Getting back to basics, let us contemplate what is Tendering all about? Tendering is a process, where a buying establishment makes it known to the public about its intentions for purchasing some goods from or employing the services of a vendor. It passes on details of what is actually required in terms of goods and services and welcomes sealed bids to select the most appropriate and competitive bids.
Online or Electronic (E) Tendering supports the same applied process as in tendering; the only difference being that it is disguised as an electronic form and makes use of the Internet. The process is very fast, safe, time & cost saving. Through E-Tendering the Tender Issuing authorities are able to sell tenders, receive bids, assess the bids or tenders received, publish NIT and then host the Tender Documents. The ones who are bidding can view & obtain tender documents online, receive latest tender notifications as well as submit their bids online without much hassle.
This form of tendering guarantees liability to its citizens, transparency and comprises of all the plus points for conducting business on the Internet. Online Tendering has metamorphosed into a highly efficient technology medium which offers easy accessibility from anywhere and everywhere. It also provides a wider reach, conserves time & money by saving tender processing costs for advertising, printing, distributing and processing of bids.
It emerges out as one of the best channels for Governments to eliminate in-efficiencies and corruption in the Tendering system. It introduces stimulating methods for associations to transmit internally and externally, conduct business dealings and supervising supply groups and alliances. The arrival of the Internet has completely transformed the entire concept of business dealings and E-Tendering on the whole has revolutionized the idea of tendering and given it an entirely new meaning
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