The bid management system will interface with current publication process. It will automate the process; provide intelligent reporting on vendors, bids, awards, and even how vendors are accessing the bids. This will allow the agency to increase its reach to include more vendors. Agency specific filters also help in targeting certain vendor communities.
The system also provides automated bid tabulation. It uses traditional procurement procedures. It also provides various well-accepted cost models for example greatest benefit for dollar.
The system allows (optionally depending on Agency needs) vendors to respond online to the bids. The bids are automatically tabulated and presented to the buyer or buying committee for making the award decisions.
The bid tabulation not only shows the price differentials but also allows the buyers to view differentials in specification if any as proposed by the vendor.
Vendors can register into the system. The system manages the password using industry standard methodologies. The vendors can view and respond to any solicitations they like. The responses are kept in electronic lock boxes.
After the bid closing date, the buyer can view the tabulated bids instantaneously. This saves time. The tabulation has various options like weights, score and so on. This provides the buyer with more analytic intelligence.