RICS says service will offer cost reductions for buyers and suppliers

The RICS claims to have launched a more streamlined way for the construction industry to manage the procurement process.

RICS said the eTendering service would reduce cost for both the buyer and supplier as well as improve the overall way business is conducted.

The service will be launched on 18 October at RICS headquarters in London.

Spokesperson Andrew Thompson said: “eTendering will revolutionise the laborious manual tendering process, as it’s secure and cost effective."

"This product will help to reduce existing paper-based procedures– you won’t need to print out documents, package them or deliver them by post."

“It’s a method of exchange of documents and information that will drag tendering practices into the 21st century and is intrinsically more efficient than current methods.”

The service is offered on a pay per tender basis to buyers at £500 to register each tender, and there are no subscription fees.

Contractors and suppliers can use the system for free.