Tendium
AI automates the tender process – Tendium is a Swedish startup that works to democratise the possibility of responding to tenders in public procurement
Client
Tendium
Industry
Research Company
Country
Sweden
Services
Dual-function Portal
Team
-
Background
The public sector is huge and accounts for around 17% of Sweden’s GDP. Public procurement work is time-consuming, as manual processing and administration takes a lot of time and costs a lot. Between 5-50 documents go through each tender, and it can cost up to half a million to prepare a bid for a large tender. As a result, many companies never get the chance to compete in any of the 18,000 tenders issued each year. According to a survey by the Confederation of Swedish Enterprises, 96% of suppliers are dissatisfied with the procurement process. Tendium works to open up the market for public documents and democratise procurement. This will reduce the waste of taxpayers’ money caused by inefficient procurement procedures.
Challenge
Tendium’s goal is to use AI to automate the process and ultimately simplify the procurement process. Lacking the experience and knowledge required to build AI, they decided to look for the right IT providers to bring their idea to life.
Tendium wanted to use AWS and build in the cloud from the beginning, which led them to look for a provider that had the experience and knowledge the project required. The choice fell on Euvic, who brought experience with AWS. The project involved setting up DevOps to work agilely and in line with AWS architecture best practices. The focus throughout the project was on user experience and integration on the platform.
Solution
To automate the tender process, a dual-function portal was built. The solution is based on collecting and analysing tender documents using AI and ML. One function helps suppliers match their company to relevant tenders. As a supplier, you can easily check if your company meets the tender requirements. The other function sends notifications if you need to add information for a particular tender, for example, if a CV that is needed for a particular tender is missing.
Results
Artificial intelligence has started to level the playing field. The portal will open up the procurement market and small businesses will be more competitive with larger companies. By simplifying the process, where relevant data can now be quickly scanned, money previously wasted on lost contracts will be put to good use and better invested in other areas.
References
We had an idea to democratise the possibility of working in public procurement using AI. To achieve this, we needed a highly-skilled partner to help us bring our ideas to life. Euvic helped us build our idea, which is now Tendium. We've had a hard time finding these kinds of experts and elders in AWS and AI in Sweden.
Hannes Dernehl
Founder Tendium
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