It is essential for the public authorities to be able to quickly prepare notices and helps to bring more security, flexibility and transparency to public accounts in general.
Therefore, today the Public Procurement Portal will teach you everything about the price bank, how it works and its main advantages, in addition to showing you the completely free solution we provide to buyers around the country. Enjoy your reading!
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What is a price bank?
A price bank is an advanced tool to help calculate reference values for contracting.
It is very useful for the public sector, as it provides agility and allows the server to easily find reference prices throughout the national territory.
This has the advantage of reducing costs, as the server can check whether or not the proposals made in a bidding process match market reality.
What is price quotation?
A price quote is a comparison between prices of a product or service that must be made before the government starts the purchase or contracting process.
This type of practice is not only about choosing the price , but also serves to evaluate the conditions and quality of a product or service.
Therefore, before the government makes a purchase, it is necessary to obtain a correct price quote to ensure that the bidding follows its purpose: to buy the best product at the most advantageous price for the State.
How does the price bank work?
The price bank is a tool that works as follows: the public buyer accesses the platform and, from there, can see the main quotes made both in bidding processes on the Public Procurement Portal and in the Federal Government's public database.
In other words, simply log into your buyer account and choose to search for a specific item or a batch of multiple items at the same time.
The tool will automatically survey the main quotes made in the country and within our platforms.
With this, it is now possible to receive a database with the prices for a given product or service, all filtered.
From then on, the servers responsible for the bidding process simply need to carry out a qualitative analysis, as the price analysis will already be ready, cutting out part of the process.
What is the purpose of the price bank?
What is the purpose of the price bank?
The main objective of the price bank is to help the public authorities find the average price charged on the market for a product or service.
This way, when carrying out a bid, the employees responsible for the event will have a much better idea of the price that the participating companies are charging.
Ultimately, it is a tool that will help reduce the chances of an overpriced budget, for whatever reason.
This tool becomes especially useful in cases of bidding waiver, for example, as the public authorities will have a basis for making a purchase that will not go through the common bidding procedures.
Read also: Price Registration System: what it is and main advantages
What problems does the price bank solve?
Using a price bank solves several problems for the public sector, helping from the beginning of a purchasing process to the implementation and completion of a contract.
As it is an advanced tool, it contributes to the calculation of reference values uk business email database for the execution of contracts, solving several problems that may arise in the day-to-day execution of a notice , such as:
Delay
Tenders are bureaucratic processes and, for this reason, they can often take a long time to be completed.
However, it is the duty of the public authorities to work with precision and speed in all their processes.
For this reason, it is part of the server's routine to deal with situations that require a lot of time and effort to verify information, such as in the planning phase of a bid.
Using a price bank to find out the average price for a given product or service helps civil servants to advance parts of the process much more quickly, speeding up the bidding process in general.
Furthermore, as we saw in the previous topics, this tool is also extremely useful when we are talking about government purchases that, for one reason or another, do not go through the bidding process.
Access to a price database allows the government to increase the speed at which it makes quotes, which will result in a much faster and more transparent purchase.
Overpriced budget
Another problem that can be solved through the use of a price bank is cases of overpriced budgets.
Often, this type of problem can occur due to a failure during the bidding process, which causes the government to pay more than it should for a certain product or service, which, in turn, goes against the principles of bidding.
With the price bank, this type of problem can be avoided, since the servers, even before opening the notice to the public, will carry out a price study and qualitative analysis of the main solutions available on the market.
This way, it is possible to keep everything within budget and know how to identify which prices are overpriced, avoiding a purchase that is disadvantageous for the government.
Furthermore, it is a way of increasing transparency, since the data collected also goes to a database that can be consulted by other bodies, by oversight mechanisms and by civil society.
What are the advantages of the price bank?
Now that you’ve seen what a price bank is, how it works, and what problems it can solve, it’s time to take a look at the main advantages of using this type of system in your hiring process. Check it out:
Speed
One of the main advantages of using a price bank is that it eliminates the need for budget allocation.
In other words, this means that the public authorities will be able to carry out a bidding process even in times of budgetary contingencies.
This applies, more specifically, to situations in which the purchase does not need to be immediate, because, as soon as the resources are released, everything will be ready for the public administration to simply place the order and receive the product or service.
This, as a natural consequence, ends up speeding up the entire bidding process, that is, it helps to ensure compliance with one of the basic principles of bidding .
More flexibility when making purchases
More flexibility when making purchases
Often, public authorities may find themselves in situations where they need to make a purchase or contract a service or product that is unpredictable or difficult to predict.
In these cases, the administration can estimate the quantity to be used during the validity period of the minutes, but it is not obliged to do so, unlike what occurs in traditional bidding processes.
Through the price bank, the supplier is obliged to supply under the conditions of the Minutes (unit price, validity period, etc.), but the public administration, on the other hand, will only place the order if necessary, at the time it is necessary, and in the quantity required for each occasion.
Thus, a bid to purchase a thousand units of the same product, for example, if carried out without the price bank, the government would receive the thousand units and could not even use them or use them in insignificant quantities, losing the validity of the unused products and generating a huge loss for the public coffers.
If the government makes this purchase through a price bank, the administration can request the units as they are effectively used.
In other words, it will not be required to purchase a thousand units at once, making the acquisition process much more flexible.
Security
Another advantage of the price bank is that it provides more security for the buyer in general.
By using this type of tool when preparing the notice, it is possible to make purchases that are within the stipulated values.
This brings more security to the entire bidding process, avoiding situations of over-budgeting and protecting public coffers.
Various sources
One of the most significant advantages of using a price bank to prepare a notice is the varied number of sources.
When you can see price quotes from across the country in one place, it's easier to spot when the price you're being charged is too high.
In this sense, the price bank emerges as an intelligent solution for the public authorities to be economical in their purchases and follow the principle of economy.
When there are not multiple sources, the chances of the government being harmed in a given transaction are much greater.
Therefore, whenever you are preparing a notice for the contracting of a product or service, consult a price bank to get an idea of the budget that will be spent and the quantity and quality of the products you will receive.
Transparency
Transparency
Finally, one of the main advantages of the price bank is that it brings more transparency to public procurement in general.
This is because the data from price banks is public and can be audited by regulatory bodies and civil society.
In this way, it is possible to follow the principle of transparency and improve the effectiveness of public spending in general.