TenderBoard allows vendors to submit their quotations in foreign currencies if required. If you receive a bid in foreign currency, you will need to convert the quotation into your base currency in order to evaluate the bid. This guide will show you how you can do so.
Updating the Conversion Rate on the Evaluation Page
If you are performing the evaluation for a deal with a bid in foreign currency, you will only be able to proceed once the conversion rate has been entered. You may update the conversion rate on the Evaluation Form directly, by following these steps.
First, go to the Evaluation Form by clicking on the Evaluate button for that deal.
On the evaluation form, set the Tender Status to Awarded, then select the vendor you wish to award to.
If a bid was submitted in foreign currency, the unit prices in the Evaluation Table will be highlighted in red and the quantity cannot be updated. Click on the green button "Convert" and input the conversion rate ( for e.g. USD to SGD is 1:1.36) and click on save to proceed. Note that there should be no space between the two numbers on both sides of the colon.
The prices will be updated in correct currency and you can then complete the evaluation.
Updating the Conversion Rate on the Manage Deal page
There is another place where currency conversion can be done before even evaluating the bids. When clicking on the Actions button (⋮) select "Manage Deal" to go to the Manage deal page. On the Manage Deal page, scroll down to the Proposals received section and click on "Provide Conversion Rate", then key in the conversion rate.
Updating the Conversion Rate when uploading a Supplier's Bid.
Lastly, you may also be asked to provide a conversion rate when uploading a Supplier's bid, such as for a Non-Sourcing Purchase Request. You will be asked to input the conversion rate immediately after updating the currency type for the bid.
