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How to Track Tenders and Quotations Online?

  • Mukesh Mohan Gupta
  • 02-Jul-2021
  • 94 views

Are you finding it difficult to look for suitable tenders? Do you have to scan through pages of newspapers or multiple websites to do so? You can easily find dedicated platforms online that inform MSMEs about upcoming tenders. Read on to know more about how you can find tenders easily online.

Insights

What Are Tenders and Quotations?

A tender or quotation can be described as an invitation from a buyer to execute work or supply goods on specified terms within a specified time. This process may be structured and detailed - typically in case of government agencies and large corporate buyers - or can be a simple exchange of information in the case of smaller buyers. Often, the offer that meets requirements, at the lowest price, wins the tender.

In today’s digital age, most government organisations as well as private entities find their suppliers online. In addition, as part of the government’s support to MSMEs, most government agencies have set a target of 25% annual procurement from the MSME sector.

What Are the Different Types of Tenders?

There are two types of tenders - government tenders and private tenders. With regards to government tenders, it has been mandated that all government tenders need to be published on the digital Central Public Procurement Portal under Government eProcurement System of National Informatics Centre (GePNIC).

Private tenders on the other hand are tenders invited by private organisations. While there is no compulsion of online tendering, most large corporates prefer the online tender system. The tenders and quotations section on nexarc.in provide leads matching your business, from across Tata Group companies, government agencies, large corporates and other MSMEs. You can simply register on nexarc.in and visit the Tenders and Quotations section to access tenders.

What Are the Benefits of Online Tenders and Quotations?

  • Access to all tenders and quotations from government bodies, large corporates and MSMEs along with detailed information on respective tenders and quotations on a single platform.
  • Tenders and quotations can be filtered based on location, organisation, classification, start date, end date, etc.
  • The process is transparent, simplified, result-oriented and cost-effective.
  • Access to toll-free helpline support.

What Are the Steps Involved in Participating in a Tender or Quotation?

To select a suitable tender or quotation for your business, it is advised to do a self-assessment. Here are the steps to follow to participate in a tender:

  • Carefully read all information given in a tender or quotation. Understand each term and condition.
  • Based on the requirement and the terms and conditions, do a self-assessment to ensure your eligibility.
  • If you are eligible, apply as early as possible.
  • Verify every detail entered in your application before submitting.
  • Take the help of a professional, if required.

What Should You Do Next?

  • Regularly find out about tender opportunities for your products and/or services. The tenders and quotations section on nexarc.in is an ideal place for you to regularly check for such opportunities.
  • Register on an online platform like nexarc.in to get all the latest information, tenders, corrigendum and to participate in government tenders.
  • Ensure that you complete all your orders on time. Your order completion must be free from deficiency. If you are supplying products, make sure they are of superior quality.

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