The eBidding module has helped reduce government expenditure by between 20 and 40 per cent of the allocated budget, said system developer, Commerce Dot Com Sdn Bhd in a statement on Friday Jan 22.
The module was first introduced in 2006 to help realise the Finance Ministry's vision towards providing innovation and efficiency in public sector procurements.
eBidding adopted the concept of reverse auction, where shortlisted government suppliers compete with each other, by offering their lowest prices in a real-time and online bidding platform in order to secure a government
contract. For suppliers, the advantage of using the eBidding module comes from a faster procurement cycle which also leads to faster payments. -- Bernama
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