“Trends” are the mantra of internet and e-Procurement is the new trend in the transaction of good and services between the seller and buyers.
Tendering is a very old process of advertising, processing, bidding and selling of goods and services at fixed prices. But the process has seen the shift with the rapid growth of internet. Rather than hunting down tenders in the dusty business corners of newspapers, through word-of-mouth or memos, online tender databases can be searches for tenders based on requirement or criteria. Organizations can become part of the alert mailing lists of an online tender portal and receive alerts about new and relevant tenders from both the government as well as the private and service sector.
The main aim is to make sure that the organizations have access to new tenders as fast as possible and that equal opportunity is provided to these organizations. Such as access makes sure that business expands beyond their usual boundaries and diverge into different sectors for better and overall development of the organization.
This is also ensured by the fact that these online tender databases do not limit themselves to some regional boundaries. With globalization at its peak everyone wants to have the world-wide business connection and with this online tender portal, it is possible even for small businesses. Since the entire process from advertisement to awarding of tenders is done online the geographical limitations have lost their meaning. The tenders are mailed based on a company’s profile or their requirement. Once the relevant tenders are sorted and matched with these organizations they are mailed daily so that they all have an equal chance to gain an amazing opportunity.
In a case of any queries, various customer helplines have been set up that has helped bridge the information gap between the seller and buyers. The online services are used to provide tender information to a company or organization on their subscriber's list. These services are usually available at very reasonable prices. It includes access to the database of thousands of tenders, download of any required documents and daily tender’s alerts that match their business profile are provided without any added charges.
Once the organizations find the tenders that match their interest and resources, the online application process for taking part in the bidding race begins. Once the application is filled, an e-Agreement is signed between the parties on both sides to make sure that they would adhere to the rules during the bidding process.
E-Bidding is a very transparent process, visible online to all the bidders who have signed the agreement with the seller. The new bids are visible to each of the organizations who are part of the process. Once the bidding ends, the sellers rank the bid according to preference before announcing the winning bid. An e-receipt is sent by the seller and the transaction is done using online payment portals. And a new business connection is formed.
The internet web has undermined the geographical distance and if you have a vision, the online service portals give you access to the best with minimal efforts. One click and a pile of paperwork disappear. Everyone is caught up on e-Procurement of goods and services.