In the recent past all the big scams such as 2G spectrum, coal mine scam etc., are majorly concerned with the procurement process involved in allocation of such projects. Public procurement is the process of procurement of goods, services etc., for the public with the public money. Government companies are responsible to maintain transparency as they use the public money. Ethical practices followed in allocation of projects, contracts, material procurement dictate the fate of the company. Private companies are no exception for this as sustaining on the ethics only ensures sustainable competitive advantage. Following well-defined , clear-cut processes and guidelines with strict adherence to the systems, to be ensured by regular audits with true spirit, will definitely enhance the transparency in the public procurement. Information Technology is an effective tool to bring out transparency as well as efficiency and effectiveness in the procurement process and the audits by reducing the process delays. e-tendering, e-procurement, e-auction, e-audit and monitoring are the need of the hour now. The Public Procurement Act 2012 states to float tenders above 50 lakhs online in the company website. However, bringing the awareness in the vendors about e-tendering and encouragement for such process, IT security are some of the challenges.
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