As more and more companies are adopting workflow digitalization, online tendering or online bidding process for projects and subcontracts are getting more popular. The process helps to execute bid evaluation with reduced time, high efficiency and lower costs.
The Online Bidding Platform is an innovative solution, and it provides e-tendering processes in an organized and convenient manner. Online bidding is a platform for companies to execute their project tendering process online. Companies can post bids for project subcontracts and bidders by inviting them to participate in the bidding process.
A construction tender is a process of presenting a proposal, then the construction companies make their bids for submission, and if accepted, a legally enforceable contract is created.
Construction tenders revolve around the works required, the quality of materials, workmanship to be used, and methods of testing to be adopted to ensure compliance. The specification starts with a description of the works that are to be constructed, followed by all related data like the site, access, records of weather, etc. and the availability of various services such as water supply, electric power, etc.
What is the multi-stage e-tendering approach?
- It comprises subcontractor pre-capability, techno-business submittal screening and order finalizing.
- Then tender assessment & approval procedures are planned accordingly, which are compatible with all organizations regarding various industries.
- This entire process is user-friendly, aiming to secure transparency of bid processes to all businesses, with detailed technical evaluations, and ensure business credibility.
The e-Tendering offers an opportunity for automating most of the construction tendering process by preparing the tender specification, advertising, tender aggregation; to the evaluation and settling of the contract.
The benefits are:
- Reduced tender cycle-time
- Quick and accurate pre-qualification and evaluation.
- It also enables the refusal of suppliers that fail to meet the tender specifications
- More active and fast responses to questions and points of explanation during the tender period.
- Reducing the labour-intensive tasks for receipts, registrations and distribution of tender submissions.
- Reducing the paper trails on tendering activities, reducing costs to both councils and suppliers.
- Improved audit trail progressing integrity and transparency of the tendering process
- The improved quality of tender specification and supplier response
- Ensures the terms of quality management information
The digital bidding method is rapidly arising. There are several web sites and applications that provide online bidding and related services. Online bidding Platform has made the Construction Tendering Process Super Easy by the ease of communication modes and the workflow that happens digitally and reduces manual trial work.
IBIZplatform assists in identifying, collaborating and accelerating the tender processes and practices multi-stage screening process for choosing bidders that will ensure the credibility of available bidders.
This session is going to be productive and beneficial for both sellers and end-users, and It conveniently facilitates the collaboration between the interested buyers and interested bidders.
Using this session, Bidders and Buyers initiate new projects and quickly go through all essential documents related to the bidders and pick a bidder. This allows transparency and assures trust in the process.