Prospect Vendor Registration and Notfications

Our Purchasing department (Public sector organization ) receives calls from interested vendors that are interested in doing business in future.  The department wants to notify these 'prospective'vendors to be registered somewhere in the system and notify them when a bid is initiated related to the products and services the vendors offer. Although the department does not want to register them in our vendor database as they are not approved. Can someone guide which oracle product offers this functioanality.