Gem Registration Compared To The Traditional Public Procurement System

By Author: ajit
Total Articles: 6
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Introduction:
Today, enterprises dealing with gems always look for innovations in their activities and increase the scope of their operations. Among the most important changes that have taken place very recently is Government e-Marketplace, or GEM. As the new face of the way government agencies purchase goods and services, GEM became an extremely valuable tool for sellers and buyers simultaneously.
And yet the old system persists, trudging along with pen and paper and weeks of tenders. But if a seller of gems knows how GEM compares to this old way of doing things, they can decide which is best for them. In this article, we will highlight the main differences between GEM and the old procurement process and the reasons why GEM is destined to be the future of procurement in the gems business.

What is GEM Registration?
Government e-Marketplace, short, GEM, is the web platform for India's government procurement. You are selling gemstones and jewelry, or whatever, and you can now have a smooth means to do business with the government. what does that mean to the seller?
With the GEM Registration, businesses ...
... in the gem industry gain easy access to a vast number of government buyers, from departments and ministries to agencies looking for suppliers. This will mean everything is online and quite a bit of the red tape historically associated with public procurement swept aside.
For vendors, the benefits are clear: a larger field of customers, increased competition, and quicker purchases. GEM Registration for Vendors means that once your business has been validated and registered, you may start bidding on government contracts, without the reams and reams of paper. It's simple and the potential could be tremendous.

How the Traditional System Works?
Next, let us look at the traditional public procurement system. This system has been in place for so long and forms a ready accommodating option for businesses to establish mutual contracts with the government. The whole essence of submitting tenders in expectation of approval then walking through the bureaucratic red tape.
Unfortunately, for such producers as gems wholesalers, the system can be very tiring to negotiate. There is a lot of paperwork that needs to be signed and processed, and the process required in bidding on tenders may be overwhelming to small business firms. In addition, a contract may take sometimes as long as months before they are passed, hence delaying business activities, which consequently delays cash flow, and affects operations.
It is evident that while the old system is reputable and established, it cannot perform some tasks, especially for smaller or new businesses trying to get their foot in the industry.

GEM vs. Traditional Public Procurement: How Do They Compare?
How does GEM stand against the traditional public procurement system? Let's break that down.
• Transparency and Efficiency
One of the excellent attractions of GEM is its transparency. Everything takes place online, and the sellers can see minute-by-minute updates on bids and even procurement processes. Transparency at this level is scarce to attain under the traditional system where information may be cloudy and time-consuming. For the gem sellers, this is quite a few surprises coming in, and they can easily find out where they stand in the procurement process.
• Accessibility for Small Businesses
GEM also gives a level playing field. The small and medium-sized business operation in the gems industry can now compete for any government contracts via an online system. The process is not complicated, hence you don't need a huge team to solve this process. This contradicts the traditional method where bigger businesses had an advantage since they could handle complicated tendering processes.
• Time and Cost-Effective
Money is time in business, and GEM saves both. By eliminating unrequited paperwork and manual processing, GEM reduces the time taken to secure contracts, thus cutting costs. Businesses must put a huge chunk of their time and resources into maintaining the procurement process with no guarantee of a real probability of success in this traditional system.
• Digitalization and Paperless Processes
GEM embraces the future with an entirely paperless acquisition process. That accelerates and expedites acquisition speed while also saving on printing requirements, for which the conventional public procurement system is characterized by printed documents and face-to-face submission- inevitably slower and very friendly.

Why GEM is the Future of the Gem Industry?
At a time when the gem industry is changing, GEM is assisting businesses in staying ahead of the curve. As government departments and agencies increase the number of procurements done digitally, the appetite for the likes of GEM will be insatiable.
Its ease of use, cost-saving benefits, and increased accessibility to government contracts make GEM the optimal environment in which businesses can flourish. In a world where agility and speed are the essence of requirements, traditional procurement simply cannot keep pace with change and that is why GEM has emerged as the solution gem sellers need to efficiently secure government contracts.
Conclusion:
It is clear in this battle between GEM Registration and the traditional public procurement system that GEM has the upper hand. With a transparent, effective, and accessible platform, GEM is already providing the diamond trade with the tools necessary to compete in this competitive world of public procurement. And though the old system may still be written about as a past regime, the future is definitely in digital platforms - in this case, GEM.

Learn more at: https://gemregister.org/