How to Improve Your Chances of Winning a Tender
Developing a tender for any kind of opportunity can be a lot of hard work and effort. Ideally, it would be good to know the exact set of steps you should follow to ensure your hard work pays off. Whilst there is no set formula for being successful with a tender, there are a number of key actions you can undertake to give yourself the best chance of winning. These are:
Research the Opportunity
Find out as much as possible about the contract and the organisation you will be working with should you win the tender. Ideally, you will already have a relationship with them or your business will be known to them in some way. Doing as much research as you can before you compile your tender response will help the competitiveness of your bid.
Carefully Read the Documents
All the information about the tender opportunity including what the tendering organisation is requesting, the processes you need to follow, the contractual requirements, what you need to submit, what the deadline for the submission is, and even, what you can’t do – is included in the tender documents. There is often more than one document and they generally comprise the following:
- Conditions of Tender
- Statement of Requirements
- Tender Response Form
- Deed of Agreement
It is very important to read these documents carefully to know precisely what is required in your tender response. As you read the documents, make a note of anything you don’t understand or need clarification on. There is always a contact person or email address included in the tender documents (most probably in the Conditions of Tender) for you to direct questions to. For some tenders, briefings are also held (please see below) where attendees can ask questions.
Attend the Briefing
Sometimes a briefing is offered as part of the tender procurement process. In these instances, the tendering organisation holds a meeting and invites attendance from anyone interested in submitting a tender response for the contract. During the meeting, representatives from the tendering organisation explain the documents, the procurement process that will be used for the tender and, depending on the opportunity, will take questions from tenderers.
These briefings can be mandatory or optional for tenderers to attend. If there is a briefing, it is generally a good idea to go. Not only does the briefing give you a chance to get acquainted with the documents, you can also see who is interested in the opportunity and to possibly ask or hear questions about it. All of this information can help you in working out your offer.
Be Clear About Your Offer
Your tender response is essentially a selling document which details what your business is offering for the contract, including your price. Your response is going to be evaluated against other tender responses during the tender evaluation process. Given the process is competitive, it is important to be very clear about what your business is offering to win the contract. When developing your response, you should keep in the mind the following question: Why should the tendering organisation award the contract to you? It is essential you communicate in your tender response what you can uniquely provide and how it is different from other businesses.
Develop a Project Plan
To ensure you develop a response that meets all the tender requirements and is lodged on time, it is advisable to develop a project plan. When developing your plan, make sure you list out all the specific requirements for the tender and work out who in your business will be responsible for providing these and when, before the lodgement deadline. Furthermore, always give yourself plenty of time to write the response as the writing process can take longer than expected.
Make Sure Your Response is Compliant
Tenders are a lot like exams. You should answer every question to get the best mark. If a tender asks for a specific document or piece of information, then you should definitely provide it. If you don’t do this, you run the risk of submitting an in-compliant bid which may not be evaluated.
Review Your Tender Before You Submit
Reviewing your tender response before it is lodged can be very valuable. This means developing a final draft before the deadline and reading it to ensure it accurately conveys your offer, is easy to understand and is free of errors, including spelling mistakes. If you can, get someone in your team or business who has not been part of the tender writing process to read and review the tender. Someone with a fresh set of eyes is more likely to pick up any problems with the tender. Fixing these problems will ensure you are submitting the best response possible and will increase your chances of success.
All these steps take time to complete, so to give yourself the best chance you will want to know of an opportunity as early as possible. With Tenders.Net’s tender notifications you get notified of opportunities as soon as the information becomes available, giving you the best chance to succeed. That’s why Tenders.Net is trusted by Australia’s largest companies, down to the smallest. For more information register here or contact us at email@example.com.