Now a day the business world has become cutthroat competitive and almost all potential projects and services are put out to tender and all the system has been put over the internet. That is various potential organizations are given the chance to bid for the work. There are different online websites that offer tender alert service to potential bidders.
In their offers, they are going to explain how their organization will tackle a business problem, give the service required or supply the products asked. They will likewise need to offer a competitive cost for this work.
The process of outlining and writing these tenders, finish with the competitive pricing, is known as bid management, tender management or proposal management.
The tender begins when an appropriate Invitation To Tender (ITT) has been distinguished. The ITT is a formal archive that is distributed by a purchasing organization with a specific end goal to tell other companies that bids for a project, piece of work or service is required.
There is always a fixed deadline that the tenders must be returned by and this makes bid management very time dependent.
There is dependably a settled due to date that the tenders must be returned by and this makes bid management exceptionally time dependent. It all includes to the stress of the whole procedure.
When they answer to an invitation to tender (ITT) they are expecting to fulfill the potential client entire requirements and it is very unlikely that a single person will have all the expertise, knowledge, insight, and creative ability to build up a relevant and convincing reply. (Maybe the request ought to persuade and fitting.) They need to create a team to address all the problems and that is an expertise in itself. An issue expert - ordinarily referred to as the SME - might possibly have the communication skills to create the real tender document. The group itself won’t have the objectivity to re-read, evidence, precise and make their tender document compelling before it goes to the customer, as they will realize what they implied - so an important, if confusing, portion of the team will be individual or some people who are not part of the team to do all of this before it goes to the client.
These structure agreements are especially popular with government tenders and extensive organizations and are regularly found in IT and staffing.
Tenders can be low level, for example, a cleaning service or they can be very costly, for example, an offer for a multi-million dollar new PC framework yet they all have a similar structure and procedures.
They begin with the ITT ask for bids and wind up with an arranged contract. A decent bid manager knows how to deal with the procedure while juggling staff, data over-burden, scanning for missing data and overseeing time frames.
The grand arrival of internet technology has been responsible for transforming the traditional practice of tendering. Governments around the world have felt the urgent need to improve their services and to deal with all kinds of issues without delay and complications.
We are all aware of the immoral and corrupt practices that take place at tendering and procurement boards levels. The launch of E – Procurement and Online Tendering has definitely resulted in minimizing corruption at higher levels in the government. It brings transparency, easy accessibility to people and also includes other benefits such as conducting business transactions on the internet.
brings a lot of positive factors in the tendering and procurement business. It can be accessed any time and from any place. High level of efficiency, mass reach, easy access to information and details and more importantly; reduce high tender processing costs of the public sector in terms of time and money.The emergence of the Internet has metamorphosed the entire process of tendering. Bidding for a tender online will provide an added advantage to both the government and its people by minimizing corruption while inviting bids for tenders. Time is easily managed and things can also be handled more efficiently. With the advent of the online system, tendering procedure has become less time consuming and inexpensive.
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.
To draw attention to its many beneficial features, it is of utmost importance that the positive factors of e-tender ought to be highlighted and brought to notice.
People should be made to comprehend that the process of online tender submission is a much simpler and easier process than manual tender submission. Even contractors, technologists and engineers are well aware of the benefits of e-tendering and the transparency that it offers. It is the ideal solution for combating corruption at the highest level in the tendering and procurement levels of the government.