Tender Management Consultancy- An Overview
In the business industry, dealing and trading of goods and services is a common sight. It requires the companies to prepare a formal offer for the exchange of goods and services with other organizations. This offer is provided in the form of tender. In the competitive business world, various potential projects and services are put out to tender. The process of designing and writing the proposals or tenders, with the competitive pricing, is called tender management, proposal management or bid management. Here the role of tender management consultancy plays a crucial role. In order to have a complete understanding on Tender we need to delve deeper.
What is a Tender?
Tender refers to an offer or an invitation bid for a project. Tender is a process through which the government and any financial institution put forward invitation bids for big projects. The bids need to be submitted within a specified time period.
Meaning of Tendering
Tendering is a process of making an offer, bid or proposal or showing interest in response to an invitation or request for tender. Organizations would want other businesses to respond to a specific requirement and will choose a tender that satisfies their needs and provides value for money.
Tender request documents, also called invitations to tender, request for tender, request for proposal etc. provides as to what is needed. The documents also outline specific requirements, criteria and instructions that must be followed.
The suppliers prepare a tender and documents that outlines the offer that they are making and also include pricing, schedules and state their eligibility for the project. They will specify their advantage over their competitors. Moreover, they need to show how their bid offers best value for money.
Then the tenders so submitted are evaluated. The process should be conducted fairly and should be free from any bias. The offer that meets all the requirements and provides value for money wins the contract.
Utilization of the Tendering Process
The process of tendering is used for procurements or contracts involving huge amounts of money. Tendering is used by the following:
- Government departments, offices and agencies;
- Private sector companies and businesses;
- Overseas markets and businesses.
Government Tendering and Private Sector Tendering
The Indian government with state and local governments, their agencies and departments, purchase goods and services from the private sector and it allows businesses to get a significant opportunity. The government market is a great place to tender for a variety of goods and services. Government tendering involves different types of guidelines and procedures which ensures that the process is completed in an ethical and fair manner.
By assessing government tenders, businesses can gain tremendous amount of work from a reliable organization. It will provide an opportunity to get the ongoing work through building relationships and establishing the business as a trustworthy supplier to government.
Private Sector Tendering
Today various private businesses are seeking to purchase products and services by locating suppliers through the tendering process. The type of products and services that they are seeking are vast and differing hence it provides a great opportunity to various businesses.
The private sector has a flexible tendering process as compared to the government sector. The private sector companies are not required to have such stringent procedures.
The tendering process may be different between the government and private sector, but both of them look for value for money. When evaluating tenders there are certain important factors that are sought after these include- Quality, reliability, efficiency etc.
The following points must be noted in respect of the tender process:
- The process of tender is determined by the organization requesting the tender;
- The request for tender lays down what is needed, and how you should respond;
- The value and business category determines how tenders are invited;
- During evaluation and selection each tender will be scrutinised for compliance. Further, the tenders will be assessed against the criteria as provided under request for tender or invitation documents and the tender's strengths and weaknesses are analysed.
- It is essential that you adhere to the requirements and satisfy all criteria to win the tender.
- Once the evaluation process is completed, a tender will be finalised and notified.
How does Enterslice Help?
In today’s competitive environment, participating in government tenders can never be avoided. However, for various organizations participating in government tenders can be a complex exercise. Hence you can take our assistance in preparing tenders and you can avail of best professional tender management consultancy.
Our professionals can help and advice you that will improve your chances of winning tenders and bids. Our consultants will ensure that you obtain highly attentive and personal service.