Current online procurement solutions operate on legacy platforms where there is a lack of transparency and inability to audit, which makes them susceptible to manipulation. The majority of economies still use manual processes which are costly, inefficient and susceptible to fraud & corruption. There are no holistic solutions on the blockchain that cater for the complete, end-to-end competitive bidding process.
With the advancement of technology, SupplyBlock helps solve these challenges by providing an innovative, easy-to-use blockchain integrated technology platform that is both process & cost efficient, secure and completely auditable across the entire value chain. Through features such as automated scoring and full audit capability SupplyBlock is able to curb corruption and ensure bid integrity and transparency.
The platform adds equal value to the bidder and tender creator with both RFX originator and bidder using the same platform to ensure a holistic procurement solution
SupplyBlock Competitive Bidding Module is a blockchain-powered, RFX solution that services the full procurement value chain for all size businesses across multiple industry sectors. This includes supplier take-on & verification, bid creation, bid submission, supporting documentation submission & validation, with automated scoring and reporting.
SupplyBlock Competitive Bidding Module enforces end-to-end transparency and integrity, from procurement decisions to the validation of suppliers (“bidders”) qualification data, through to contract award and subsequent project monitoring. It is an easy-to-use, template driven, e-procurement solution that is constantly benchmarked against best practices across multiple industries. It is a web-based platform that drives process & cost efficiencies. It connects “buyers” and “sellers” in a secure, transparent and fully auditable environment.
The platform design is user friendly and efficient with customizable features such as bespoke reporting tools to enable users to remain competitive with key insights into all spending, bidding and advertising on the platform, and across the entire procurement process. Through SupplyBlock technology solution, corruption, mismanagement, and wasteful expenditure is reduced and hours upon hours are saved through more automated bidding and scoring processes— thereby increasing the effectiveness and impact of the procurement process
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SupplyBlock has real-world international application across multiple industry sectors, along with a developed platform and pipeline of new business.