DBM to release new e-procurement system

Thursday 22 March 2018 00:12 CET | News

DBM of Philippine has announced plans to launch a public procurement system to address slowdowns and difficulties encountered by government agencies and merchants.

Dubbed as Philippine Government Electronic Procurement System (PhilGEPS) version 1.5, the portal is an upgraded version of the online procurement channel. PhilGEPS 1.5 boasts of improved services that will allow government agencies to post their bids and awards information online.

Also, through the portal, registered contractors, merchants and consultants will be able to participate in the procurement of goods, civil works and consulting services.

The Department of Budget and Management (DBM) said PhilGEPS 1.5 is a temporary upgrade of the existing version of the electronic portal until such time that a modernized GEPS is up and running. Transition to a modern GEPS is expected to be completed in 2019.

Modernized GEPS will also include the Annual Procurement Plan of procuring entities, aside from the existing features of PhilGEPS. Online bid submission and payment will be made possible with modern GEPS. To facilitate requests for quotations, purchase orders and other transactions, an e-catalog will also be made available to procuring entities and merchants.

Merchants may also soon be allowed to offer their items and try to outbid one another through the e-Reverse Auction. Data analytics to generate statistical procurement reports may also be expected soon.

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Keywords: DBM, e-procurement, government, public procurement, Philippine
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech