An internet based process wherein the complete tendering process; from advertising to receiving and submitting tender-related information are done online. This enables firms to be more efficient as paper-based transactions are reduced or eliminated, facilitating for a more speedy exchange of information.
CURRENT SITUATION
Nowadays, large organizations usually have to handle multiple procurement needs by applying different kinds of information systems developed by various suppliers. Such process will become inevitably long and cumbersome in conventional e-tendering systems when the categories of products are not well sorted out.
HOW TO IMPROVE?
In order to realize better cost savings and increase efficiency, replacing the manual paper-based tender procedures by electronic-facilitated system has become an essential element in process re-engineering. With a highly automated e-Tendering system, tender specification, advertising, tender aggregation as well as the evaluation and placing of the contract can be prepared at ease.