Online tendering can help businesses of all sizes (small, medium, & large) to make their procurement more effective. Choosing an online platform to run your Tender procedure helps to streamline procurement and, more importantly, affordable. In this blog, we cover 5 key advantages of online tendering.
Manage suppliers’ bids online
The online tendering process is quite simple and affordable even you are a first time user and technically not aware of the process, you can easily apply. An Online tendering machine will automatically invite and manage submissions task. This means the users accountable for procurement can focus on matters apart from ensuring bids are submitted on time and with the proper data.
As you know that the e-Tendering system does more than allow the bidders to easily add and download files. With the aid of dealing with responses via the system, you can streamline the comparison and evaluation of bids by way of requiring granular responses.
Automate the e-Tendering method
From PQQ (pre-qualification questionnaire) and ITT (invitation to tender) to evaluation, negotiation & award, Online tendering helps by means of automating the technique. It makes it less difficult to ask extra capability bidders and plenty less complicated to run negotiation models like reverse auctions to achieve the great pricing in the context of the pleasant service offer.
Gain a full audit trail and process intelligence
This is one of the best benefits of the online platform is that statistics-centric which means that each tendering procedure you run is generating intelligence about the process and supplying a full audit trail. Which means that you will have data of what was submitted and when. But, it also way which you’ll also gain insight into the effectiveness of your e-tendering methods.
It reduces the postage costing and run sustainable, environmentally accountable tenders. E-tendering leaves a much lighter environmental footprint through lowering the want for printing and posting of more than one copy.
Reduce time-to-procure
Alongside being able to use the negotiation method as standard, what many companies will find to be one of the essential benefits of online tendering is the lower the in time-to-procure that it gives you. Traditional procurement can contain lengthy delays for PQQ, movement of tender documents, rounds of questions and plenty of chasing.
Typically, it’s envisioned that e-Tendering reduces the time-to-procure with the aid of 30%. Shorter lead times mean decrease overheads. Records-centric e-Tendering way more corrects responses and the ability to evaluate extra successfully. This means that decrease fees and higher results.
