Bidding for a contract for the first time can be a daunting process for any company. When working with an organisation that is new to the process we often discover basic mistakes that could have been avoided.
This blog aims to provide information to make the process easier for first-time bidders. We will look at everything from finding a relevant contract, to submitting and reviewing the final tender.
Identifying a contract
The first step of the bidding process is identifying a suitable contract. For many companies this is where the first mistake occurs.
It is important to ensure that you meet all the criteria to submit a bid for the contract. This can include:
- Minimum turnover requirements
- Number of years trading
- Previous contract experience
If your company does not meet the bid requirements then submitting a bid is a waste of both time and resources.
Completing the PQQ
Once you have chosen a relevant contract to bid for you must express interest. Following this the contracting authority will provide you with the pre-qualification questionnaire (PQQ). This document is the first stage of the bid.
The purpose of this document is to narrow down the field by excluding those that do not comply. With that in mind it is important that you take the time to ensure a fully compliant submission.
You must also work to impress the contracting authority and highlight why your company is the best for the job.
Completing the tender
Should you be successful at PQQ stage you will be invited to tender (ITT). This provides assurances that your company complies, but there is still a lot of work to be done in order to secure the contract.
The tender goes into much more detail and responses must be of the highest quality. Back up all statements with evidence and past experience where possible. You must show that your company is better than the competition.
One way to establish this is added value – what can you provide that no one else can? Determine this and you are well on your way to winning.
Analysis and bid ready
The final stage of the process is analysis and bid ready. Regardless of the result you should always conduct a thorough analysis of the bid. Which sections scored highly and which did not?
The key to improving your success rate and consistency is creating a library of winning responses, which are updated with every submission. Conduct a thorough gap analysis to see exactly what is needed to be ready to bid for contracts. This will also enable you to establish a structure that allows the progression to larger bids and company expansion.
For more information on bidding for contracts contact us today.