What are the Advantages of GEM Registration?
About GEM Registration
The GEM (Government e-Marketplace) is a public sector e-commerce portal that enables convenient online purchasing of consumer goods and services by various organizations, government bodies, and public sector undertakings.The Government e-Marketplace (GeM) is a yet another shop for online procurement of common-use goods and services by various government departments, organizations, and public-sector entities. GeM intends to improve public procurement transparency, efficiency, and speed.
In the new model, the GeM annual milestone charges are made up of two parts: Whenever a seller’s yearly Seller Merchandise Value (SMV) surpasses Rs. 20 lakhs upon that GeM site, a fixed one-time fee of Rs. 10,000 is due.
If your Business gets registered under GeM-
- There will be contactless, paperlessregistration.
- You can access 43000 buyers’ organizations directly.
- There is no middleman within selling the government.
- Advantage of payments arriving at time.
- Advantage of Delivery Acceptance at time.
- You do not have to search for any tender notices in magazines and newspapers.
- There are least marketing efforts and expenses for one.
- Due to the dynamic pricing MSEs can allow change to price based on market conditions.
- Independence in product registration
- Sellers can authenticate their MSMEs status using Udyog Aadhar without having to upload or submit any proof to any authority in GeM, thanks to a Gem portal API connectivity with Udyog Aadhar.
- Government buyers will have easier access to a variety of goods and services.
- Make public procurement more transparent.
- Government spending can be cut to save money.
- Ensure and promote the use of cashless transactions.
For government e-marketplace registration, order placement, and payment processing, the technology has eliminated the need for a human interaction. As a result, this removes hurdles for suppliers who want to do business with the country’s government. Due to the digital verification that occurs at all times for buyers and sellers, as well as the Heads of Departments – who sanction the purchase– there is 100 percent transparency.
The online platform is effective in that transactions may be completed in a matter of minutes. There is also no paperwork to deal with, which saves time. Furthermore, online payments save time and simplify the overall company process.The internet platform is completely safe and protected, and it undergoes numerous tests. The government examines, authorizes, and approves the suppliers’ documentation.