Institutional procurement of goods and services has always been a complex area for most organisation especially in case of governments and similar institutions and is usually subject to several levels of scrutiny. Procurements by such entities including PSUs and other revenue earning bodies are usually undertaken in line with certain policy decisions and are ultimately reflective of the overall effectiveness of executive. In most of the industrialised countries as well as those with emerging economies, procurement of goods and services by government accounts for roughly around 10-15% of the GDP on average. Needless to say but in a scenario such as this, maintaining an open, auditable and transparent procurement systems becomes very important.
Public procurements are carried out via multiple modes, the most common as well as the suitable candidate with the scope of automation is the open competitive bidding/tendering method.
Tender usually refers to the process whereby governments and financial institutions invite bids for large projects that must be submitted within a finite deadline. The tendering mode can have several variations of itself, however the following components are common:
Our Online Tendering System is a web-based platform that manages tender life cycle and facilitates the process of procuring goods, services and supplies electronically. The solution is enabled for role and right based authentication, draft and manage template for tender notice and most importantly, tender publishing, bid submission and processing. Seamless integration with any existing Vendor Database Management System further enhances the usability of the solution. The tendering process automation is made secure through the integration of Digital Signature Certificate (DSC) for access. Data encryption of confidential and sensitive information such as commercial quotes, proprietary solution is addressed through the use of DSC. Bid Evaluation and award forms the final leg of the procurement cycle through this application and for effective usability, the information regarding the evaluation and award decision, is shared with the vendors via in-built communication channels including e-Mail and SMS.
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