18th December 2019: Nowadays all companies are using e procurement system for as a part of their day to day procurement process. Tender are also one of the most important parts of e procurement system. Today we are going to know brief information about tenders publishing and how Online Publishing tenders has helped to do procurement in more secure and more productive way.
How do you define a Tender and what exactly is the tendering process? Tendering is a process used by many big organizations including private and government organizations. Tendering is the process of inviting bids from different vendors for a specific project, task or procurement. This tender publishing is done by government organizations as well as other large corporations. Tender is an invitation to all vendors to bid for given projects. After inviting for tender and publishing its requirements on website (e tendering) government organization waits for the bids by various vendors. Tender is nothing but the formal offer made by vendors to complete required work for an organization or company. In e tendering Vendor is invited to submit their proposal online.
Now you must be wondering what tender publishing is? There are many advantages to the e-procurement system. One such advantage is Tenders Publishing. Tenders Publishing is also known as Request for Tenders. In this process, offers are invited from interested vendors to complete work for the company. It is good to process for selecting eligible vendors because it provides transparency in the selection of vendors. This Tender publishing is done by government organizations on their online portals. So vendors have to be alert when government inviting tenders for different projects. Tender publishing has many benefits stated below.
But how does the process of tender publishing act as an advantage in the system? Online Publishing tenders helps the government to give the chance to most correct vendors for their projects or works. Because after tender publishing is done, any interested vendor can check about the requirement of the government on the online portal and can submit their quotation online. So here is chance to all vendors to convince the company with their quotation, pricing, and work experience. This is like bidding to get projects from the government.

The benefits that it provides the government are numerous. Let’s look at some of them. The government is always looking to save money on the project and to do quality work. Online Publishing Tenders help the government to save money as well as to get the best vendors who do quality work. Because they can choose any vendor based on bid or offer provided by him or her. This increases competition in vendors to get that specific project. Therefore, they bid with affordable prices and best quotations. The result of this government gets the best offers from vendors.

Transparency -
In past tenders were accepted and approved by traditional methods. It was not transparent and many government companies noted bribe cases in this process. Now with Online Publishing Tenders, all tender information is online. We can check which vendor is chosen and what was his quotation for project. With Online tender publishing transparency is not an issue. Because everything is online and recorded.

Speed — This process of Online Publishing Tenders has helped to speed up the process of selecting vendors for work. Now vendors can submit tender’s quotation anytime from anywhere. These tenders publishing involved very less manpower and almost all process is paperless. So, it boosts the overall speed of process and saves important time.

Cost effective - this Online Publishing Tenders system is used by big organization and also by governments because it saves a lot of money. If we take tenders through traditional methods that are by filling forms and publishing invitation in all newspapers, then it costs lot of money. In the other hand Tenders publishing through online mode, using internet will cost very less money. Because in these e-tendering and e-procurement systems all processes are automated. Therefore, very less manpower requires. This cut the cost of salaries in the tendering process.

So, with above advantages it is proven that Online Publishing Tenders is beneficial for companies also and also to vendors also.
Now we have understood how Online Publishing Tenders work. But let's understand what this tender process is about and how it completes the important projects for government.
There are many types of governments such as state government and central government. Also, there are local bodies like municipal corporations. There are various departments of governments which are responsible for development of City or state. For that they may require to build infrastructures. Here we will see example related to PWD department.
PWD department is always busy in making construction activities. But this all work cannot be handles by Government. To complete this work the best work is to outsource it to private company. So, they have to give this contract to private company. To choose right company government take help of Tenders Publishing. They invite tenders from all private companies to complete that construction work. This all process happens online. So, because of Online Publishing Tenders vendors came to know that tender is invited by government organization.
But They know only those bids or quotations will be selected which gives best combination of quality and pricing. So, vendors make their quotation in which they give three main things.
1. Quality of work 2. Pricing 3. Time Required for work.
After comparing this bids and quotation made by vendors, Government Organization decide the right vendor for the work. Those vendors given the work to complete in given time frame. After completing work vendors get all the money which they mentioned in pricing during Online Publishing Tenders.

Conclusion-
If you are an organization or you are vendor, Online Tender Publishing is going to help you to make process easier and better. This all process is called as e-tendering. This is one of the parts of E-procurement system. There are many software available in the market which makes this Tenders Publishing process automatic and efficient. These software are used by Large Government Companies and Public Sector Units to accept Tenders and to invite vendors for bidding on government projects.