Every tender is different; however, the approach to winning a tender remains the same. Winning a high-value tender contract is challenging because of the intense competition in the market. Many businesses are trying to participate in tender competitions to achieve significant growth for their brands.
Whether you are attempting normal tendering or e-tendering, you have to put in consistent effort to win the contract.

What is e-tendering?

The word ‘e-tendering’ means ‘electronic procurement of a contract’. When the entire tendering process is digitised, it is known as e-tendering. It is a modern approach to tender procurement, which increases speed and transparency, compared to traditional tender processes.
E-tendering has a few aspects.

Determination of the tender process

Determining how to register for the NSW e-tendering process, the essential documents required to initiate the process, how to approach the suppliers, and which type of tender will be used. Questions such as these will help in the determination of the tender process.

‘Request for tender’ documents and invitation

The documents will contain information regarding the goods and services that need to be procured, terms and conditions of the contract, evaluation criteria, technical specifications, queries and concerns, rules and regulations, as well as the format of the contract. Then, the suppliers will be invited to participate in the online tendering process.

Tender response

Clarify details, consult project contributors, plan the response, draft it, proofread to prevent errors and submit within strict deadlines.

Evaluation

The response is processed electronically, the format is evaluated, deadlines are considered, and the bid is evaluated.

Selection and agreement

The bid, which adheres to all the terms and conditions and ensures promising results will be selected, and the supplier is then requested to sign an agreement to seal the deal.

Benefits of e-tendering

  • Reliable exchange of information
  • Fast
  • Clearer comparison
  • Transparent audit trial
  • Controlled
  • Reduces paper and printing costs
  • Allows amendments

    • Drawbacks of e-tendering

  • Not every individual is equipped with the correct e-tendering software
  • Becoming digital-friendly is more challenging than it seems
  • You may have to invest time and money in learning about the digital portal (seminars and classes)
  • Significantly increased competition
  • May be more costly than traditional tendering because of investment in the latest software, high-speed, stable internet connection and essential equipment.

    • Elements of e-tendering

    Both contractor and supplier favour etendering in NSW despite the potential drawbacks because the benefits outweigh the disadvantages. The two major attractions of e-tendering are the paperless methodology and the quick tendering processes it offers,
    No single formula will win the contract for you; however, we have summarised some essential elements of creating a winning tender response.

    Know the buyer inside-out

    When you are planning to procure a tender contract, it will help if you research the buyer thoroughly. Knowing the objectives of the contractor, why did they reject previous bids, what are they looking for and what will help you stand out from the competition; will ensure success. This information will enable you to establish your boundaries and set a roadmap for your response.

    Adhere to the terms and conditions

    Analysing the tender documents comprehensively will enable you to learn about the terms and conditions of the contract, which is essential to draft a winning bid. If your response does not follow the format set by the contractor or if you fail to address significant requirements, then your bid will be rejected immediately.

    Consult the contributors and draft a bid

    Consulting the project contributors to draft the bid is essential because they will contribute their knowledge and expertise. This will allow you to showcase your organisation’s true skills.. An error-free, persuasive bid is essential to win the contract.. Not every tender writing service follows this approach, so find one which does.
    A high-worth business contract can help your business to grow substantially ; and to grab the opportunities that are in front of you..

    Author's Bio: 

    Caitlyn Bell is an Arts student whose experiences in life make her really tougher than anyone else. She can lend you expert tips on diverse topics ranging from relationship to fashion, making money, health and so on. Her write-ups are a window into her thoughts and knowledge.