A formal offer to complete a specified job for a predetermined fixed price is known as a tender. Tenders are often submitted in response to a request for bids known as an invitation to tender (ITT). Organizations will need to provide proof that they satisfy the specific eligibility requirements stated in the tender document. Usually, there will be more than one company willing to complete the job described in the invitation to tender and the competition for winning the contract will be tough. That’s why it is critical to create and submit a quality tender application. In this article, we’ll take a look at the steps needed to take to put together a winning bid.
Explaining the tender application process
Each tender application process has its own features based on the scope of the contract and the way the buyer wishes to assess the bidder. The tender document will feature all the information required for submission along with the deadline.
The tender document
Issued by the buying authority, the tender document features more detailed information about the buyer’s requirements and expectations than is feasible in a contract notice. The selection and award criteria that the buyer will use when evaluating each bidder’s tender submission are likely to be detailed in a tender document.
Along with the ITT, the buyer will also provide contractual terms and conditions and look for the participants to indicate their assent to these at the time of submission. It is important to understand that the lowest price is not the only criterion that is assessed. Previous experience, proof of similar tasks within a portfolio, and the narrative section are also among the sections that will be examined by the buyers.
Tenders cannot be negotiated after their submission. The bidder will be required by law to complete the work specified in the tender document and at the cost stated within it.
See also: How do you win a tender: 8 useful tips
How to submit a bid for a public contract
The public bidding process, which is the same as described above but involves public funds, is very regimented, and thus understanding the procedures involved is crucial for those looking for procurement possibilities. There are certain stages that a successful public bid should follow:
1️⃣ Find a relevant opportunity
- Define the scope of your activity and the possibilities you aim to bid for
- Follow the news in the public sector
- Learn the language and terminology used in the public sector
- Register for alerts anytime suitable offers are published
Public tenders can be discovered using different sources including tender portals, tender alert services, official databases, and government tender portals.
2️⃣ Ensure you can fulfill the conditions of the tender
The next step involves careful examination of the tender requirements and ensuring the organization has the ability to meet these.
Consider the following questions:
- Does my company have enough time and resources to bid?
- Does my company possess the necessary technical expertise and experience?
- Does the task align with my organization’s vision and strategy?
3️⃣ Signal to the buyer you are interested
Ask the buying authority for the complete documentation or, if it is available online, download it.
4️⃣ Selection Questionnaire/Pre-qualification
To gather more data that may help with the selection procedure, the buyer will provide a Selection Questionnaire. For certain specific donors, this stage is called Pre-qualification.
5️⃣ Invitation to tender
After receiving the completed and submitted Selection Questionnaire, the buying authority will assess this. If the company meets the minimal thresholds set by the buyer, it will receive an Invitation to Tender which is an official request for a supplier to submit a comprehensive tender response and thus participate in the tender exercise.
6️⃣ Tender response submission
To guarantee that the proposal is the best it can be, it is important that your organization invests the necessary time and resources to create a high-quality bid.
See also: What should a fair and effective tender process be like?
Five tips for a good tender application
If you want to succeed, you must first be aware of the rules of the game and then use a thoughtful and methodical approach to preparing a strong tender. Here are five short tips for a successful tender application:
1️⃣ Be prepared and get started early
You must invest time and money into each bid you submit. Obtaining a copy of the tender materials at the earliest opportunity can help you make the most of your time.
2️⃣ Analyze and understand what is required
You must thoroughly analyze the tender papers and abide by the contract terms and conditions. Attend whatever pre-tender briefings you can and have your questions ready. Whenever you need help, ask for clarification.
3️⃣ Examine the assessment criteria and make appropriate plans
Review the standards by which your tender submission will be judged. Create a strategy for responding to tenders that should cover the resources needed to get your bid ready as well as to fulfill the contract in case of a win. Studying your competitors can also be part of your strategy.
4️⃣ Verify your tender submission
Ensure your tender features all the requirements and specifications for the products and/or services to be provided and make sure you can deliver these.
5️⃣ Verify the tender’s location and deadline
Tenders submitted after the deadline are not accepted. It is your responsibility to deliver your tender materials to the proper location by the deadline.
To guarantee that the tender submission is completed to a high degree, anyone submitting a bid needs to be knowledgeable about the bidding process and possess great writing skills.
For those in need of a perfect tool for efficiently organizing, tracking, and managing tender data – the Tenderwell app was developed. It optimizes how you deal with leads, candidates, or proposals and makes it easier for you to communicate with partners and applicants. The GDPR and other international data protection laws have been taken into consideration when designing the Tenderwell App.
