A business, however small or big, needs tenders to make money and survive against the odds of competition. However, winning one isn’t a walkover. Businesses, from creating a proposal, providing a quote to completing the paperwork, go through a whole rigmarole for securing one tender and Streamlining Tendering Process.
First, there is a spiraling competition and your rivals are always on the prey to latch on the lucrative opportunities. Secondly, the process is dotted with more roadblocks than you imagine.
Solution for Construction has earned a bankable name for itself in Adelaide for helping scores of businesses to do their constructions right and efficiently. We’re driven by our proven abilities to help you with Planning & Design services, Home Extension & Construction Services, and Renovation Services among lots more. Tendering is also one of our specialties. We strive every bit to break the confusion for you when you’re eyeing a tender and make it easier for you to surpass your competition as an industry pro.
Here’s the guide to Streamlining Trending Process. Let’s dive right in.
STREAMLINING TENDERING PROCESS
Once you’ve found the tender of your interest and gone through the eligibility criteria, it’s time to get straight to the business. Here’s how to get started.
• Create a business profile, which emphasises goals & visions, on several tendering platforms, like ICN SA (Industry Capability Statement) and SA Tenders. It has to be relevant and engaging so that it can attract eyeballs and reach those who are looking for the services you provide.
• Go through the bid documents and read through each line very carefully. Attending information sessions related to tendering can help you know opportunity better by discussing your queries. Also, this will be a great chance to connect with potential contractors, who might participate in a consortium.
• Assess the capability, staffing, and the available resources to check if you’re prepared to handle the job efficiently.
• Estimate costs. See what the total expenditure will be, and how much money you will make out of the given opportunity. Take extra care if you’re placing your bets on a high-value tender because it will need extensive staffing and bulk resources to get complete.
• See if it’s helping you position strongly in the market and providing the competition boost your business needs.
THE MAIN PROCESS
Now that you’re done with the homework, it’s time to test the waters. Here’s how to go about the tendering process.
• One of the first requirements to fill in a tender form is to keep your Business Capability Statement handy.
• A Tender Proposal is the trickiest job out there. It varies from industry to industry, and from project to project. A tender for custom home renovations will differ from one for commercial renovations. So, your proposal must stand out to keep the competition behind. Keep in mind that you’ve to put across the best possible quote.
• Invest thought and planning while preparing your tender proposal. You’ve to answer every question in the form without coming out unconvincing even for once and understand key propositions in the expression of interest document.
• Also, you’ve to be aware of the evaluation criteria of the government agency, whose tender you’re applying for.
• Find out the contracts, and payment terms specified in the expression of interest document. The payment schedule varies widely by agencies and procurement.
• Set tender alerts to prevent yourself from missing out on an important development.
• Find referees who know your business and are ready to vindicate your work and achievements.
• Double-check your proposal before the final submission. See if you have completed all the requirements, and have supported your proposal with requisite documents, duly-signed.
• The tender panel, if you’re bidding on a high-value contract, may ask you for a formal presentation on your proposal. Clarity and Fluency are the keys to success. Be definite about why you should win the contract, and how you’re perfect to handle it efficiently. Rehearse your speech thoroughly.
• All tenders are awarded points. If you score the highest, you win the tender. However, both government and private agencies favor PDI (previously disadvantaged individuals) status.
• All tenders are legally binding. Once a mutual contract is reached, the service provider is required to provide goods/services at the decided price and time-frame. The agency, on the other side, is required to pay for the goods/services at the tendered price, and on time.
• However, if you lose a tender, get a debriefing from the evaluation panel to understand where you’re lacking and how you can improve your tendering process. This can be helpful in boosting your abilities to win the upcoming tenders.
• Have any complaints? Take them up for a discussion with the agency.
ADVANTAGES OF HAVING A GOOD TENDERING PROCEDURE
There is a fierce competition between businesses to win ‘lucrative’ tenders. That said, you must give your best shot to nail the competition with your decisive approach.
A good tendering process can help you go a long way. Here’s a rundown of its benefits.
1. Boosts reputation of a business in the market and industry quarters.
2. Simplifies the fill-in procedure of a tender form.
3. Makes a business save a lot of time and effort by suggesting the right way of filling in the form and getting the desired outcome.
4. Improves chances for a business to win bids.
5. Helps a business understand how government agencies work, what criteria they want a business to meet, what are their expectations and terms of service.
6. Betters chances to participate in consortiums and expand business networking.
7. Hones communication skills and makes you learn the art of conveying a message in the best way possible.
8. Provides consistent improvement, and improves your bidding procedure, tender by tender.
HOW CAN SOLUTION FOR CONSTRUCTION HELP YOU?
Be it commercial, civil or mining projects, Solution for Construction is powered by a rich experience to assist you in every little way it can to secure a tender and do the winning.
Below, we’ve curated everything we aim to do to streamline the tendering process:
1. We help your business to prepare it Business Capability Statement, necessary for bidding.
2. We help you decide the appropriate tenders for your business, according to your capabilities & resources.
3. We help you prepare for the bids, like creating a proposal, preparing the presentation, and more.
4. We estimate the expenditure, profits, and the overall positioning of your business to help you decide your best.
5. We communicate with both government & private agencies to make you aware of their criteria and expectations.
6. We help you gain feedback from agencies if you fail to win the order, and work in tandem to craft a better strategy for upcoming tenders.
7. We ensure that your queries and complaints are heard and resolved.
That’s a wrap! Let us know what you think about our blog posts, and how can we improve your experience with us. Drop a line to us in the comments section below.
Give us a call today at Solution for Construction, and let us help your business!