STREAMLINE PROCUREMENT PROCESS, SAVE TIME AND GENERATE HUGE SAVINGS WITH MTENDERS E-AUCTION SOFTWARE

With our electronic auctions software, you can take care of every aspect of an online supplier auction, from creation and publication through to negotiation and evaluation. It allows your suppliers to compete with each other using a transparent, real-time bidding environment, so you can benefit from increased savings opportunities, maximize the commercial advantages and get the best possible outcome from your procurement processes.

ePROCUREMENT SYSTEM

Procurement is a vital part of any business. Every organization must procure various products and services from third-party vendorsin order to operate effectively and produce its own goods and services. eProcurement system also helps organizations achieve non-financial goals, such as sustainability, lessening of environmental footprint,etc.

Mentioned below are various steps that help in streamlining the procurement process:

Recognize the internal need

This commences the procurement process within the organization. A department or business needs some goods/services to function. If multiple departments have similar needs procurement will combine their requirements to lower costs and increase prominence.

Assess and select a supplier

A potential list of suppliers for the required productsneeds to be identified. Vendors are evaluated based on price, quality, reputation, trustworthiness, customer service, etc. After concluding the analysis, the procurement is able to select the best vendor.

Negotiation with the selected vendor

The contracting process begins. In some cases, buyers may choose to completely avoid contracting trusting instead of a legally binding buying order.

Release a purchase order

Thefinance department will then generate and release a purchase order (PO)which contains a PO number, detailed terms,and conditions, delivery, etc.

Receive an invoice

The supplier will forward an invoice comprising a list of the ordered items along with their cost and indicating due dates of payment.

Receive and audit delivery

The supplier will send the ordered goods and services as per the terms of the contract. The procuring organization has little time to audit the delivery and inform the supplier of any inconsistencies, such as lost items or superiorityproblems.

Make payment

The finance department will make payment as per the terms specified in the contract once the order has been certified.

Maintain proper records

Finally, it is just good business practice to store all documents from the original requisition through invoices in a single centralized location. It helps access any future audit and assessment of data and track and enhance spend management.

E-Auction Software Benefits At a Glance

INCREASE REVENUE POTENTIAL

Achieve savings of up to 18%, whilst ensuring quality service level using various types of forward and reverse auction functionalities.

Streamline Processes

Specify your requirements, sit back and let your suppliers do the rest. Speed up the negotiation progress, make comparisons easily and pick the suppliers that suit you best.

Flexible Auction Types

Our software supports a range of auction types including English, Dutch, Japanese, Dynamic and Sealed Bid eAuctions. This gives users the flexibility To choose the method that’s most suited to the product or service type.

Easy Set up

Designed with users in mind, our eprocurement system is extremely initiative and easy to use. You can quickly create and tailor an auction event using as little or as much information as you need, to ensure that your suppliers are fully aware of exactly what they’re expected to provide. You can also use event templates or clone previous events for repeating auctions.

LIVE MONITORING AND ANALYSIS

With real-time data and in-depth analysis, you can stay on top of your eAuction process and make informed business decisions without delays.

Next Steps

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