GeM Sellers to get Advanced Features on GeM 4.0 Portal
In order to empower the small scale businesses and manufacturers, the Indian Government had launched the transparent e-Marketplace called Government e-Marketplace or GeM. Any small scale businessman or a manufacturer can access the business-friendly platform to sell his products to the distinguished buyers from the Government departments, where there is an urgency for such supplies, all with a simple GeM registration.
So far, the registered GeM sellers are using the GeM 3.0 login. As a step forward towards enhancing the convenience and seamlessness for the buyers & sellers having GeM registration, the government is soon to launch the all-new GeM 4.0 portal with more advanced features.
The new GeM 4.0 portal will go hand in hand with today’s cutting edge technology and will improve the buying & selling process for the users on Government e-Marketplace.
Let us have a look at the advanced features of the GeM 4.0 portal for the GeM sellers.
The GeM 4.0 will feature a new bidding system. There will be a buyer-wise bidding module for more easy purchases. This will help the sellers having GeM registration get more business, as they will now be able to get orders at the lowest bid for a product or specific location.
In the near future, more MSMEs, Artisans, Self Help Groups (SHGs), weavers registered in Hoonar Haat, and TRIFED will get GeM registration. The GeM department is also working with the Ministry of Rural Development, Ministry of MSME, Ministry of Textiles, Department of Minority Affairs for this.
The grievance redressal mechanism is set to improve. A new 3rd party CRM will be created in order to improve the efficiency and convenience, which will increase the transparency and decreasing Turnaround Time for customers.
A Blockchain system will be introduced on the GeM login for smart contracts, auto PRC, and bulk procurement of Pharmaceuticals. This functionality will be secure, efficient, and fair for both the buyers and sellers having GeM registration.
Advanced analytics will be introduced with artificial intelligence (AI), machine learning, intensive training, and equipping the public sector with cutting-edge technology. This will increase the competitiveness of sellers.
The User Interface (UI) of the GeM portal will be totally revamped for both buyers and sellers having GeM registration. This will make the GeM portal more efficient and hassle-free which would save efforts and time.
The pricing policy for the vendors having GeM registration will be improved. This will improve overall catalog health on GeM, with new parameters for price variance on the GeM platform and to simplifying cataloging on the GeM portal. Efforts for ensuring product quality of the listed products will also be made.
GeM 4.0 portal will now be integrated with many banks and ERPs. This will ensure timely payment and fast delivery acceptance with a new protocol for all vendors having GeM registration. Moreover, the GeM portal will be integrated with the TReDS scheme to allow invoice discounting and easy access to the working capital for MSMEs.
The public procurement process will be now consolidated through the UPS mechanism on a single platform. This will rationalize price for the govt. buyers and thus more trade for GeM sellers.
The GeM sellers will get incentives in the form of non-monetary credits if they fulfill functions such as timely delivery, catalog-correction. Such incentives will be like credits for availing certain benefits e.g. fast brand approvals, priority helpdesk, etc.
These are the key features of the upcoming GeM 4.0 portal.
Also know Annual Milestone Charge in GeM portal.
If you need any sort of guidance or assistance on GeM registration, please feel free to contact our business advisors at 8881-069-069.
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