What is e-Procurement?

eProcurement  is the latest phenomena which is being followed by different Government departments, PSU’s, Corporate etc. and this trend is likely to be picked up much faster in the days to come. In this mechanism, the complete cycle of procurement is conducted online right from the floating of the NIT to the evaluation of the bids and finally to the tender award. E-Procurement simplifies government procurement and helps bring in Transparency, efficiency and economy. 

The major benefit that comes with e-procurement is the competition that it brings along with it due to which it brings in better competitive prices. It also brings in transparency, efficiency and cost reduction to the entire procurement  procedure. Similarly the procurement notices so published are not being missed by any of the prospective bidders due to the distance being criteria for the same. Lastly it reduces hassles involved in communication and administration.

e-Procurement suit comprises below mentioned key modules:

e-Tendering
In this module, different departments who chose our mode of e-tendering module publish their tenders online along with the uploading of tender documents on to our site which can be freely viewed by any of the prospective bidders who can download the same and study the feasibility of the tender work. The bidders then submit their bids online after which the department people evaluate the same based on different pre-defined criteria at a pre-defined time


e-Auction
e-Auction is the best negotiation tool currently available in the market to fetch in better prices for disposal or procurement of goods due to its unique feature which allows the bidders to revise their bids as many times as they want within the pre-defined time to stay in competition.

Forward Auction
In this mode of auction, the authority floating the auction intends to dispose of some of their materials (scrap) to the prospective buyers. The buyers can revise their bids as many times by incrementing their last bid by a pre-defined value. And finally when the auction is over, the bidder quoting the highest price bags the order.

Reverse Auction
This is an extension of the tendering process, the only difference being that the bidders can revise their bids as many times during the auction period to stay in competition. The prospective sellers revise their bids by decrementing their last bid by a pre-defined value. When the auction time is over, the seller who quotes the lowest is considered as the winner


e-Requisition / purchase requisition




Supplier management
This mechanism is to facilitate the departments / corporate to maintain their supplier database. The organization which subscribes to this service can categorize the suppliers based on their products such that whenever any requirement for any particular product/services arises, the intimation regarding the same can be reached out to the prospective suppliers. The organizations can also grade their vendors based on their past performance on any defined parameters. With this service, any organization can centrally manage their vendor database and can promote any of their procurement events.

e-Procurement service provider:

E-Procurement Technologies Pvt. Ltd. is the only India's ISO 27001:2005 certified e-Procurement service provider which provides a complete e-Procurement solution & services to their customers to reduce timelines and passing on dollar benefits to customers through value-added solutions.

Kindly refer https://www.abcprocure.com/abc/AboutUs.jsp for more details.

List of the Government departments / PSUs / Corporate using e-Procurement:
Bharat Heavy Electrical Limited - https://bhel.abcprocure.com
ICICI Bank - https://www.abcprocure.com/icicibank
Bank of Baroda - https://www.bob.abcprocure.com