Features of GEM Registration
GeM eliminates the need for a human interaction during seller registration and, taking everything into account, organises position and payment preparation. GeM is an open platform that places no restrictions on legitimate vendors who want to work with the government. SMS and email notifications are delivered to buyers, the buyer's association head, payment experts, and merchants at each stage. Through integration with PFMS and the State Bank Multi Option System (SBMOPS), cashless and time-bound payment on GeM is encouraged online. Web-administrations integration is also being expanded to payment systems for the Railways, Defense, major PSUs, and State Governments. The Department of Expenditure's OM mandates time-bound online payments through smooth processes, which has provided vendors confidence and decreased their "administrative" costs associated with pursuing officials for timely payment.
A coordinated purchase on GeM should be achievable in a matter of minutes, and the entire process is online, fully integrated, and equipped with online tools for assessing value sensibility. In comparison to popular e-acquisition frameworks in the Government sector, the offering/RA office on GeM is one of the most user-friendly and effective for higher value acquisitions. The buyer does not need to provide their own unique, specialized details for making an offer or RA because they have been institutionalized on GeM. The offer/RA can be made quickly and finished in no more than seven days. All qualified providers are informed of the offer/RA via email and SMS. New providers are also informed after they enlist on GeM online and are determined to be "qualified" by the framework. These types of diamond offerings/RA ensure competition, reasonable play, speed, and effectiveness while also encouraging appropriate value disclosure. The reasonableness of the prices may also be confirmed by online comparison with the promoted price on motivating internet business entryways. In order to ensure that an identical item has not already been purchased at a lower price by another Government agency, from the same or a different seller, GeM will soon start receiving feeds from many other open acquisition gateways. By integrating with GSTN and ICEGATE, which will enable the buyer to learn the cost of an item when it left the plant doorway or was imported into the country, the purchaser's sense of cost will also be strengthened. In the hands of government associations, they would make GeM a highly effective tool to arrange and get.
Safe and Secure
GeM is an entirely secure platform, and buyers and sellers electronically sign all of the archives on GeM at various stages. The MCA21, Aadhar, and PAN databases automatically give evidence of the providers' forebears. Additionally, SEBI-authorized FICO assessment offices are also used to guide independent provider evaluation. This would further support the need for thorough investigation into the reliability of service providers who intend to collaborate on GeM. An e-Bank Guarantee is also being given for large value bids/RA on GeM.
GeM is unquestionably a superior framework than the one that is currently in place, which depends more on financial instruments (EMD in the event that tenders for large acquisitions are issued) to guarantee excellent provider leadership. Currently, there is little oversight of the suppliers of low value acquisitions (up to Rs. 1 lakh) whose aggregate value is significant across Government enterprises. Independent of the estimated cost of the procurement, GeM does a complete online check of every supplier.
Potential to Support Make in India
The channels are available on GeM for selecting products that are consistent with Preferential Market Access (PMA) and those made by Small Scale Industries (SSI) enable government buyers to efficiently obtain Make in India and SSI products. Easy access to MIS gives CEOs and those who create agreements more power to properly and appropriately approve government directives for PMA and SSI sourcing.
Savings to the Government
In contrast to the delicate Rate Contract and direct buy rates, the GeM portal's simplicity, efficacy, and convenience have resulted in a significant reduction in expenses for GeM. GeM's standard prices are decreasing by at least 15-20%, and occasionally even up to 56%. Demand Aggregation is another service provided by Jewel for items that need to be secured by several state and federal government agencies. It is expected that Request Aggregation will further reduce expenses through the codification of information and economies of scale. It is estimated that request consolidation for the majority of fundamental goods and services will result in a yearly revenue of Rs 40,000 Crore. If GeM had followed through with its rational decision, it would ultimately emerge as the National Public Procurement Portal, adhering to the globally recognized