Those in the tendering business have to always keep a close eye on each and every tender. They have to sift out important information from the lengthy RFPs. They have to then prepare documents and presentations to make a compelling bid; however, to one’s dismay, not always does this exercise reap good results.

Bidding for one tender is itself a time-consuming and comprehensive exercise. Bidding regularly thus becomes even more taxing and difficult.

Hence, businesses that need to submit tenders on a regular basis should use tender management software for speeding up the entire process. The benefits of professional tendering can be reaped to grow the business and expand its avenues in terms of work.

Benefits of professional tendering:

There are two kinds of tendering software available in the market. First are the ones for businesses/governments to publish tenders and manage applications, pre-bid meetings, bidding process etc.

The Second one is for enterprises that bid for tenders frequently. Submitting a new bid everytime for a new tender is a time consuming process and automating it saves not only time but also valuable resources.

Some of the benefits of professional tendering from both these aspects are hereunder:

QUALITY VIS-A-VIS PRICE

One of the key benefits of professional tendering is the availability of quality goods and services at a pre-decided price. Choosing from a pool of better quality suppliers already gives a competitive advantage.

As procurement through the tendering process provides a catalogue of vendors to compare and choose from, the buyer decides on the quality and the terms of the supply including prices. This makes the contract even more favourable.

In addition to the benefit of quality at competitive prices, tendering ensures a continuous and regular supply line causing no arbitrary abruption to production.

This further builds trust among customers and their satisfaction. If you use a tendering software then you can automate the entire process getting furthermore value for money. 

OPTIMIZATION OF RESOURCES AND EFFICIENT UTILIZATION OF TIME

Using software for bidding management gives more efficient results than allocating the task of preparing bid documents to the employees. This is because it prevents errors and will prevent repetition of work.

For instance, a company profile created once in the tendering software can directly be attached using the software itself without having to do this everytime. Companies, if employ their relatively inexperienced resources in tendering which otherwise are skilled in the company’s core business, would experience a retarded growth.

Companies upon using tendering software will be able to focus on what they already do best, their day-to-day business. As a result, professional tendering can save you not just time but even money. Professional tendering optimizes your resources and produces efficient outcomes.

TRANSPARENCY AND SECURITY

Tendering software safeguards the interests of both parties involved in the contracts. Every clause of the contract is registered in a database. This prevents either of the parties from arbitrarily violating the contract or demanding more than the pre-decided deliverables.

Transparency thus is the most significant of all the benefits of professional tendering. Similarly, eTendering systems provide audit trails. Audit trails are chronological records that serve as evidence of the procedures and activities carried out in the contract.

This further gives better security to suppliers. Audit trails can be used whenever disputes arise concerning the payment of deliverables.

LEGAL COMPLIANCE AND GUARANTEED DELIVERY

eTendering systems allow you to determine the terms and conditions for tenders. This implies that you can decide on what the pricing should be for the deliverables you require. It also includes specifications such as deadlines,

the expertise of team members, domain of the company. This gives complete control to the owner of the project. This ensures the delivery of work to the quality standards of the customer.

The contract legally binds the tender and assures the buyer of the supplier’s compliance with the promised deliverables.

AUTOMATED PROFESSIONAL TENDERING OVER MANUAL TENDERING

While the benefits of professional tendering have been well elaborated upon already, it is even more advantageous if automation is used in the same.

Tendering bid management software eliminates additional human resource costs if opting for the conventional manual tender submission. Automation also simplifies documentation in that it automatically populated pre-bid, bid, proposal, annexures etc for tender submission.

This ensures that you work 80% faster than doing manual tender bidding.

These software also come with pre-designed templates which you can use to create professional looking documents in-house without spending a penny on hiring graphic designers.

The multitudinous benefits of professional tendering pave way for a spurt in the tendering business which is largely disorganized and daunting at the present. Tendering software is the future of businesses.

Outsourcing is already an accepted norm across the globe.

The way outsourcing revolutionized businesses and management in the world, tendering software too will impact the industries in a great way. It will be a crucial determinant in deciding who gets to the top.