1. Transparent Procurement: GeM ensures transparency in the procurement process by providing a clear and transparent platform for transactions. This reduces the chances of corruption and ensures fair competition among sellers.
2. Broader Market Access: For sellers, GeM provides an extensive market reach to various government departments, PSUs, and organizations. This increased visibility can lead to higher sales and growth opportunities.
3. Cost Efficiency: By cutting out intermediaries, GeM allows for direct transactions between buyers and sellers. This reduces procurement costs and ensures that buyers get the best prices for goods and services.
4. Streamlined Operations: The platform automates procurement processes such as tendering, bidding, and order placement. This leads to faster and more efficient transactions, reducing administrative overhead.
5. Quality Control: GeM has a rating and feedback system that ensures only high-quality products and services are offered. This helps buyers make informed decisions based on previous users' experiences.
6. Simple Registration Process: Registering on GeM is easy and requires minimal documentation. This makes it accessible to a wide range of sellers, including small and medium enterprises (SMEs).
7. Support for SMEs: GeM promotes the inclusion of SMEs in the procurement process, giving them a chance to compete with larger companies. This ensures a diverse range of products and services on the platform.
8. Real-Time Monitoring: GeM provides real-time tracking of orders and payments, ensuring accountability and timely delivery. Both buyers and sellers can monitor the status of their transactions.
GeM online registration is a significant advancement in public procurement, offering benefits such as transparency, efficiency, and broader market access for all participants.