How It Works

At Matrix Nodes we believe automation should simplify the complex process and deliver cost savings. Unstructured and manual processes not only delay the process but also lead to information leakage which only results in risk prone decisions and creation of clutter.

Organizations can easily free their resources with Bidding Engine for strategic work. Bidding Engine provides unique functionalities which assist organizations to increase speed around bid and tendering process and improving transparency & accountability. It provides with enhanced control and helps in maintaining compliance requirements which may be lost in manual process. Decision makers can easily take sound decisions on the basis of information and bring efficiency.

Few of the unique functionalities which this solution offers:-

1. Create multiple categories and sub categories: Organizations have vendors who are specialist in particular goods and services under a particular category to reach out to right parties organizations can easily manage these categories and sub categories within it.
2. Invite, Approve or Blacklist vendors: To manage vendor panel organization may invite new vendors to participate or approve who have submitted their request online or blacklist existing vendors from future bids and tenders
3. Invite selected or all empanelled vendors: Organizations might know their vendors strength and would like to invite only limited vendors or if required can reach out to all within respective sub category
4. Send SMS alerts and emails: Integration with SMS gateway and mailing system allows reaching out to all parties in a single click
5. Reuse Documents: No need to duplicate, organizations can reuse already uploaded documents for future bids and tenders
6. Get Consolidated reports: Bidding engine provides consolidated reports for various parameters, like number of responses submitted against each invitation, payments disbursed and additional reports can be developed as per requirement
7. Create workflows: Organization can create various workflows like for short listing and approval of submissions
8. Meet Compliance: It helps in managing compliance requirement through record management and ‘E-Lock’ functionalities
9. Provide confidentiality to parties: To maintain compliance parties are only allowed to view their own submissions.
10. Securely available over the internet: As a web based solution both the parties can access anywhere anytime over the internet
11. Attach any number of file and any size: There is no restriction for file uploading.
12. Online viewer: Online viewer assists in view document files to be viewed online without downloading the same.
13. Generate purchase orders: To selected party purchase orders can be released online and similarly vendors can submit bills online
14. Release payment directly to vendor bank account: Payment disbursement can take place online no need to release cheques or have a separate system.
15. Vendors can view their own account statement: Vendors can login and view their submission status, purchase orders, payment details online