e-Tendering Process
What is e-Tendering?
An internet-based process wherein the complete tendering process—from advertising to receiving and submitting tender-related information—is done online. This enables firms to be more efficient as paper-based transactions are reduced or eliminated, facilitating a speedier exchange of information.
The e-Tendering Process
Pre-qualification & Registration
- Pre-Qualification Registration
- Issue User Name and Password
Public Invitation
- Tender Advertisement
- Tenderer Views Tender Advertisement and Notice
Tender Submission
- Tenderer Registration to Tender for a Project
- Download Tender Document
- Addenda Distributed by Principal
- Tenderer Submit Tender
Close of Tender
- Close Tender
- Principal Open Tender
Tender Evaluation
- Tender Evaluation Process
- Request for Information
Award of Tender
- Award Tender/Acceptance of Tender
- Sign the Formal Agreement
Archiving
- Retention of Document
Advantages of the e-Tendering System
Promptness
The e-tendering process is much more efficient than traditional bidding. In this online exercise, the scope of manual paperwork and correspondence is decimated. As a result, the process is carried out within a stipulated timeframe.
Transparency
From the publishing of advertisements to submission of bidding values, all steps of the bidding process are accomplished online. Since the entire details of issued tenders remain in the public domain no room is left for any malpractice.
Fair Competition
E-tendering being a transparent exercise, competitiveness is maintained among the bidders. Consequently, only the most suitable bidder wins the tender.
Less Expenditure
E-tendering eliminates the scope of unhealthy inducements; bidders give absolute priority to bidding values, resulting in lower quotes. It automatically cuts down the project estimation capital as compared to traditional tendering.
Fast Project Delivery
As the e-bidding process consumes less time, the project work gets initiated early, resulting in fast completion. This creates a positive business ecosystem.
Easy to Shortlist
In the e-tendering system, the details of all bidders are visible online to the tender issuers. The profiles and quotes of all the bidders can be compared easily in one place without assorting a bundle of documents.
International Tenders
The e-tendering process eliminates the barriers of borders and opens a global spectrum of tenders. Through different e-tender portals, bidders get to know about all the tenders issued worldwide.
Eco-Friendly
The e-bidding process is an absolute online exercise that limits the usage of paper. It is an endeavour towards a paper-free world, achieving a lower carbon footprint to save our planet.