The Real Importance Of Tender Management

The management of tenders is a very important aspect of the bids and tender processes as it allows a business to trim their processes and eventually secure more important bid opportunities. There are various ways with which tendering can be managed. Having the right tender management systems and procedures help maximise the win rates which is crucial when a business deals with lots of bids and tenders or high value, strategic, total-win opportunities. By having some form of tender management means that the whole tendering process would be overseen, and current/new tenders shall be effectively managed and tracked.

To have your tendering process specifically managed means not only will the current tenders be monitored, but also the process of finding new tenders and contracts that would be appropriate for your company to bid on is much easier now. This grants your team more time to focus on lengthy and important bid writing and responding to tender documents.

One of the most common reasons that businesses lose their tenders is due to the mismanagement of opportunity, hence not investing enough time into preparing a response, or spending too much time on a tender in which they had little chance of securing. This impacts other prospects and potentially leads to missing deadlines. If you often deal with bids and tenders, you will most likely have to deal with the following:

• Requirement to either write each tender response from scratch, or browse through previous responses to find an appropriate base template that can be utilised to support a new tender.
• Need for a team of people working on many different elements of a tender, from searching for opportunities, to gathering necessary information and writing, reviewing and submitting the bid.
• You are working on multiple tenders, therefore have a large amount of tender documents and files to manage and most importantly, differing deadlines.
• The need to factor in time to review the lost tenders and understand the feedback that is given (if this was provided). Take adequate time to better understand what elements of the bid were successful and what needs improving.
• Managing which tenders are a priority and to keep track of their progress in line with the submission date and to put pressure on the right team members to meet the deadlines.

Each of the above mentioned elements are important for the tender process and are difficult to maintain without proper tender management. This is where having a comprehensive and unique system in place can support your business, monitor deadlines and team members and easily house all necessary files. 

TendersOnTime is a Global Tenders provider that gives you the leverage to choose from a variety of tenders online. Get in touch with us today if you have any questions about tender management and the systems that we offer, and see how we can help to streamline your tender management processes.