TenderBazar.com

Description

TenderBazar.com, an initiative of Synesis IT, is the largest online platform that brings the bidders/suppliers and inviters/procurers together to exchange business procurement information. TenderBazar.com collects public procurement information from various sources (mainly daily newspapers) and then through a streamlined process of sorting, sealing, cutting, scanning, uploading, interpreting and QA, it publishes all tender information in the portal and notifies subscribers based on their product/service preferences through email and SMS. Utilizing state of the art technology, TenderBazar.com interprets tender information in such an innovative way (i.e. translation engine, automatic product mapping tool etc.) that ensures 100% accuracy and provides subscribers the guarantee of not to miss any single tender ever. TenderBazar.com also serves as a knowledge hub of public procurement information through tender analytics reporting engine that helps subscribed members to develop their understanding of tender related market trends. TenderBazar.com gives space to all govt. and private procurers to publish their tenders online and ensures delivery of tenders to the targeted bidders/suppliers. TenderBazar.com also facilitates the activities of monitoring bodies of public procurement by generating various types of analytical reports. This portal was commercially launched in the middle of June 2011 after a 3 years long research and development.

What we deliver

TenderBazar.com delivers distinct types of services to the following target customer groups. For Bidders/Suppliers: TenderBazar.com collects all tender information from various sources, compiles all those in a single place and finally after interpretation utilizing its own translation engine, it sends tender notifications to bidders via email, SMS and portal. Not only that it always reminds the bidders about what to do and when. TenderBazar.com also serves as a knowledge hub on tender information through its Tender Analytics reporting tool that helps bidders to understand tender related market trends. For Inviters/Procurers: TenderBazar.com gives space to all procurers (both govt. and private) to publish tenders and ensures delivery to the targeted bidders. This online service ensures inviters to publish tender with extensively less cost and eliminates delay unlike traditional media (such as newspapers). Alternatively, procurers can also organize, manage, archive tenders here and create reports of their ongoing and previously published tenders according to projects, source of fund, budget etc. For Govt. Monitoring Body/Researchers/Policy Makers: Through tender analytics module, TenderBazar.com can serve government monitoring body to keep an eye on tender publications with a holistic view and assess compliance with Public Procurement Act, such as, which EOI gives less or excess time to submit as per the rule of PPR 2008 or does a tender follow publication guidelines while publishing in newspaper etc. On the other hand, TenderBazar.com can also help researchers/policy makers regarding public procurement by providing various analytical reports like tender trend analysis, geographical distribution of tenders, govt. vs. private tenders, local vs. international tenders, time series analysis etc.

Whom we deliver

Bidders (who actually participate in Tenders) from different industries are availing the services of TenderBazar.com. Right now (as of 09/09/2011) there are more than 2339 bidders availing the services of TenderBazar.co and as per market demand analysis this figure will be minimum 6,000 and 12,000 at the end of year 2011 & 2012 respectively. Industry wise membership distribution is listed below: Industry Name # of bidders as of 09/09/2011 Agro/Fisheries/Forestry/Food/Feed 96 Art/Craft/Fashion/Entertainment 20 Automobiles/Vehicles/Transportation 128 Business-Support/Professional Services 171 Chemicals/Fertilizers/Paints/Dyes 47 Construction/Building Materials 87 Construction/Infrastructure Works 177 Consultancy/Intellectual Services 94 Electrical Systems/Energy/Power/Gas 169 Electronic & ICT Products 261 Furniture/Interior-Design/Decoration 66 Garments/Apparel/Textiles 50 Hardware/Spares/Mechanical Tools 11 Health, Medical & Pharmaceuticals 119 Household Appliances/Supplies 9 Jute/Leather Goods 60 Machineries/Equipments/Instruments/Plants 112 Metals, Mines & Minerals 26 Office/Stationeries/Educational Supplies 34 Physical/Labor-Intensive Works 8 Plastic/Rubber/Synthetic Goods 11 Printing/Publishing/Packaging/Binding 60 Software/Hardware/ICT/Telecom 413 TenderBazar.com is going to launch another service at the middle of October 2011 where inviters/procurers (organizations who float/publish tenders) themselves can publish tenders online at TenderBazar.com. Design and development of this new service has already been completed.

How is the project unique?

TenderBazar.com has already created a unique position in the market within a very short time. Just within 2 months and a half from its inception, there are more than 2339 customers get registered here. TenderBazar.com is always thriving to complement its customer needs in an innovative and unique way that clearly differentiates it from both local and global aspects. Followings are some examples: Translation Engine and Product Mapping Tools Ensure Bidders Not to Miss Even a Single Tender: All other portals in Bangladesh 100% depend on human memory i.e. here every interpreters must memorize millions of tender products which is almost impossible for a person. That why they always do mistakes to map tenders with relevant products whereas TenderBazar.com does not depend on interpreter memory, it depends on its Back Office (BO) translation engine, product mapping tools and its extensively rich product dictionaries. Here there are two types of challenges. The first challenge is to translate tender title, since more than 50% of tender content is in Bengali. TenderBazar.com resolves this first challenge through its translation engine. For example, a tender is published in Bengali language. If we write its Bengali title in English phonetics the title becomes Kitnashok Shoroboraho. Here Kitnashok means Pesticides and Shoroboraho means Supply so if we translate it the title should be Supply of Pesticides. Here the interpreter will not translate, he/she will just write original Bengali title in English phonetics i.e. Kitnashok Shoroboraho. Now it is the responsibility of translation engine to convert it in appropriate English format as Supply of Pesticides. Not only that when user types Kitnashok the system will display two synonyms of Kitnashok i.e. Pesticide and Insecticide with Bengali meaning in Bengali letters. Now the second challenge comes i.e. the mapping of products. Here also the system will automatically find out relevant products from the database once the title is completely typed. In this case, the system maps this tender with Agrochemicals/Fertilizers product because both the words Pesticide and Insecticide are stored as a bi-product of Agrochemicals/Fertilizers product group. This is one of the most innovative parts of TenderBazar.com. Right now, both product dictionary as well as the translation engine has become so rich that they ensure almost 99% accuracy in translation and product mapping without human intervention. Inviter Based Notification Services: All other portals in Bangladesh can only send tender notification (not 100%) based on the bidder product preference; where as there are some bidders who want tenders against organization (not based on product preferences), locations etc. TenderBazar.com is the only portal which can complement all these types of needs with 100% accuracy. Synonym Search: TenderBazar.com is the only portal which supports synonym search. For example, if a user wants to find tenders typing in the search box, tenders whose title comprises the word computer will be displayed in the search results. In other tender portal the search results cannot retrieve that tender because its title does not contain the word PC TenderBazar.com Services Never Close: TenderBazar.com runs 7 days in a week. It never closes its operations even in weekend and holidays unlike other portals. Relating Corrigendum/Cancellation Notice with its Original Tender: Only TenderBazar.com can relate any corrigendum or cancellation notice with its original tender. As a result, respective bidders can be notified if any corrigendum/cancellation notice published.. Tender Analytics: It is a repository of various MIS reports that facilitates not only the bidders and inviters, but also the wider community like researchers, policy makers, donor agencies, development partners, media and citizens for analyzing market trend and various tender statistics.

Roadmap

Bangladesh has seen significant growth in trade activities over last few decades. There has been tremendous advancement in production, research, procurement, financing and technological aspects. With increasing volume of business, there has been increased need for attention towards social issues, ethical practices and transparencies. Government of Bangladesh, in its vie to introduce transparency especially in public procurement has established rigorous procurement guidelines. As a part of the endeavor, government is working towards implementing Electronic Procurement System, widely known as e-GP. Such initiatives from government to ensure procurement transparency have not gone unnoticed by private sector. Hence TenderBazar.com was launched with the passion to become a companion in the path of procurement transparency to form a digital Bangladesh. After three years long journey in terms of research and development, TenderBazar.com was commercially unveiled in the web at the middle of June 2011. Since then TenderBazar.com is continuously enhancing its operational excellences as well as introducing new features getting feedback from its customers. The ultimate dream that all the team members of TenderBazar.com have been cherishing in their mind is to help organization to establish a good governance practices in public procurement domain and off course to become the inspiration for all to form a digital Bangladesh. As per the project vision it will be going to achieve different milestones in the upcoming years which are listed below: SL Milestone Launching Deadline 1. Tender notification services for bidders Already launched 2. Online tender publishing facilities by all govt. and private inviters Will be launched at the middle of October 2011. 3. Tender analytics for bidders, inviters, monitoring bodies etc. Will be unveiled at the middle of November 2011. 4. Integration with payment gateway By December 2011 5. Introducing partnering model and sales outsourcing By March 2012 6. Tender management tool for inviter/procurers By June 2012 7. Introducing keyword advertisement facilities By June 2012 8. Introducing hosted tender portal for procurers By December 2012 9. To become a Global Tender Portal By December 2013 10. Creating franchise in foreign countries By June 2014 11. End to end procurement consultancy both locally and globally By December 2014 Apart from above mentioned goals and milestones, TenderBazar.com has some aspirations which are: To achieve a regional award by December 2011 To become # 1 tender portal in Bangladesh by December 2011 To achieve an international award by December 2012

Contact

Synesis IT Ltd.
Shohorab Ahmed Chowdhury, Managing Director
ICT Incubator, Level 3 (East), BDBL Bhaban, 12 Kawran Bazar Dhaka Bangladesh- 121500
http://www.synesisitltd.com