Top 3 Tips on How to Prepare for the Procurement and Tender Games
Tendering is a tough industry to be in, especially if you are competing against larger organizations. When you are a small or medium-sized business (SME), you need to make sure that you stand out from the crowd. The best way to do this is by girding up your loins. In other words, spare no effort for your preparation plan. This article will thereby provide you with 3 fundamental tips on how to beat the tender games.
1. Always be ahead of the competition
That is, be abreast with the ins and outs of your niche market. Find all the tender notices relevant to your industry at the right time, and make sure you stay current on how best to find and win public or private contracts. One way you can actually do this is by applying to an online tender platform.
Online tender platforms or tender portals provide tools and services you can leverage to win more business. Mainly, they are sources that identify all business opportunities and upcoming projects in the public market.
Practically, when you subscribe to a tender portal, you’ll have at your disposal a complete package of detailed information on the public sector. All the more, you’ll get to receive the information about tender notices in real time through an app notification service and email alerts.
This way, with some clever effort, you can stay updated to all the industry news and make your moves at the right time.
2. Acquire knowledge at second-hand
Before you embark on a certain tender, there are some questions to ask yourself. Essentially, without proper market preparation, and especially if you were tendering for the first time, you’ll find yourself at a loss of time and effort.
Therefore, to answer questions like; Do I have a realistic chance of winning the contract? Does the tender align with my business strategy? Do I have industry relevant accreditations and qualifications? You may want to acquire some second-hand experience.
Read through the tender archives relevant to your field. Search for and examine recent projects, how they went, what were the requirements, criteria,and technical specifications. Then see if your business is qualified enough for the process.
To easily and effectively address this step, rely on tender portals. In the archives, you’ll find a comprehensive pack of calls or requests for tenders, architect competitions and their respective results, notices of unsuccessfulness, and contract awards.
3. Understand the legal and regulatory framework of the tender process
Public sector markets are subject to several constraints that are imposed on all agents taking part in the public tender process.
These constraints are motivated by the principles of protection of the general interests of the public in service and guarantee the efficiency of the public tender process and the valid use of funds or public monies. This process is based on the combination of three principles:
- free access to the public tender process.
- Equal treatment of applicants.
- Transparency of procedures.
The procurement process has a code, obviously. There are legal rules that govern the stream of events from the request for tender up to the contract award.
That being so, you’ll have to attain an understanding of all the scopes of the legal framework of the game before you sign up for it.
The tender and procurement portals also dedicate a legal advisor whose job is to accompany you throughout your participation. They’ll make sure your tender documents and all your moves conform to the code of the public market.
The ability to win business opportunities is crucial for any company or entrepreneur. If you’re an established business (or just starting out) you’ll know that winning new business is necessary to grow and succeed. Above are some ways to win business opportunities and tenders that can help your company take off.