, it promises fair treatment among all potential suppliers. It also aims for excellence in the quality of the materials that it hopes to procure. Significantly, it wants to achieve reasonable pricing rather than affordability if it will only sacrifice value.

In addition, it offers strategic procurement approach to meet specific business goals. It negotiates contracts with vendors that will guarantee the high quality of the goods and services for the organization it works for. But what makes hiring this type of service more significant is that it does not require entrepreneurs or their procurement staff to go from one location to another only to meet with suppliers because it performs this critical task for them.
It is also equipped with the negotiating techniques essential for every enterprise to reduce operating costs. Its employees have strong communication skills and convincing power to get contracts to the best interest of the client. It carries with them years of experience that will be of huge help to your procurement requirements. Significantly, it is knowledgeable of the industry standards, which are valuable to be able to negotiate competently.

Instead of your organization going through all the hassles involved in this procurement process, a procurement company will be the one to manage all these concerns. Likewise, rather than spending for the procurement training of your staff, you may allocate this sum to other important matters. This will then bring a significant reduction in your overall administrative cost. More importantly, this will ensure error-free workflow.

The procurement process starts from the issuance of purchase requisition or order slip. This is done for every item written in the form. Anyone can imagine then how life can become more complicated if he or she is running a global corporation. But, it is for this very reason that large businesses require the help of a procurement company. Make no mistake, though, because even medium-sized businesses may consider seeking assistance.




Go to Lotus Procure WebsiteGo to Tender Alert Website




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Wednesday, 13 May 2015

Difference between Auction and Reverse Auction


Reverse auction the word itself states the reverse of auction. Auction is a process in which the person interested in buying a good bid for the same, in this the price of the good goes on increasing until the person with highest bid takes the good. In Reverse Auction, many sellers of goods and services compete among themselves for providing goods and services that a buyer requests for.
With the development of internet based online auction tools in mid 1990’s, Reverse Auction started gaining popularity and has developed into a remarkable purchase tool for the corporate world and is being used mainly for purchase of articles and goods.

Online reverse auction begins with a meeting that takes place between the buyer and the seller, who is also known as the market maker. During this meeting, the buyer and the seller discuss the requested service or good. Special considerations, such as necessary materials to complete the job, the time frame to complete the job, and even the budget for the job, are discussed at this meeting. If the buyer is interested in purchasing an item, considerations such as the age of the item and quality of the item may be discussed beforehand.

Reverse auctions gained popularity with the emergence of Internet-based online auction tools. Today, reverse auctions are used by large corporations to purchase raw materials, supplies and services like accounting and customer service.

It is important to note that reverse auction does not work for every good or service. Goods and services that can be provided by only a few sellers cannot be acquired by reverse auction. In other words, reverse auction works only when there are many sellers who offer similar goods and services.
Reverse auction software is software which guides us in e-auction in proper way or the reverse e-auction.  Online procurement is the process of ordering and selling goods and services using the Internet. This type of ordering may be accomplished using a branded access page that is established by the vendor for a specific customer, or through a general ordering site put in place by the vendor. The main purpose of online procurement is to expedite the order placement, processing, and delivery of goods and services.
The sourcing expertise are people who help us guiding in ordering and selling the goods. The procurement services are given by procurement specialist who guides us in buying or selling of goods. There are three primary types of firms that offer procurement consulting services: large multinational forms, boutique firms, and vendor-specific consulting firms. Strategic e-sourcing is driving corporate strategies from cost reduction to value-creation, from green initiative to risk mitigation.

To compete and thrive in the market, companies need enterprise-ready, global sourcing solutions that deliver sustainable bottom-line savings and top-line growth.  Experts in e-Procurement are trying to find ways in all possible manners so as to be on the top with better firms. They are themselves trying to get proper knowledge and lend to the needy one in business.

On Demand Technology world, our customers expect relevant personalized information delivered in a timely and well-organized fashion. On Demand Technology is made for people to get personalized information through proper medium and a correct one too. Supply management describes the methods and processes of modern corporate or institutional buying. E-Tendering is the procurement process simply conducted online, i.e. supplier registration/expression of interest, contract download, submission of bid document, evaluation of tenders. Majority of companies today strive to harness the potential of global sourcing in reducing cost. Hence it is commonly found that global sourcing initiatives and programs form an integral part of the strategic sourcing plan and procurement strategy of many multinational companies.




Go to Lotus Procure WebsiteGo to Tender Alert Website


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