It is a process based on the internet wherein the complete tendering process starting from advertising to receiving and submitting tender-related information is performed online. This process empowers firms to be more structured as paper-based transactions are either reduced or eliminated, facilitating for a faster exchange of information.
Digital Signature for e-Tendering Officially agreed under the Information Technology Act with a legitimate status, a digital signature certificate is indispensable for all e-Procurement processes where e-procurement not only accelerate procurement processes to blend and rationalize them. Apart from winning remarkable admiration and welcome, e-procurement takes great transparency to the entire system along with it. Keeping a match with the latest technology, it assists buyers and bidders in overcoming geographical limitations reducing procurement cycles.
If you are participating or willing to participate in e-Tendering exercises on diverse government sites, the digital signature certificate is the key. Digital signature certificate, along with confirming pronounced reliability in online transactions too enables digital signature for e-tender which is exceptionally favorable and crystal clear.
Online application of government tender has a supremacy over paper documents. On one hand, where documents are uploaded to a central site in online procedure resulting in receiving of acknowledgments and receipts on an immediate basis conversely paper documents are supposed to get scanned first then verified before being getting processed.
Class 3 Digital Signature Certificate is required if any organization is looking forward to apply for any government e-Tender. The certificate should be registered in the name of a representative who is authorized to submit online offers for e-Tendering applications.
Digital Signature Certificate apart from authenticating your identity electronically provides you with a high level of security by ensuring the absolute privacy of the information exchanged using a digital certificate. Certificates are used to encrypt information so that only the intended recipient can read it. Information can be digitally signed to assure that it has not been changed in transit.
Reduced costs: For example, the costs of stamps to mail your paperwork.
Increased productivity: As records are stored electronically which makes it easier to submit reusable tenders.
Reduced errors: As electronic paperwork is well-organized thus easier to keep a check on errors.
To conclude, the e-Tendering system has a superlative approach when compared to the manual process of tender. It does not require sophistication in computer knowledge, and vendors and officers with different backgrounds can successfully take part in the process.