Whether or not you are aware of the procurement process, there are many advantages to using a professional bid management company.
The process of procurement involves three stages: the publishing of a contract notice outlining the service, a pre-qualification questionnaire (PQQ) and an invitation to tender (ITT). Many companies already search for contract notices in order to find work, but it is surprising to find some long established businesses who are unaware of the process.
Any contract worth over £200,000 has, by law, to go through the procurement process. Contract notices are then placed on procurement portals such as tenders electronic daily (TED) where businesses can find out how to express their interest. Once a company has registered their interest they are then sent a PQQ to complete. The PQQs vary greatly and the scope of the document rarely reflects the contract value. Just because the contract price is fairly low, this does not mean that the document will be simple.
Many companies fail at the PQQ stage by simply underestimating the time and effort required to complete the document. At Executive Compass® we have completed hundreds of PQQs and tenders and are experts at writing them. We have regulated internal training processes ensuring our writers maintain a constant high level of quality in their work, backed up by our ISO 9001:2008 quality management accreditation.
Working with a bid management company allows you to focus on the running of your business instead of dedicating time and resources to completing documents that you may not have a chance with. We are honest with all of our clients and advise them on whether or not they are bid ready and have a chance of winning.
Once you have completed a PQQ the next stage is the ITT. Winning this stage secures the contract. Occasionally, after outsourcing their bid management for the PQQ, a company may feel they can complete the tender by themselves. It is important to note that both documents, although they may seem similar, must be approached in different ways. The ITT requires much more information and detail throughout and the time and thought needed to complete it should not be underestimated.
Working with a bid management company gives you full confidence that what you are submitting is the best possible reflection of your company, along with an understanding that you are fully compliant and actually have a chance of winning.
If you would like to find out more information and discuss how Executive Compass® can help you, call us today on 0800 612 5563