A Short Guide to Bid Management

by Marta Jordan Writer

A major part of the tender process, bid management allows businesses to navigate the difficult world of bidding for contracts in a more streamlined way. Many large and medium sized corporations have a dedicated department or team members responsible for finding and winning new contracts, and working on several tenders simultaneously can open you up to making errors. Here is a quick guide to streamline your bid management process to help you keep on top of your tenders.

What is bid management?

Many companies depend upon winning tenders to get new work and clients and expand their business. It is easy to lose track of documents and files when working on and trying to meet deadlines of many different tenders. A bid management process allows you to organise the different steps of the tender process, from finding the right tender to bid for, analysing your suitability for the project, sourcing the necessary licenses and permits through to actually writing the proposal, editing and proofreading it and getting it approved by the relevant authorities prior to submission. It also means that different teams are more efficiently able to communicate with each other and eliminates chances of mistakes and errors.

Who needs bid management?

If your company is missing out on opportunities and only finding out about them when it’s too late, unable to find the right opportunity, finding it hard to meet deadlines, meeting deadlines but still losing bids or is finding that it is spending far too much time on its tender writing processes without much success, a bid management system may be for you.

The right bid management system will ensure you have the right resources to find the tender best suited to your company’s unique abilities, keeping in mind your budgets, location, the sector you work in and your workforce. When you know how and where to find the right tenders, not only does your company have a higher chance of finding a winning tender, you are also spending less time bidding on unrealistic tenders.

This resource could be a person dedicated to analysing all possible open tenders and seeing what works best for your business, or it could be an automated system that will send out a notification every time a request for tender that meets your capabilities is released. You will then have the opportunity to dig deeper and discover if you truly have the resources to get the job done.

What can professional bid management companies do for you?

Take the pressure off your back and invest in a professional bid management company to take care of winning new projects for you. These experts have been in the business for years and have dedicated their entire careers to matching the right tender opportunities to the right individuals or companies and helping them win it.

With entire teams dedicated to each step of the process, from finding new opportunities to researching and gathering all the necessary data, through to writing the bid proposal and finally to editing and proofreading it, they’ll get it all done while you focus on what you do best: run your business.