TSTT’s e-Tender - improving business efficiency and driving competitive advantage locally and abroad
TSTT Corporate Communications
Several small, medium and large businesses on both the local and international markets have begun modernizing their procurement processes by implementing TSTT’s e-Tender platform.
Developed in 2012, e-Tender is Trinidad and Tobago’s only locally owned and automated procurement software solution for end-to-end RFx and e-Auction Management; from bid issuance to contract award and spend management. e-Tender improves the efficiency and transparency of procurement processes by leveraging world class technology to facilitate a radically refined Supply Chain Management solution. The software runs on TSTT’s VM Certified Cloud and fully certified TIA- 942- B SOC 2 Data Centre; one of only five in the Western Hemisphere.
Chief e-Tender Services at TSTT, Keino Cox, noted that the Company has successfully implemented e-Tender throughout several government-run organizations in the twin-island republic and is now extending its reach to the wider Caribbean, UK, Asia and other parts of the world. “e-Tender allows businesses to create a sustainable competitive advantage through e-Procurement. The platform provides businesses with an online marketplace to source new vendors on a global scale. They now have the opportunity to offer services to a wider customer-base. Conversely, potential suppliers and entrepreneurs seeking to do business with an entity now have an online window to do so,” stated Cox.
Cox further noted that in May 2020, the World Economic Forum outlined that organizations will need to be reconceived to combine human ingenuity with machine learning to survive the current reality. “To this end, e-Tender provides an enabling mechanism to digitally transform businesses by kickstarting the automation within the procurement value chain and driving reengineered goods and service delivery processes. Critical to the automation however, is human capital development. TSTT’s dedicated e-Tender support team provides all the required procurement and process training, onboarding and advisory services to ensure a seamless transition for the organization in readying for the new business reality,” he added.
Aside from promoting smoother and more transparent trade and investment between entities especially in the public sector, e-Tender draws attendant cash savings and greater efficiencies; both of which are key in a post-pandemic world. To date, e-Tender has over 3,000 registered vendors with visitors from over 129 countries to the online marketplace. The platform has recorded more than 100,000 unique sessions and has facilitated in excess of 5,000 tender sales since its launch.
Local organizations such as the Urban Development Company of Trinidad and Tobago (UDeCoTT), First Citizens Bank, Southwest Regional Health Authority (SWRHA), the National Quarries Company Limited (NQCL) and National Insurance Property Development Company Limited (NIPDEC) among others, have already received specialized training and are currently on-stream with e-Tender. Since its implementation, these companies have become more financially efficient whilst creating new revenue streams. They have also widened their supplier base by automating previously manual processes and moving to a fully digital experience via e-Tender.
On the international market, Irish based company, Nasc Technologies Limited has already made the switch to e-Tender’s Software as a Service (SaaS). CEO, Desmond Keary, shared, “Before using e-Tender, our procurement processes were very messy. Our quotes and tenders were sent via email which was time consuming. e-Tender has helped us achieve our financial goals by saving money and getting better deals. Within two weeks, you could move from Microsoft Excel sheets and email, to being fully online. It’s innovative and has significantly boosted our organizational capabilities.”
Keary credited the software’s user friendly interface and intuitiveness as a major selling point. “We were surprised that a TELCO had developed such SaaS software. I think this a testament to the work that is done in TSTT and the innovation capabilities of the company.”
Cox noted that several companies have shown interest and are reaching out to TSTT to inquire about the platform. “We have seen a heightened interest in e-procurement and we’re excited about it. However, we’re not stopping here. We have a cycle of development that includes new automations and new areas to push e-procurement even further. At TSTT, we’re very proud to know that this system was designed in T&T and happy to now add an extra layer of business which connects customers and people together on the marketplace,” stated Cox.