What is E-Tendering?
The simplest definition of e-Tendering is the process of managing a tender or Request
for Proposal (RFP) electronically.
Traditionally e-Tendering has been most commonly used by government agencies and
the public sector rather than by the private sector. However, with increasing numbers
of both business customers and consumers turning to the internet to research goods
and services before making a purchase, e-Tendering is becoming a successful and
efficient sales channel for a variety of organisations.
E-tendering means carrying out all traditional tendering activities in an electronic
form, using the Internet. The basic objective for e-tendering is to bring security,
authenticity and accountability into the tendering process. Additional benefits
include savings on time, efforts and money involved in the procurement cycle for
both the supplier and the contractor. E-tendering offers comparative and qualitative
comparisons amongst bidders to facilitate an accurate evaluation process.
The electronic nature of an e-Tender marketplace means that a business never needs
to miss an opportunity as they receive an email or SMS alert every time a relevant,
new tender is published.
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