Bidding makes it easy to develop bid specifications and preliminary cost data, as well as to analyze vendor responses and prepare bid awards. The preparation of purchase orders and the encumbering of funds are also less time consuming and less cumbersome with this module.
Bidding has an online catalog of items, whereby bid requests may be entered into the system by each department or location. Bid requests will be processed through the specified approval chain. Modifications can be made and vendor specification forms may be printed for distribution to prospective bidders.
With Bidding Vendor, bids are automatically awarded either by the lowest unit cost or total cost. Various reports allow administrators to analyze the responses and override low bids for justifiable reasons. Purchase orders are created and encumbered against the specified budget year.