In the running of large organizations, the need for tenders is always present. Such a need usually results in various tenders that are running on different systems. The differences in the tendering systems arise from the fact that the involved suppliers deal with different categories of products. Sorting out the categories becomes a challenge in the process. Many tendering systems also present other challenges. Implementing the conventional tendering process will take a very long time to complete. The process does not acknowledge the expertise of different suppliers. Conflicts and adversarial attitudes are always bound to arise in such processes. Amid the confusion and challenges facing tendering systems, gement solution is the way to go. It makes it easy to manage requisitions, bidding information and tender documents.
Lotus Procure is a system that can automate all the tendering activities. One can refer to the system as an e-Tendering System, e-bidding system, e-procurement system or Electronic Tendering System. Automating the entire tendering process that involves procuring services and goods refer to activities starting from purchasing the requisition to when the contract is awarded. The tendering process involves authenticating important information before it is accessed and transferred from one user to another.
The Indent Management option is one of the modules that are available in the system. Its function is to allow users from different departments to create and submit indent requests. The requests are for procuring work and other goods. The module also helps in estimating the cost of works and goods, as well as aggregating the demand for goods.
The system takes into account such things like socio-economic policies involved in various public procurement, corruption practices, grants, the magnitude of procurement outlay and compliance to the regulations set by the government.
The modern downward procedure-to-pay activities face many challenges. The available team has the necessary Technology, Process and People who can handle such challenges. As such, the necessary knowledge and expertise to execute the main procurement operations are present.
No matter the amount of effort involved in coming to agreements and getting contracts, the documents involved always find their way to the file cabinet. Most business managers are aware of this practice. The practice of manual filing always leads to other costs and risks that an organization faces on a daily basis.
While using our system, customers are able to find the solution to authoring contracts and accessing a central repository of files. As such, the customers can generate documents that comply with the administration rules and get timely notifications regarding any changes on the system or the progress of a tender.
There is a MIS group that enables buyers and suppliers to link different products, accounts or transactions to various MIS entities. In turn, one can define a MIS report in different ways that can help link the MIS entities to a particular transaction, account, product or class. The invoice management solution also maintains logs for all the transactions. Such transactions are always linked to the indent processing activities such as creation, approval or rejection. The auditable logs records such details as the time, date and user details.
The process of auctioning involves buying and selling of services as well as goods. It involves offering such goods and services for bids and the person with the highest bidder gets to buy the service or good. The various meanings of an auction do revolves around the fact that the practice involves exchange based on some trading rules.
This type of auction involves the buyer selling items to a supplier. Bidders have quote higher prices than the start price. One should note that the start prices is the lowest possible price. The supplier with the highest bid is the top rank bidder and the buyer can go ahead to offer the supplier a contract. Offering the contract depends on various factors such as the lead time, capacity, quality and value adding possibilities.
This second type of auction is the opposite of the forward auction. In this case, buyers are the ones who purchase items from suppliers. Awarding a bid depends on the price as the main determining factor. The bidding price for a reverse auction goes down instead of rising like in the case of the above type. The buyer will award the contract to the supplier with the lowest bidding price. Awarding the contract will also depend on the specifications and needs of the buyer such as value-adding capabilities, capacity, quality and lead time.
We understand the Magnitude of procurement outlay, grants, Corruption, compliance to Government regulations and socio economic policies in public procurement.
We have People, Process and Technology to address the modern day challenges of downstream procure-to-pay operations. Our strong domain knowledge and execution expertise of core procurement operation processes.