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  • Writer's pictureJordi Vandenhouwe

Understanding E-Tendering: What You Need to Know

In our ever-evolving digital world, the procurement process is undergoing a radical transformation. One such development is the advent of electronic tendering, or e-tendering. This revolutionary approach to procurement leverages technology to streamline the tendering process, making it more efficient and transparent. But what exactly is e-tendering, and how does it work? Let's dive in.


What is E-Tendering?


E-tendering is the use of digital technology for the tendering process, which traditionally involves the submission of paper-based bids. It's an online procedure where the complete tendering process; from advertising to receiving and submitting tender-related information are done online and thus, saves a lot of physical hustle.


With a platform like Valcori, SAP Ariba or Coupa this process becomes smooth and straightforward. It minimizes administrative work, reduces costs, and ensures a competitive and fair tendering process.

e-procurement
e-tendering in Valcori

The E-Tendering Process

The e-tendering process usually involves the following stages:

  1. Publication: The procuring organization publishes the tender notice online, detailing the project and its requirements.

  2. Submission: Suppliers or contractors submit their bids electronically through the e-tendering platform.

  3. Evaluation: The bids are then evaluated by the organization, with the system often able to perform preliminary assessments based on set criteria.

  4. Award: The contract is awarded to the successful bidder, and all participants are notified of the outcome.

Benefits of E-Tendering

E-tendering offers a myriad of benefits over traditional tendering:

  1. Efficiency: It automates and speeds up manual tasks, making the procurement process more efficient.

  2. Transparency: With all data stored digitally, e-tendering promotes transparency and accountability.

  3. Accessibility: It allows for a wider reach, inviting bids from a larger pool of suppliers, promoting competitiveness.

  4. Cost-effective: E-tendering saves costs related to paper-based processes, such as printing and distribution.

  5. Secure: Advanced security features ensure data privacy and protect against fraud.

Transparancy of e-tendering in Valcori
Dashboard and savings in Valcori

Conclusion

In today's fast-paced digital world, e-tendering is becoming the go-to method for businesses looking to streamline their procurement process. Platforms like Valcori make it easier than ever to adopt e-tendering, providing an efficient, secure, and fair tendering process.

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