“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.
Now the race isn’t with time but with quality!
A tender alert in india
Quick! That’s how everything happens these days. Time is the most important resource in this Globalized world. With internet it has become a mantra for all the organizations to get things done faster than before.
Tendering is a complex process and used to take up days along with tons and tons of paperwork. Small mistakes in filing would amount to huge losses on high profit bids. But with automated E-tendering the process is faster, more efficient with adaptable user interface. Profiling helps organizations find the perfect matches online among the pool of thousand of tenders. The entire process has become more transparent and less bias. It’s easier to connect not just locally but globally, hitches and queries solved with modern costumer services by various online tender services. Safer portals and gateways for immediate payments and viola the process ends smoothly for both sides.
Indian private and public sectors are woven together both in trade and services. A lot of the tenders put online are government contracts and are helpful and profitable, especially for organizations trying to set up themselves in their sectors. Tenders aren’t simply for profits, even non-profit NGOs access tenders for better access and opportunities.
With thousands of tender opportunities both from the government and private spheres, it is a demanding task to find the best tenders for one’s organization. But with Tender Alert systems provided online the entire time wasted in the process is cut down to least. Various tender alert service sites have mailing lists for the subscribers. The subscribers receive a list of tender alert in India daily based on their choices/preferences or based on their organizational profile, matching them with the most suitable tender for procurement that are available on the web.
A number of multinational companies have helped the state governments to develop efficient and effective tender alert system for their subscribers. The process, as a result has become flawless reducing the everyday occurrences of bribery and underhanded process of favoring tenders in the past. Recently the state government of Madhya Pradesh has revamped their online website to give a better experience to the organizations that had subscribed to it. Such efforts have helped improve MP tender alert system. These tender alerts usually provide information such as tender number, NIT number, tender release date, last dates for tender purchase/ bid submission, etc. along with various detailed descriptions about the tender.
The entire process of tendering has shifted into the automated virtual space with open access to all. From placing the advertisements to information gathering, filing and bidding to buy and payment, it's all done before computer screens and with much-reduced efforts from a traditional tendering system. The competency has increased and thus the competition has increased too. Tender Alerts in India have been proven revolutionary, providing efficient means for organizations and sectors to connect at a Global platform and raise the bar higher than ever. The stakes are higher but so are the profits. It’s a process that is still evolving each day. E-tendering is the new way of India.