Are you building your tender process? This is great news as tenders are worth 18% of global GDP and represent the largest sales pipeline on earth. But not all tenders are created equal. Some will suit your business better than others and some are easier to win than others too.
This is where qualifying your tender leads comes in
We add up to 10,000 government contracts every day to the TenderScout platform. Among these opportunities are tenders that are just right for you and your business. If you’re like most businesses, you’ll find several contracts that look on the surface to be ideal. So how do you know which ones represent the best chance of success? That’s where a bid/no-bid process comes into play.
What does bid/no-bid mean?
A bid/no-bid process helps you evaluate whether a contract is a good lead for your business. By answering a series of questions, designed to help you consider deeply, the pros and cons of each opportunity, you end up with a clear view as to which opportunity you should compete for.
TenderScouts platform has integrated tools to give you competitive intelligence surrounding each opportunity and standardises data-driven decision making. TenderScout graphically illustrates your areas of strength and weakness, in respect of each opportunity under the following categories.
Is there a range of value of opportunities you would usually compete for? We will show you only those within the range, stating how important price is as an award criterion. Our platform also analyses past information about the buyer and their previous activities to give you an estimated value as an indicator for your own proposal.
Are you tendering internationally or locally? Our platform contains government contracts from across the world, and will notify you only about those you're interested in.
- Subject Matter Match
Are you getting a notifications about tenders that have very little to do with your business services? With TenderScout’s tool, you’ll find analysis of how the tender suits your business based on the keywords you entered when you set up your profile
A number of our clients worry about how transparent the tendering process is. Is there a company that is winning a contract numerous times? We will give you notice about this. The software notifies you about a current incumbent and whether they are allowed to compete for the opportunity again.
- Time to respond
Ensuring you have enough time to prepare the proposal can save you a lot of stress. Our reports will show you how much time you should dedicate to a certain proposal based on the scale of the tender and previous activity. We'll be sending you alerts during the whole process to remind you of the time left until the submission deadline.
- Related buyer activity
The most essential thing you can do when you compete for tenders is build a relationship with the buyer. First impressions you can influence both current and possible opportunities with procurement officers. It's easier to compete for a contract with a buyer you already know!
Qualifying your business
The second part of the qualification process requires you to complete a set of questions asking about your solution, approach and competition. Based on the answers and data from the tender, the bid/no-bid algorithm will generate a final recommendation to compete for a particular tender or not.
SMEs that qualify the tender leads they can compete for see a reduction in their proposal costs and an increase in their win rate. Using competitive intelligence, as TenderScout’s bid/no-bid tool does, provides valuable insights into what it takes to win a government contract.