Tendering refers to the process where an organization, usually governments, invites bids for projects with a set deadline and one where the process or guidelines may or may not be completely transparent.
Open tendering, on the other hand, sets out well-defined bidding process and guidelines in the public domain through a procurement document with an aim to maintain transparency at all levels.
With transparency as a prerequisite and fair play at its core, open tendering enables new or emerging suppliers to secure contracts based totally on merit. That said, specification in open tendering allow wide competition while clearly mentioning the standard of work and material to be procured through the tendering. The procurement document lists all the prerequisites and acts as a guideline to suppliers or bidders.
Continue to read more about what is eTender?
GEP SMART is an AI-powered, cloud-native source-to-pay platform for direct and indirect procurement. GEP SMART offers comprehensive source-to-pay functionality in one user-friendly platform, inclusive of spend analysis, sourcing, contract management, supplier management, procure-to-pay, savings project management and savings tracking, invoicing and other related functionalities.
GEP NEXXE is a uniﬁed and comprehensive supply chain platform that provides end-to-end planning, visibility, execution and collaboration capabilities for today’s complex, global supply chains. Built on a foundation of data, artiﬁcial intelligence and cognitive technologies, GEP NEXXE helps enterprises digitally transform their supply chains and turn them into a competitive advantage.