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.