At Tender Victory, we are experts in the realm of public sector tenders. Our knowledge and experience lie in the evaluation processes that public buyers use and in understanding precisely what those buyers are looking for in a submission. This is what enables us to help craft winning bids. However, when it comes to making a bid/no-bid decision, we remind our clients that they are the experts in their own industries. The decision to bid requires a deeper understanding of a company’s current position, market competition, and strategic goals.
What factors should influence your bid/no-bid decision?
When considering whether to bid for a tender, several key factors come into play. While we can provide support, the final decision rests on a combination of external and internal factors.
- Understanding your competitors: One of the most important factors when deciding to bid is understanding the competitive landscape.
- Evaluating value and scope: Another crucial consideration is the value or scope of the tender. While a tender may seem like a low-value opportunity at first glance, it’s important to consider the broader implications. Could winning this tender open doors to larger opportunities in the future?
- Assessing internal capabilities: Your team knows best whether you have the internal resources and capabilities to deliver on the requirements of a tender. Can you handle the additional workload that winning the tender may bring?
How Tender Victory can support your decision
While we may not make the final decision on whether to bid, our team at Tender Victory can certainly help inform your decision-making process. One of the most valuable services we provide is a thorough evaluation of the tender documentation. This includes identifying potential pitfalls, tricky evaluation criteria, and any aspects of the specification or requirements that might hinder your ability to score highly.
By working together, we can ensure that your decision is an informed one. So, if you’re unsure about whether to bid on a tender, remember that we’re here to help you analyse and assess the opportunity from all angles. However, the ultimate decision – and the future growth of your business – remains firmly in your capable hands.
Contact us if you’re struggling with bid/no-bid decisions and would like our support in interrogating tender opportunities.