How Mandating e-Tendering Helps?
In April this year, Ministry of Petroleum and Natural Gas mandated e-Tendering for oil PSUs under its ambit, for tenders of value above Rs. 5 Lakhs. Similarly, in the month of September, Noida Authority mandated e-Tendering for purchases above Rs. 5 Lakhs. Also, organizations are lowering the threshold value above which e-Tendering is mandatory. Many State Governments have lowered the slab for mandatory e-Tendering recently.
What e-Tendering can do?
The acceptability of e-Tendering has been on a rise in recent times. This is because more and more organizations are realizing the potential of e-Tendering in curbing irregularities in supply chain and streamlining the whole procurement process. Also there are instances of organizations reaping huge benefits as a result of successful implementation of e-Tendering platforms. This fact has enthused many other organizations to follow suit.
An e-Tendering platform can prove to be a boon for supply chain management of any enterprise. The paper based tendering process used to be cumbersome and had a number of loopholes. It used to be governed by the whims of officials. As the Government is realizing that the red tape is impeding the whole process and going digital can bring about a huge difference, it is implementing e-Tendering platforms in more and more organizations, ministries and departments. The unnecessary time that used to get wasted in the paper-based tendering process can be saved using e-Tendering. Also, the platform assures that the whole process is secure and that the information doesn’t get into wrong hands.
Keeping all these advantages of e-Tendering platform in consideration, the government is making concerted effort to execute more and more tenders electronically. The lowering of the threshold value for mandatory e-Tendering brings a larger number of tenders under the purview of e-Tendering. This leaves even less scope for irregularities.
Future of E-Tendering
The relevance of e-Tendering is poised to grow as more and more enterprises and organizations adopt e-Tendering and start reaping its benefits. Government has by now realized that e-Tendering is indispensable for a hassle-free and streamlined procurement process. E-Tendering would soon become an integral part of supply chain management of any organization, given the range of benefits it provides. Tenders floated by Governmental organizations would be increasingly executed