When Technology Shapes Procurement Practices
Ever since digital technologies have penetrated deep into people’s lives, one can notice a higher scale of efficiency in business processes. Of all the sectors, the procurement sector has been fueled largely with technology intervention. There could be several technology enabled service providers who can help procurement services. Are you aware of technology enabled platforms? Different procurement solutions can be seen in the market but with the emergence of Government e Marketplace, an impetus has been added to the current procurement landscape.
What is GeM? It is an eprocurement portal that caters to the B2B space and enables sellers and government buyers to come together on one platform. What does the portal do actually? It simply doesn’t get the buyers and sellers together but rather it helps sellers and service providers do online bidding and showcase products in the portal, thus, putting up your products and services on the public pedestal.
Technology helps in breaking the shackles of traditional procurement. Integrated with AI, Blockchain, Deep Learning, Machine Learning etc. the portal is beyond how the common man has perceived procurement. Given that the technology upgrades keep happening, the portal gets advanced with time.
What benefits do SELLERS get from the digital portal?
- Access to government buyers
- No registration/bidding fee
- Special initiatives for startups entrepreneurs, weavers, artisans, SHGs etc.
- Totally paperless and contactless
- Availability of tutorials for better learning
- Revamped process for brand application and brand approval process
- Facility of multiple invoice for single order
What benefits do BUYERS get from the digital portal?
- Ease of buying facility and transparency
- Availability of a vast range of products and services
- Easy feasibility of price trends and price comparison from multiple suppliers
- Direct and prompt notifications to all sellers
- Integrated Payment System
Technology has helped the procurement portal in becoming more efficient, easy to work on and highly inclusive in nature. The story doesn’t end with technology intervention but begins with feature upgrades and ability to offer a growth space to the sellers. With feature upgrades, the portal becomes fast paced and it helps in reshaping the practices of procurement and revolutionizing the portal.
With the traditional procurement changing into digitized process, indeed it is bringing a whole spectrum of opportunities to entrepreneurs. Local merchants can get access to tap on the potential of technology, government buyers, enhance their horizons, and grow their business.
