The Advantages of Modern e-Tendering Systems

In the past, traditional bidding processes relied heavily on manual and paper-based operations. Products were often poorly categorized, making the entire bidding process lengthy and complex. It typically took three months or longer to complete, which was time-consuming for both buyers and suppliers. Finding suitable suppliers on a global scale was even more challenging.

Fortunately, modern information technology has caught up, and e-Tendering System can now eliminate the issues associated with traditional bidding processes, enabling a seamless workflow. Moreover, these systems allow bidders to participate in international tenders, specifying the products, services, suppliers, and relationships that meet their needs as buyers.

Modern e-Tendering System

Compared to traditional offline bidding, e-Tendering System offer significant advantages. The entire bidding process is conducted on a virtual platform without the need for any paper documents. A well-designed electronic bidding system enables efficient, professional, standardized, secure, and low-cost bidding management. For example, the 8Manage SRM electronic bidding system helps companies transparently and fairly select and shortlist bidding suppliers, control the prequalification process, create evaluation matrices, and manage the opening of electronically sealed bids. Paper-based bids can also be managed through the same system.

1. Bidding Approval Management
- Companies can set different approval processes for different types of bids. The progress and results of each approval process can be viewed in real time, and PDF reports can be exported.

2. Online Supplier Bidding
- The online bidding system simplifies the comparison of supplier bids. The 8Manage SRM system automatically invites and manages supplier bids, allowing bidding managers to focus on other tasks rather than ensuring suppliers submit bids on time with accurate information.

3. Preventing Corruption
- The 8Manage SRM electronic bidding system ensures the traceability of all bidding processes, effectively reducing the occurrence of corrupt practices such as backdoor deals. It also maximizes transparency and oversight in post-bid supervision and inspection.

4. Bid Evaluation and Selection Management
- Bidding managers can set rules authorizing the evaluation team to assess the risks associated with recommended suppliers. The final selection committee reviews each recommended suppliers detailed scores, risks, and other business factors before making the final selection decision.

5. Automatic Generation of Electronic Contracts
- Once the final selection is made, the system can automatically generate electronic contracts from the electronic bidding page. Suppliers can then submit deliverables according to the milestones set in the procurement contract. The system automatically triggers the approval and acceptance process upon receiving the deliverables.

Conclusion

Bidding is a complex and tedious process. Compared to traditional bidding methods, electronic bidding standardizes and streamlines the entire process. In the competitive environment of corporate development, the primary goal is to reduce costs and increase revenue. In summary, electronic bidding offers numerous advantages, including saving manpower and time for bidding entities, improving work efficiency, shortening the bidding cycle, and expanding the range of bidding participation beyond geographical limitations to find more suitable suppliers.