What is meant by competitive bidding?
Competitive bidding is a common procurement practice that involves inviting multiple vendors or service providers to submit offers for any particular material or service. Competitive bidding allows transparency, equality of opportunity and the ability to demonstrate that the outcomes represent the best value. Hence, high value acquisitions usually undergo the competitive bidding process.
Unified Procurement Platform
GEP SMARTTM is a cloud-based, source-to-pay procurement software that delivers comprehensive spend, sourcing and procurement functionality in a single, unified platform native to cloud, mobile and touch technologies this would be below unified procurement platform