What is electronic procurement and why are so many public agencies implementing SicommNets Solution?
Public agencies are seeking a total solution to automate their existing procurement systems, collect comprehensive data on expenditures, reduce the procurement cycle time, and reduce the cost of purchased goods and services. SicommNet offers public agencies a self-funded model, which obviously means that it pays for itself. SicommNet assumes all the costs of integration and implementation, and is compensated entirely from vendor transaction fees based on awards received. The system is hosted by SicommNet and includes a commodity/service classification code system to categorize each registered vendor by the commodity or service the company provides and generate reports based on the data collected. A public agencies decision to implement the BaSEC e-Procurement solution is based on the time and cost savings for the agency and the high level of compliance to both small and large purchase procedures. The BaSEC e-Procurement solution includes on-line vendor registrations, requests for quota
