Managing the process of tenders can be extremely time consuming and tedious. Ask any government official or procurement committee official of a public company, they spend enormous time and efforts on writing tender documents. The process involves initiating a tender draft, sharing with supervisors for their feedback, making the necessary revisions and requires back and forth communication. When these things are done manually or on email, the process takes long time and is very inefficient. Here we take a look at how intelligent automation and software improves the tender management process :
1. Tender Templates :
The tender drafting and documentation is quite involved and complex. The drafting team can leverage templates from the system. So, when a new tender document needs to be floated, an existing template may be chosen. The pre populated templates can have a simple checklist of items needed for completing the document like minimum eligibility criterion, objectives, scope of work, annexures to be submitted by bidders etc. These tender templates reduce the total time taken for drafting the documents.
2. Document Versioning :
The tender document involves multiple revisions and versioning can be tedious to maintain manually. The tender management system automatically creates versioning of documents with the changes. Members can use the elegant carousel to browse all files, download word, excel, power point documents, upload and share all of your files in one central repository.
3. Review and Feedback :
The tender management platform makes the review and feedback process seamless. The tender draft can be sent for authority review; the reviewer is automatically tagged and alerted by the system. When any changes or modifications are done to the tender document, the author receives a notification. The sophisticated versioning control, review and feedback system makes tender drafting efficient.
4. Dynamic & Configurable Approval :
The tender document requires competent approval before it is published for the bidders. The approval process may need different authorities and steps though. The electronic tender management system allows the users to define their authority sequence and approval mechanism. When a document is sent for approval, the system prompts the authority. The time taken in approving and authorising the document is also documented at each step. This reduces the delay and allows the management to track the bottlenecks, if any.
5. Publish Tender :
When the tender document is authorised by relevant authority, the tender is then published for the bidders. The document may be published on the web for the bidders. The document is available for download. If the document needs to be purchased, the payment gateway is integrated to the system. Once the bidders make the payment, they can then download the document.
6. Organise Pre bid Meetings, and Clarifications :
The tender management system allows the users to track each and every step in the process. The management can organise pre bid meetings using the tender management system. The notification email or clarifications are sent to all the tenderers. All information is recorded for the management. All the details of the invitees, pre bid queries, minutes of meeting etc are organised with tender management software.
7. Audit Trail :
A full audit trail of all the changes, updations, and activity pertaining to the tender document are maintained. This enables the administration to track all actions and events related to the tenders. The corrigendum for published tenders may also be issued from this platform. The corrigendum can be emailed to the bidders on email automatically with this. The latest versions and updates are available with everyone involved in the process.
8. Access control and security :
Security is the most crucial and critical element in processing tender documents. With the tender management system, information is encrypted and stored on highly secured servers. Only employees with privileges can access tender documents. The document versioning and trail information also records all changes done in the system. This allows tight access control and confidentiality for tender document process.
9. Manage Volumes and Complexity :
The electronic tender management system handles everything from drafting to awarding the contract. This makes it easy for the organisation to deal with large number of tenders and also manage complicated tenders. The tender information is centralised making it easy for the management to sort and segregate information. It is also convenient to search information, annexures, attachments and other statutory documents. The old tenders can be archived as per management policy and can be retrieved as per needs.
10. Bidder Analysis and Contract Management :
The bidder information and details can be managed for all the tenders. All mandatory documents submitted by the bidder are organised at one place. The finalised contract after the tender is awarded to the bidder is also maintained. The contract renewals are tracked, bank guarantee, agreements etc are centralised. The renewals for the contracts and agreements etc are sent to the bidders and relevant personnel by the system.
With tender process automation and digitisation, the entire process from drafting to awarding the contract can be managed very efficiently. This not only improves the time required for rolling out tenders, but also reduces record keeping efforts for the staff. The internal messaging, feedback and collaboration tools help teams manage tender documentation with ease.
With tender management system all details and documentation is centralised. The key information pertaining to tenders can be accessed by the management at anytime and anyplace. All tender statistics, dates, budget details and other details are available with a digital tender system. It makes the preparation of tender documents simplified, organised and paperless.