hero-image

Blog

Why all businesses should bid on tenders

June 15, 2021

Blog

Why all businesses should bid on tenders

June 15, 2021

hero-image

Onderwerp: Gids

Niveau: Beginner

4 minuten leestijd

Tendering may sound like a game created for the “big dogs” of major industries––but it is far from it. Tendering as a practice is suitable for organizations of all sizes; it spans across all noteworthy industries and allows a single company to reap large benefits. Don’t let the big fish intimidate you; small fish in big ponds can succeed too!

So, what are the benefits of tendering? For starters: money. Simple? Maybe––but it sure is convincing. Tendering is a great source of income for a business. So much so that some companies use it as their sole means of business at times. While it may seem daunting, and maybe even off-limits at times, every business should at least give tendering a go.

There may be a steep learning curve to begin with, as a lot of information needs to be taken in at first (e.g. tendering legislation, acronyms, processes). However, once you get the ball rolling, tendering can be vital to the success and growth of your business! So let’s take a deeper look into the benefits of tendering.

The need for your product is set

When responding to relevant tenders, the need and budget for your type of product are already established by the contracting authority. This means that you, as a company, don’t have to bend over backward trying to explain the benefits of the product itself. You instead have to convince the issuing party that investing in your product is the best way to go and that you are the best fit for their request.

At Altura, you can often anticipate upcoming tenders and tenders relevant to your industry. By allowing users to view past, current, and recurring tenders, tenderers can remain vigilant and prepare ahead. Tenders can be bookmarked and shared with relevant bid teams.

The project’s timeline is clear

The tender usually outlines precisely when the project is to start and when its due date is. While it may not always run exactly as planned, an overall indication of the general timeline is visible. This can be very helpful, as clients tend to be more prepared and eager to stick to this plan––unlike other B2B projects whose timelines tend to be more uncertain.

Provides insight into what public and private entities are looking for

One of the many benefits of tendering is the sneaky insight it gives you into what public and private bodies are interesting in buying. This helps you as a business better understand which of your offered products and/or services are in demand, and how you can better align yourself to offer value within this product and/or service.

Want to know what tenders are currently up for grabs? Altura allows you to view all European public and private sector tenders currently available. With tendering documents easily reviewable, searchable, and downloadable, Altura enables its users to cherry-pick and select the most important information.

Improves your company’s credibility

Tendering is a great way to make sure your company stands out. By winning a contract from any type of organization, national recognition can be gained after a single completed contract! To even be nominated for an award can serve your business, as it acts as a third-party endorsement. This may, in turn, create a self-reinforcing cycle, as listing awards on tenders is a show of competency — and may, in turn, generate more wins!

Continued business opportunities

Most government contracts can be extended from 2 to 5 years or more. This ensures both revenues for a certain period of time, as well as long-term stability for your business. This, in turn, lowers the stress of having to worry about future projects and their profitability.

A fair business transaction

When it comes to tendering, there is no favoritism or no nepotism––just merit. This is because suitable tenders are assessed and selected based on certain, specified criteria. This fact can help you analyze your tender proposals in a more efficient way, giving you the opportunity to know what to improve on. To polish up future proposals, inspect your proposal and see what needs improvement, and assess whether you’re responding to projects and work opportunities that suit your business offerings.

Get to know your competition

Analyzing your competition is key to (most) tendering processes, and tendering allows you to know what your competitors are all about. Their strengths and weaknesses will show you what you’re up against. This shows you what you’d need to improve to increase your chances of winning a bid. This may also help stimulate innovation and novel ideas within your business, which is nothing short of beneficial for your company.

Altura’s tendering platform enables its users to see who their competition for a tender is. This is based on previous (similar) tenders won. Moreover, Altura has dedicated profile pages for each competitor.

Tendering is now easier than ever before

Thanks to the rise (and relentless adoption) of e-Tendering, tendering is easier than ever before. This is because of: the reduction in costs on multiple levels, including paper trail, takeoff costs, and cost of participation; improved quality (on things such as real-time updating, and detailed purchase history); and increased efficiency.

All in all, the point we’re trying to make is that there is no easier time to start tendering than now. The benefits of tendering outweigh its costs in both the short- and long-term, with the possibility of winning tenders increasing the more experience one has. So, what are you waiting for? The realm of tendering is waiting for you with open arms (and wallets!).

Tendering may sound like a game created for the “big dogs” of major industries––but it is far from it. Tendering as a practice is suitable for organizations of all sizes; it spans across all noteworthy industries and allows a single company to reap large benefits. Don’t let the big fish intimidate you; small fish in big ponds can succeed too!

So, what are the benefits of tendering? For starters: money. Simple? Maybe––but it sure is convincing. Tendering is a great source of income for a business. So much so that some companies use it as their sole means of business at times. While it may seem daunting, and maybe even off-limits at times, every business should at least give tendering a go.

There may be a steep learning curve to begin with, as a lot of information needs to be taken in at first (e.g. tendering legislation, acronyms, processes). However, once you get the ball rolling, tendering can be vital to the success and growth of your business! So let’s take a deeper look into the benefits of tendering.

The need for your product is set

When responding to relevant tenders, the need and budget for your type of product are already established by the contracting authority. This means that you, as a company, don’t have to bend over backward trying to explain the benefits of the product itself. You instead have to convince the issuing party that investing in your product is the best way to go and that you are the best fit for their request.

At Altura, you can often anticipate upcoming tenders and tenders relevant to your industry. By allowing users to view past, current, and recurring tenders, tenderers can remain vigilant and prepare ahead. Tenders can be bookmarked and shared with relevant bid teams.

The project’s timeline is clear

The tender usually outlines precisely when the project is to start and when its due date is. While it may not always run exactly as planned, an overall indication of the general timeline is visible. This can be very helpful, as clients tend to be more prepared and eager to stick to this plan––unlike other B2B projects whose timelines tend to be more uncertain.

Provides insight into what public and private entities are looking for

One of the many benefits of tendering is the sneaky insight it gives you into what public and private bodies are interesting in buying. This helps you as a business better understand which of your offered products and/or services are in demand, and how you can better align yourself to offer value within this product and/or service.

Want to know what tenders are currently up for grabs? Altura allows you to view all European public and private sector tenders currently available. With tendering documents easily reviewable, searchable, and downloadable, Altura enables its users to cherry-pick and select the most important information.

Improves your company’s credibility

Tendering is a great way to make sure your company stands out. By winning a contract from any type of organization, national recognition can be gained after a single completed contract! To even be nominated for an award can serve your business, as it acts as a third-party endorsement. This may, in turn, create a self-reinforcing cycle, as listing awards on tenders is a show of competency — and may, in turn, generate more wins!

Continued business opportunities

Most government contracts can be extended from 2 to 5 years or more. This ensures both revenues for a certain period of time, as well as long-term stability for your business. This, in turn, lowers the stress of having to worry about future projects and their profitability.

A fair business transaction

When it comes to tendering, there is no favoritism or no nepotism––just merit. This is because suitable tenders are assessed and selected based on certain, specified criteria. This fact can help you analyze your tender proposals in a more efficient way, giving you the opportunity to know what to improve on. To polish up future proposals, inspect your proposal and see what needs improvement, and assess whether you’re responding to projects and work opportunities that suit your business offerings.

Get to know your competition

Analyzing your competition is key to (most) tendering processes, and tendering allows you to know what your competitors are all about. Their strengths and weaknesses will show you what you’re up against. This shows you what you’d need to improve to increase your chances of winning a bid. This may also help stimulate innovation and novel ideas within your business, which is nothing short of beneficial for your company.

Altura’s tendering platform enables its users to see who their competition for a tender is. This is based on previous (similar) tenders won. Moreover, Altura has dedicated profile pages for each competitor.

Tendering is now easier than ever before

Thanks to the rise (and relentless adoption) of e-Tendering, tendering is easier than ever before. This is because of: the reduction in costs on multiple levels, including paper trail, takeoff costs, and cost of participation; improved quality (on things such as real-time updating, and detailed purchase history); and increased efficiency.

All in all, the point we’re trying to make is that there is no easier time to start tendering than now. The benefits of tendering outweigh its costs in both the short- and long-term, with the possibility of winning tenders increasing the more experience one has. So, what are you waiting for? The realm of tendering is waiting for you with open arms (and wallets!).

Vergelijkbare blog's