Friday, 4 August 2017

How Does an E-tendering Bidder System Work?






E-tendering bidder system is a solution to provide a platform for e-bidding. E-bidding is the process of digital bidding using the internet and all other digital devices and medium.
Lotusprocure.in e-tendering bidder system has different modules and components. These modules are the site administrator section, Buyer’s section (Employer), bidder’s section (All interested contractor or supplier) and a public view section.
Role in each module is decided for a component for certain extent. Site Administrator can register buyer or bidder and has an own password but can’t access bidding process. A buyer can publish or download or award a tender and to complete this process buyer needs a password. But a buyer can’t access to bidders page. A bidder can submit or modify a submitted bid and needs a password to accomplish these tasks. A bidder can’t access buyers page or not able to delete a bid. The general viewer can only view tenders but not able to access the any of the parts of the bidding process. General viewers don’t require any password to check tenders on the website.

Each of the modules facilitates certain tasks. In the buyer’s section buyer can offer tender notice and offer bid information to the supplier. Here, the all amendments are accomplished by the buyer. Once the Tender notice has generated it is viewable in bidder section. In Bidder section, now the bidder can bid on that tender and all the information is accessible to the bidder which is provided by the buyer. If Bidder needs to change his bid, he can modify, substitute or withdraw the bid any time before the period of bidding process ends. After the completion of a bidding process, bid evaluation is started. In bid evaluation process, the acquired bid is evaluated to award the tender. Once the winning bid is evaluated, buyer generates a notice to the successful bidder.
There are a few advantages are offered by e-tendering bidder system to a buyer. The same benefits are provided by Lotusprocure.in e-tendering bidder system. Lotusprocure.in e-Tendering Contract electronic is included in that.
  • Buyers receive competitive prices
  • Global reach i.e. Buyers can reach suppliers worldwide
  • Bid comparison is made easy for buyer
  • Efficient process, Time-saving in comparison to usual negotiations
  • Effective Cost saving solution due to fewer person hours, less paperwork, and fewer travel costs
  • Pool of market knowledge, Suppliers gain more knowledge of the market
  • All bidders or contractor have access to the same information and the process is clearly defined
  • Secure Bidding System
  • Suppliers can react directly to bids from competitors
The information available on Lotusprocure.in site is information about e-procurement, tenders and awarded contracts. This information is made available to the general audience. If anyone has queries regarding e-tendering bidder system, a FAQ section available to learn about the process deeply.

Saturday, 22 July 2017

Why Should Rely On Lotus Procure RFx Management?



Today’s e-RFx tools like the Lotus Procure provide the sourcing professional with a bunch of benefits. The major benefits of an RFx management include:

Efficiency through reducing sourcing cycle time 

In a conventional tendering process, information gathering and analysis is very daunting and time-consuming process. It takes a couple of months but due to RFX, it becomes easier and much more reduced in time. Now it takes only a couple of weeks. The additional expense and time are disappearing which is associated with distribution and collection of data document via overnight shippers or USPS. lotusprocure.in RFX ,RFP or RFQ allow sharing document within the organization by the sourcing team. Comparison of the supplier responses and at the same time evaluating multiple stakeholders’ responses saves so much of time and helps to make a faster decision.


Standardization collaboration makes Accuracy and consistency in the process
To maximize sourcing process effectiveness, the tools which help the whole process is a centralized repository with document library management, RFX work process management, and reusable templates formats. This makes a process more standardized that handle those tools is the base for reducing cycle time, process improvement, and global acquiescence. Digital RFx ensures stability within the business from person-to-person, from project-to-project, business-unit-to-business unit and encourages an environment of trust for suppliers.

Web based RFx has very significant role in the communication of all parties like team members, suppliers, and stakeholders so that they can involve in collaboration through a single tool. It enables them to share information, to involve in Q/A rounds, and receiving answers in response. It is the perfect tool for a centralized place for transferring knowledge between people, collaborating organization and projects.
Surveys

The RFX module also comes handy with internal and external processes. It helps them to collaborate, collect internal demands, and forecast demand information. One can utilize them to lead internal surveys on current provider execution as a reason for inward provider score-carding. An electronic-RFx can even utilize to gather feedback on the procurement group’s presentation from internal stakeholders or to track procurement acquisition and resources. A decent e-RFx device is adaptable. Recognize data wasteful aspects and be innovative.

Knowledge Transfer

e-RFx additionally supports the center-led procurement process where procurement professionals in a center of fineness and continue the organization’s general supply chain and commodity sourcing strategies in support of the individual purchasing groups in each distinct purchasing organization. Also, since sourcing data does not physically live away, all past sourcing project data is accessible to the Sourcing Team, aside from when an associate leaves the organization.

www.lotusprocure.in offers a platform for RFX management which includes templates, centralized repository, common-sense formatting, data exportation, and security and access control and workflow capability.

Tuesday, 27 June 2017

Open source procurement and Automation




Every organization required track purchase goods and services. Centralized software solutions have a high up-front licensing fee, expensive implementations, and the level of organizational training necessary to get the full value out of an enterprise-class procurement solution and for that reason, small businesses reject using.
Why do organizations need to automate purchasing?
Purchasing of the goods and services are a very time-consuming process in an organization. The manual process often leads to the mistakes and delays. Many small and midsize businesses (SMBs) can't justify the cost of software. End-to-end procurement process consists of identification of need, an issue of RFP, response of supplier quote, turned into a contract, and purchase order. E-procurementsolutions automate the whole process and save the time and make it hassle free. It also saves the cost if implemented correctly. Reduce the complexity of transactions. Save organization or company from corporate abuse and fraud. Electronic Tendering System improves operating efficiency. The entire procure-to-pay process is automated by e-procurement solutions. It is clearly proved that automation of purchasing in a business organization helps to make the process effective and efficient.
What is open source procurement?
Small and midsize businesses are also required to make their procurement process easy and efficient to reduce expenditure. But also, the cost of enterprise software is very high and they are discouraged not to use these kinds of solutions. Open source procurement helps these businesses to adopt a solution that does not cost them high. Open source procurement solutions offer a simple and quick way to improve their purchasing processes.
What will an e-procurement solutions consist of in open source procurement?
Most of the e-procurement solutions are able to provide support to specific procurement process in an organization. It includes
             Supplier management
             Product catalog
             Purchase order management
             E-tendering functionalities
It provides
             Budgeting
             Purchase requests
             Approvals
             Document management
             Asset management features
Digitization and the Internet have changed many things and so as the purchasing of goods and services in a business as well. Every business required to grow to cope up with the big competition but also required to cut the cost. Electronic Tendering System and e-auctions have been taken place of the manual one and so as the organization adopted the web. Open source procurement leverages the small organizations to keep finances in control. These solutions and systems are fully reliable and efficient. Implementation of emerging technology is always the best way to keep up to date with the world.

Monday, 12 June 2017

Lotus Procure made e-Tendering very easy and effortless.



 Convention tendering is very complex and tricky process, and when it comes to any large organization this manual method of tendering become more stressful. After the introduction of e-procurement, most of the processes become less hectic and less stressful. Implementation of e-procurement helps at all the level of company environment.  After the digitization in all the sectors, it was very crucial to serving digital economy in procurement sector as well. Now it has helped with better control, productivity, reduced cost and higher security.
Lotus Procure improved visibility, better control, and fair financial deals in e-Tendering. It manages tendering process online and this has been improved the accessibility of tenders. Enable people to download the tender and then submit the bid using this system without moving or taking so much time. The objective of offering this system is to provide the best value of the money via secure and transparent procurement process. All the multiple procurement needs are fulfilled and handled very effortlessly by the use of e-tender system. Lotus Procure helps to automate the tendering procedure.



In this system firstly suppliers are invited to sign up in the system. This is called the registration process and it is free of cost. Lotus procure is an online internet based tendering system which provides secure access through unique “username” and “password” to each qualified organization. This system is available in English.
Once registered sellers can update their provided information anytime and are recommended to change their “passcode” regularly.  Part of the registration method is the recognition of the varieties and classes of goods or services that the corporation is actively offering or selling, using a standardized categorization list offered by the system.  This will guarantee that the organization will be able to obtain information regularly about ITBs, market surveys, RFPs, RFQs, notices of the award of contracts, and other data information that is directly significant to the existing business portfolio.  All the relevant information is exchanged in digital form.
After registering in the system, a supplier can view the list of tender contracts, awarded contracts, able to quote for tender, able to receive contract information and documentation and send and receive correspondence.  Getting started with this system is not that tough, through the tender option supplier can browse the list of tenders and contracts and able to get details in which you are interested. All the tender information is provided in sorted form.
Lotus Procure is the best assistance in the complex tendering process and helps you to reduce the stress of the tendering process and make every step effortless for you. It makes you more focused for a winning bid or finding a contract that matches with your company portfolio. By using Lotus Procure web based e-tenderingsolution, the intensive task of tendering will become faster and easier. Be the part of the revolution and make better future for your organization.

Wednesday, 24 May 2017

Electronic Tendering Bidding system & e-Tendering Invoice system





E-tender system is a virtual tender platform between buyers and suppliers. It is an online interface which makes advertise about the commercial, governmental and global tenders. So this kind of system makes advertisements about upcoming tenders in which you are interested. The system used to make suppliers aware about the tender is known as E-tender alert services.
The electronic tender system replaces the old manual tender system and creates an efficient environment for both tender buyers and suppliers. It automates the process and overcomes the drawbacks of old ones. Also, the tender bidding system has been transformed completely and enabled the procumbent process to connect with the larger network. Electronic Tendering Bidding system has facilitated the whole system online and one of the hassle-free bidding environment between buyer and seller. E-tender is a complex and tedious process and it does not finish over here. Other steps also followed by using online space. After the completion of bidding process and selection of the winning the bid, payment process has taken place. All the payments are done digitally using the internet. This process is highly secure and efficient and effective as well.  This process is known as e-tendering invoice system.


Before going to understand e-Tendering Invoice system we need to understand what is e-Invoicing?
e-Invoicing offers the real switch from manual paper to fully digital communication for main business processes in the procurement phase. Using an e-Invoicing system, a supplier can send an electronic invoice and a buyer is able to receive, verify and pay it online. Many electronic Invoicing solutions deal with country-specific legislation, often creating barriers to cross-border trade.
e-Tendering Invoice system is also same as mentioned above or we can say invoicing electronically in e-procurements is known as e-tender invoicing.
What are the benefits of e-Tendering Invoice system in electronic Tendering?
  •  e-Tendering Invoice system simplifies the complex process of the tendering and procurement. All the invoices are handled digitally and paid online.
  • All the process followed is secure and seamless. 
  • Reduced expenses, efforts and time of communication between suppliers and buyers
  • Increase efficiency in electronic business processes
  • Stimulation of greater competition between organizations
  • National-wide interoperability between all e-Invoicing solutions
e-Tendering Invoice system and Electronic Tendering Bidding system
In Electronic Tendering Bidding system, in the post-award procurement phase when the tender assigned to contractors an e-invoice generated which is paid to the suppliers. A supplier organization sends an e-invoice to a buyer. The invoice shows the buyer reference element to spot the individual who made the purchase. The digital workflow system informs the buyer that an e-invoice has been received. The system is able to match the digital invoice with the proper order. The buyer checks the invoice and verifies the quality of services and/or quantity of goods. The buyer then approves the invoice and the document is electronically processed for payment.
The Internet has provided us a better-connected world and all the business environments are adopting its capabilities and usability by implementing in their business process so as the procurement systems.

Thursday, 11 May 2017

E-Tendering Contract Management system - why businesses need to include





E-Tendering contract management system is essential parts of supply chain management that provide saving potential. Contract management system works with managers in supplier relationship, goods and services that have negotiations. With digital Procurement system, one can maintain on identifying routine factors. These performance factors are significant for successful deliverance and organization of the benefits.
Even when someone does conceptual business economics work with acute proficiency, still it is very challenging to doing same work repeatedly. Transformations are necessary for every supply chain manager rather than only improving operations to produce great results while handling constant pressure of maintaining low costs.

Tender contracts are always and poorly organized in a firm. In a company, there are already some active agreements which if counted then merely said to be hundreds. If we total them all, thousands of contract clauses and terms and conditions for smaller companies. These contract clauses must be monitored before enforcement. E-procurement managers understand that putting logical prices on goods is only a section of strategic sourcing action. The tools in e-tender contract management help companies accomplish the majority out of those contract terms, which purchasers spend their complete effort discussing and negotiating.

What are the Transactional benefits?

 Electronic procurement helps the paying procedure of a purchase happen on the internet. Businesses may use web-based transaction tools and e-Tendering Invoice, where goods or services are fundamentally selected from catalogs that are pre-sourced and provided for electronic approval. The system then is linked to an Enterprise resource planning system’s back-end to facilitate entry, e-Tendering Invoice payments, and collect procurement management information.
Easy to access Contract agreements
After the contracts are signed, businesses with contract management tools usually store hard copies in different places. It gets filed by legal departments, stacked by procurement managers, and transported to stockholders. With contract management, companies can organize and store contract records in a centralized and easily accessible repository. One can just click on the mouse to review and download agreements, by guessing where the contract documents are located and giving the business a visibility where contracts are kept at that instant.

Compliance benefits

A major problem lies in agreement and unconventional expenses in any firm. It is not because employees on purpose overspend on a procedure, but because they are not alert. With electronic-procurement, one has a system like catalogs for processing standard orders.

Managing information advantages



Key identifiers may be product codes, cost centers, and so on. The unique identifier codes decrease errors and offer exceptionally detailed daily accessible data. This is needed to make the best use of data for strategic sourcing. Electronic-procurement effectively implemented will provide high-end comprehensive information. It will put off extra expenses on functions like data warehousing or mining.
Smarter spending and more managed database

With contract management system, you have to penetrate and organizing functionalities and can rapidly locate what documents are required. With a contented catalog of the organization’s agreements, the first way to reduce off-contract operating expense can be formulated. It will help contract managers to promptly search all types of agreements being searched. Furthermore, with a prepared database, businesses may be capable of paying out smartly.