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Tendering for contracts is a complex and time-consuming process. Compounded by competing expert priorities, manual effort, and tight deadlines.
To streamline your chances of success, consider investing in bid management software. This powerful tool automates many of your bid activities, saving significant time for more bids with your same staff.
This blog delivers the experienced insights you need to explore your options and select the best software for your business.
Bid Management Challenges
Tenders offer your business a valuable opportunity to win new contracts and grow. So, responding quickly and accurately is an important part of your growth strategy.
However, despite the benefits of tendering, you still face challenges. Do these sound familiar?
- Invite to Bid Complexity: Multiple files, hundreds of pages and vague requirements make tenders time-consuming to read and understand.
- Time Constraints: Strict deadlines, tight turnarounds and only so much time in the day means limited time to write and respond.
- Limited Resources: Experts have competing priorities and conflicting schedules, making it difficult to secure enough time to hit deadlines.
- Competition: Competition is fierce, and you must stand out, engage and compel, as well as deliver on time.
- Change: Tender amendments can happen at any time throughout the process. Without a centralized process, rapid adaptability remains a challenge.
- Security: Tenders can involve sensitive information, making email not the best method for communicating with your team.
Bid Management Software Benefits
The tender process offers your business valuable opportunities to secure new contracts and grow.
Whether you’re responding to ten or a hundred tenders a month, bid management software makes it easier and faster. By leveraging its intuitive capabilities, you save time, reduce costs and improve your chances of success.
- Increased Efficiency: Automates repetitive tasks such as data entry, process hand-offs, document compilation and formatting.
- Improved Accuracy: Reduces human errors and inconsistencies that sour evaluation and risk disqualification.
- Expert Collaboration: Facilitates team collaboration and communication that drives knowledge sharing for accurate, relevant, and compelling responses.
- Competitive Advantage: Reclaims significant time to invest in the high-quality content today’s buyers demand for awards.
What’s the Best Bid Solution for Your Business?
There are a lot of bid management system options out there. Some are for storing, organization, and managing your documents. Others are built for repurposing content on recurring tenders.
Then there is bid, or proposal, management software, built specifically for large, complex tender proposals. Where the first two fall short, this comprehensive software is a game-changer.
By carefully considering these factors, you can select the best software to support your business goals.
- Complexity: Your bids require large documents, extensive document sets, document and cross-functional team collaboration. Look for software that manages document parsing and compilation, as well as version control, for you.
- Volume: Your bid volume is increasing, from a few a month to hundreds a year. You want to bid more without sacrificing quality, accuracy and compliance. Look for software that automates repetitive, manual tasks, such as hand-offs and formatting.
- Team: You have an extensive team of experts with competing priorities, all working from different locations at different times. Look for software that focuses collaboration around the document, including document-based discussions.
- Ease of Use: You want to onboard and start taking advantage of improvements rapidly, without constant re-training. Look for intuitive interfaces and visibility into reviews, progress and status, backed by an experienced training and support team.
- Scalability: You want software that can fill other document collaboration gaps across your business. Look for software that is easily leveraged to accelerate other processes, such as reporting and branded, client-facing deliverables.
- Security: You want to protect sensitive information without having to log into another platform. Look for a software backed by enterprise-level security and granular permissions that control who can read, review and approve.
Reclaim Your Bid Writing Time
If you’re spending your time chasing experts and content, and still scrambling at the last minute, then bid management software is for you. This management solution will reclaim significant time - time better spent on strategic activities such as improving proposal quality and submitting more bids.
Consider this:
- Centralized Platform: Keep your team in sync, and eliminate confusion, with a single source of truth from kick-off to contract.
- Real-time Collaboration: Help your experts connect and collaborate with co-authoring and in-document discussions that accelerate writing.
- Automated Workflow: Take the guesswork out of who’s writing and where comments apply with seamless hand-offs that speed up approvals.
- Progress Visibility: Head-off bottlenecks before they become delays. Know when to step in and reallocate resources or shift schedules.
- Enforced Layouts: Stop reformatting. Automate and enforce your layout and formatting throughout development, even when experts "copy and paste," and always be review and submission-read.
- AI-Powered Content Library: Stop searching. Find that information or relevant detail you need to fill the blank page or strengthen your argument fast.
- Enterprise Security: Protect your sensitive information from malicious actors with enterprise-level security and granular permissions. Control access by project, document and section without reaching out to IT.
Could You Use a 53% Increase in Win Rate?
Tired of watching lucrative tenders slip through your fingers? While you juggle manual tasks and chase expert deliverables?
XaitPorter takes the manual work out of your day, and helps your experts collaborate and deliver on deadline. Don’t take our word for it. Hear how just one client has increased their win rate, now reaching 53% for the Bidding Department, with Xait.
“We are very satisfied because our clients notice an ease of reading in our deliverables. They observe greater clarity in the presentations of our human and material resources, a better transcription of our methodology, as well as a deep understanding of their challenges,” - Guillaume BOUAZIZ, Sales Director, SOCOTEC
Competition is fierce and you want to win and grow. You know you can’t do that with a status quo process, one fraught with repetitive, manual effort and disconnects. Investing in bid management software now might just be the answer. By streamlining the bidding process, and reclaiming significant time, XaitPorter helps you unlock those lucrative contracts.
