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What is Tender and Procurement Management?

Tender and procurement management are processes involved in the acquisition of goods, services, and works by an organization or government agency. The tender process involves inviting bids from suppliers or contractors to provide goods, services, or works for a specific project or requirement. Procurement management involves the entire process of identifying the need for goods or services, selecting suppliers or contractors, negotiating contracts, and managing the delivery of goods or services.

Tender and procurement management are critical for organizations to ensure that they obtain the best value for their money while adhering to ethical and legal standards. The tender process typically involves several stages, including identifying requirements, preparing and issuing tender documents, evaluating bids, selecting a supplier or contractor, and negotiating a contract. Procurement management involves selecting suppliers, negotiating contracts, monitoring supplier performance, and managing any disputes that arise.

Effective tender and procurement management can result in several benefits, including reduced costs, improved supplier performance, increased efficiency, and enhanced transparency in the procurement process. However, poor tender and procurement management can result in increased costs, delays, disputes, and reputational damage. Therefore, it is essential for organizations to adopt best practices in tender and procurement management to ensure the best outcomes for their projects and overall success.

Here is a sneak peek of Visure’s Features for Tender and Procurement Management:

  • 0:10 – Visure Solutions Dashboard
  • 0:58 – Requirements Documents & Procurement
  • 1:18 – Requirements Review in Visure Application
  • 3:28 – Improving the Quality of Requirements 
  • 4:29 – Working of the Private Access when Sharing the Requirements Documents
  • 7:07 – Working on the web version of the Visure Application
  • 8:02 – The List View of the Document
  • 10:50 – The Traceability Tree and Dashboards
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Automating End-to-End Traceability Coverage

June 13th, 2024

11 am EST | 5 pm CET | 8 am PST

Fernando Valera

Louis Arduin

CTO, Visure Solutions

Andreas Horn

Senior Manager, Vector Informatik

Gaining Full Requirements Traceability & Measuring Structural Coverage for Standard Certifications

Learn how traceability enhances transparency, mitigates risks, and ensures all project requirements are met.