Tips on How to Win Tenders
From understanding the bid process to evaluating the tenders available, a lot goes in when preparing and formulating a quality bid. Here are some tips on how to submit competitive bids and win more tenders.
- Prepare, prepare, prepare!
The first step of preparation is famiIiarising with the procurement processes commonly used within the industry and tendering bodies. This way, you will gain knowledge of the different processes and what is expected, as well as understand the specific Buyer requirements beforehand. When choosing the right opportunity to bid, it is important to assess whether the opportunity is aligned with the business goals.
- Focus on what the Buyer wants
Always keep the Buyer in mind when writing a proposal. By tailoring your bid to the Buyer’s requirements and clearly stating how you have the right skills and products to fulfil them, you stand a better chance at winning. It is also important to provide relevant examples of work that demonstrate your experience and skill sets. Avoid simply stating on what you can do for them, but rather highlight the benefits and added value of your business.
- The differentiation factor
Spend some time to do research on your competitors and highlight what sets you apart from them. When the Buyer is comparing between bids, it helps to clearly state how your business stands out from the competition.
- Set the right price
Ensure that you can achieve full cost recovery when setting the price, while setting aside a contingency allowance to make room for cost variations. Some expenses you should take note of include travel, transportation, equipment, materials and external support (e.g. legal). Note that for time-based contracts, suppliers are asked to provide a proposed charge rate for members involved.
- Submit a well-written proposal
Finally, submitting a well-answered proposal that is professionally presented and well-formatted is important in creating a favourable impression of your organisation. These include a cover letter, a contents page, a cover page, standardised CVs and testimonials and use of appendices for supporting documents. Ensure all the details provided are accurate and correct, with no spelling errors and check everything is signed correctly before submitting.
Bid Management and Tender Evaluation is a 2-day course that is designed to equip delegates with the necessary understanding, skills, tools and templates to effectively implement world-class tendered procurement strategies. The course also covers the effects of the process on the supplier base and provide insights into the immediate long-term implications to the ongoing supplier relationship management. For more information, please visit us at http://www.opuskinetic.com/training or contact us at info@opuskinetic.com
Opus Kinetic believes that people are why organisations are successful, and giving people the knowledge to perform well at their job is integral for success. We pride ourselves as the premier provider of knowledge, offering acclaimed in-house training, leadership training courses, oil and gas training courses, courses that target health safety and environment, etc. Our training courses are well researched and updated with the latest industry trends. For more information on our professional training programs, you can visit us at http://www.opuskinetic.com/training.