It was recently reported by European Union News that e-procurement and online tenders are a step closer to having a common standard.  

Tenders online have become big business in recent years, with more businesses choosing to look to generate leads and create opportunities using the internet. Therefore, it is good news to hear that the a new common standard will increase the efficiency of tendering online, and even the playing field of EU-wide public sector competition. 

The idea of the common standard aims to increase transparency in the public sector enabling more companies to get involved with tenders across the EU, with the whole project linked to improving market efficiency within the EU market. 

As reported, the project is budgeted for Euro 30.8 million and the pilot is due to be completed by the end of 2010.

With various economic fluctuations and the fact that budgets across the EU will see a cut in 2010, it is good news that there are plans that will see smaller businesses encouraged to aim higher and for regulations to be set to govern how business is conducted europe-wide.