All About the Process of E-tendering

The system of tendering has been used for several years across the globe in order to complete large scale projects. In this system, eligible companies belonging to a certain industry are invited to submit their respective bids for the project in hand, which ultimately is awarded to the firm quoting the lowest price for the highest quality product.

Nowadays, the whole tendering cycle is popularly conducted online. Energy, irrigation and software tenders are floated by diverse contemporary organizations on a virtual platform.  Contactors planning to bid for these projects are typically required to log on to the website of the client organization, and submit their bid proposals there itself.  Many organizations, both private and public, might even have their own distinct e-tendering platforms where the bidders get to:

• Submit an expression of interest
• Complete and submit the tender or bid
• Download all important documents related to the tender onto one’s own system
• Clarify any questions related to the bid or the contract itself
• Keep all relevant documents in one place on the cloud

The popularity of the e-tendering system has surged up over the years owing to its various benefits and advantages. Here are few of the biggest advantages of this process:

1. The e-tendering procedure is a highly structured and organized procedure, in which the bidders are provided with guidance in each and every step.
   
2. E-tendering facilitates paperless transactions, and hence in this system there is no requirement for any kind of physical documentation. This factor makes tracking of documents, record keeping and storage much easier.
   
3. The speed of the whole tendering process gets augmented as the whole cycle takes place online, and communications between the bidders and the client organizations becomes much smoother as well. Any queries and questions that the bidding enterprises might have in relation to the client’s expectations and scheduling preferences can be promptly answered through the respective online tendering platforms without causing any delay.
   
4. When the tendering procedure takes place online, it ultimately becomes much easier for the client organization to manage and compare all the bids from the different contractors.

Online tendering has thus made the whole process quite uncomplicated and quick, for both, the seller and the buyer. As such, be it energy, irrigation or software all kinds if tenders can now be found online on various e-tendering portals.