E-Tender Procurement Solutions

Abstract

Abstract: In today's day and age of the 21st century, India is moving towards an advanced technological advancement where the old and hereditary methods are been revolutionized to become hassle-free and paperless. One of the main aspects of governments, big private and public entities is to ensure that they get the best and budget-friendly products based on the requirements put forth. To get such products companies put out a document known as tenders. These tenders specify the job description time duration estimated cost and other details related to the expected result. In olden times the advertisement of tenders was given in newspapers and the companies used to send the bids and tender requests in a closed and sealed envelope. These envelopes used to be opened on a decided date to ensure transparency in the process. As time progressed the people started manipulating the tenders by changing the amounts to the lowest possible figures thus managing the results. To end this monopoly and eliminate the geographical advantage we are hereby proposing a methodology that will ensure that such discrepancies do not happen. The model we are proposing is known as E tender procurement solutions. This model is based on a user-friendly framework and an assurance of data protection and manipulation-free environment through blockchain. The model can be used as a base where companies can customize it and use it as a self-product.