The benefits of tender management
Reduces the length of the tender process
Traditional procurement was often a lengthy process. Activities such as circulating documents for review, chasing for sign off and dealing with PPQ documentation for the public sector were time-consuming.
Using an e-sourcing solution significantly reduces the time it takes to carry out these tasks. The system automatically distributes and chases for documentation. The creation of template forms cuts down on drafting times. Templates also ensure potential suppliers return the correct information so you can evaluate responses more effectively. Standard guidelines reduce the time spent by your procurement team providing guidance to suppliers.
Minimises costs
Tender management saves costs in several ways. A shorter tender cycle equates to lower overheads as you spend less time managing the process. Digital distribution of documents saves on printing and postage costs. Your team will deal with more procurement projects and activity with the same resource you would use for a manual process.
Ensures consistency
Tender management establishes procedural compliance across all tendering activity. All bidders can access the same documentation and information in the same place. They will also receive automatic updates about any amendments to the tender and the progress of their submission.
An e-procurement system will keep a full audit trail of documents, updates, changes, communications and any action taken. You can refer back to the audit trail if there are queries or when your procurement department undergoes an audit.
Improves operational efficiency
Effective tender management frees you up to concentrate on strategic sourcing and decision making, as the process streamlines and deals with administrative tasks automatically. Your procurement team won’t have to deal with so many queries from potential suppliers. The information about the tender will be available for them through an online portal. A digital system also reduces the time needed to prepare and distribute documents.
Enhances communication
E-sourcing uses an alerts system to communicate with parties to the tender process. It sends automatic alerts to potential suppliers, updating them about their tenders, asking them for more information and advising when deadlines are due. Internally, the system allocates tasks to team members, updates departments on progress and sends approval sign-offs to the relevant senior manager. The tender process becomes transparent. Parties can see where they are in the process and next steps.
