What is an eProcurement system and why should I implement one?

Reviewing bids that don’t meet mandatory requirements. Manually tracking long-term contracts and optional terms. Calling vendors to provide up-to-date documents every 90 days. What about storing thousands of binders and pages? If any of this sounds familiar, it’s time to consider implementing an eProcurement system.

If your company is using a time-consuming and labour intensive procurement process, an eProcurement system can help you gain more efficiency and time back. These digital platforms bring every aspect of purchasing and supplying goods and services online to deliver fully compliant, complete bids every time. Plus, digital procurement puts the control in your hands with solutions that are custom-tailored to follow your company’s templates, processes and preferences.

But a leading eProcurement platform, like bids&tenders, does more than simply collect potential bids – it provides an end-to-end solution for every step of your procurement process. Whether you’re a buyer or a supplier, you can save time and cut unnecessary costs by transitioning to eProcurement.

Benefits for buyers

For buyers, eProcurement transforms the purchasing process by eliminating paper, ensuring every bid received is complete and compliant, and removing any conflict or discrepancy behind bid closing and acceptance, all in one centralized location. An eProcurement platform allows buyers at your company to:

Post procurements

Post procurements

Create and post your public bids onto a custom-branded vendor self-service portal or send invitations to prequalified vendors. Configure projects from templates or scratch and manage your procurement team members, vendor meetings, vendor notifications and more.

Handle e-submissions

Handle e-submissions

Manage registered bid takers, supplier questions and electronically receive submissions securely in one central and auditable online platform. The compliance checker ensures only compliant bids are submitted for evaluation.

Evaluate more easily

Evaluate more easily

Setup evaluation templates and provide access to online evaluations for your reviewers. Expedite the process with automatic bid analysis and digital scorecard tools.

Award projects

Award projects

Award projects, whole or in parts, to vendors and store associated documentation while integrating seamlessly with the contract management functions.

Improve contract management

Improve contract management

Manage contracts, expiry notifications, purchase orders, change orders, insurance certificates and other associated documentation entirely online and eliminate spreadsheet tracking of key expiry or renewal dates.

Optimize reporting

Optimize reporting

Easily track and manage spend, team resource loading, and upcoming project tasks to optimize your procurement processes.

Benefits for suppliers

Along with having benefits for buyers, eProcurement systems also make life easier for suppliers. The online process saves suppliers from making costly calculation errors or submitting incomplete bids. It also ensures addenda won't be missed and that each bid is compliant at the time of submission.

As a supplier, you can keep track of exactly where you are in the process by starting and editing a bid at any time. Because it's completely online, you can view, submit and bid 24/7 from anywhere in the world. You never have to miss bid deadlines or worry if you've submitted all requirements again. An eProcurement platform like bids&tenders takes care of the administrative process so you can focus on what's important.

Getting started

Taking your company’s procurement process online can bring more bidders and more competitively priced bids for your projects, cut weeks from your procurement cycles, and ensure all submitted bids are complete and compliant. And with the dedicated support you get from an eProcurement platform like bids&tenders, the switch is so simple you’ll wish you did it sooner. Join our platform as a buyer or supplier and see how we can improve your process.