How Tendering for Work can Change your Business
Looking for tender examples to help you improve your success rate?
A successful tender example has a lot to offer a business. Many businesses tender regularly and have seen first-hand just how beneficial it can be to their growth. Tender VLE is here to provide you with all the knowledge you need. So, in this blog we will talk you through how tendering for work can change your business.
There are often several frequently asked questions regarding tendering. So, let us get the most obvious one out of the way.
What are tenders?
You may have tried to find tender examples to answer this question. To put it simply, a tender is an invitation to bid for a project or accept a formal offer. Tendering usually refers to the process where governments and financial institutions invite bids for large projects. They must be submitted within a deadline. They are ultimately a way of securing contracts.
Are you ready to tender?
Not all businesses and tender examples are the same. So, if you are looking to tender for work, we suggest considering some things first. You should conduct a company analysis so that you can assess your current position. The analysis should consist of:
- The Company’s turnover
- The experience of you and your workforce
- Your business goals and targets
- What do you need to achieve these goals?
Choosing the right tenders
It is important to be sure that you are choosing the right tender opportunities for your business. You should only bid for contracts that you can deliver. This is to ensure you do not waste time or resources.
There are 11 sector-specific tendering portals you can use at Hudson Discover, consisting of:
- Creative Tenders
- Healthcare Tenders
- Facilities Tenders
- Construction Tenders
- Technology Tenders
- Logistics Tenders
- Research Tenders
- Consultancy Tenders
- HR Tenders
- Finance Tenders
- Hospitality Tenders
Many businesses sign a nondisclosure agreement (NDA), so it is difficult to find successful tender examples. However, instead of looking for tender examples from other businesses, you could invest in your own learning. By taking a tender training course, you can learn a great deal about tendering. You can apply your knowledge to a plethora of tenders, not just the one you have seen as an example.
How a tender training course can teach you skills
There are many benefits of taking a tendering course. One of those is how you will learn about the tendering process. You will gain a lot of knowledge from your course to familiarise you with tendering. Therefore, you will know exactly what to expect and you’ll feel confident in handling future contracts.
Learning from the best
A tender training course will be taught to you by experienced bid writers. A lot of suppliers will likely use bid writers. They have a unique skill set tailored to producing successful bids. You will see how they use their writing and communication skills to address the questions. Within the bid they will show how a company’s strengths can serve the contracting authority. Seeing the professional standards of expert bid writers will help you to recognise the higher quality bids. You’ll know which ones to take more seriously from the get-go and how to match/surpass those standards.
You will learn how the different documents involved in tendering work. Tender examples will include pre-qualification questionnaires (PQQs) and invitations to tender (ITT). These help buyers to narrow down the best fit for their contract, and in great detail. You’ll see just how particular the answers to these questions should be. And again, you will learn what is expected of high-quality documents.
Most successful tender examples in training courses will teach your business what is expected of a winning tender. Seeing the quality of work that goes into a successful tender example is a great way of learning. Your business will see exactly what skills and work are required and how the tender will benefit your business.
Another benefit is that you will see the work of expert bid writers. You’ll see how they apply their skills to the tender. You will be able to see the quality of work they produce. As well as what kind of writing skills are required to produce excellent tenders. You may decide to form a department of your business to focus on tendering so you can tender in-house. Having these resources in-house can save you money and be a vital asset to your team.
Save resources & time
One of the greatest benefits of tendering is how much it saves time and resources. If you want to tender in-house, you will most likely have to train your team to conduct the bid work. However, hiring tender consultants and services can get this done without you having to spend time and resources.
By putting your contract goals in the hands of professionals, you are far more likely to see successful contracts. Or, if you take a tender training course, you’ll be set to succeed on your own.
Seeing professional tender examples can teach you how to spot good quality work. The same goes for taking a tendering course. When tendering, you are likely to experience people who know what they are doing. Whether that is bid writers or suppliers etc, you’ll see that they are familiar with the process. And they know exactly what is expected. This means that you will also learn what is expected based on the quality of work you see.
Improving various skills is one of the greatest benefits of tendering for work and tender training. Your business will develop with this wide range of skills that tendering can offer. Tendering requires a lot of organisation skills and being confident in time management. You’ll also enhance your communication and writing skills.
Requiring the services of suppliers? Learning to use KPIs in the tender documents is a great way to establish your goals. This way, suppliers know exactly what you expect. They will be able to decide if they can meet your goals. If you are bidding, this is the easiest way to recognise if you can meet the organisation’s goals.
Why tender for work?
Government’s SME aims
The UK government is eager to award contracts to smaller businesses. So, remember this if you’re a small or medium-sized enterprise (SME) believing only ‘big businesses’ stand a chance.
A less appreciated benefit of tendering is that you will build up your contacts the more successful your bids are. The more contacts you have, the easier you will find more contracts.
Value for money
Another example of how tendering can change your business is how it can provide the best value for money. If you are buying your products from various suppliers, the chances are you are not seeing the biggest purchasing value. The tender process sees purchases from a single supplier and only a few, and they will best fit your needs.
When tendering, you are far more likely to be contracted with an experienced supplier. They will be familiar with the tender process and has lots of experience in providing their services. They are of higher quality, and this ensures value for money. They will be purchasing the right product at the right cost.
Tendering for work also offers the fantastic advantage of guaranteed pay. Suppliers are guaranteed payment when working in the public sector. This is because public organisations are bound by contracts to pay the awarded supplier. Within 60-days of invoicing, the Crown Commercial Service (CCS) must pay contractors. This is so they comply with the Prompt Payment Code (PPC).
There are several benefits of tendering for work, that can have an impact on your business. Whether you are the contracting authority or a supplier bidding for a contract. We hope we have offered some insight into what to expect from tendering.
How we can help you
If you want to know more about the tendering process, then talk to our dedicated team today.
Want to learn more about tendering?
Tender VLE is the UK’s first virtual learning environment, dedicated to bid writing courses. Four of our course levels are still in development but you can start your learning journey at level one now. Our instructors offer five levels of training to accommodate all levels of learning. Tender VLE offers the resources to help you whether you are new to tendering or an expert, looking to improve. We have training that is suitable for various learners including businesses, freelancers or aspiring Bid Writers.
Need help with writing an imminent bid?
Hudson Succeed, which is our sister company, is a global provider of bid writing services. They have over 60 years of collective experience and an 87% success rate. Our team can support you with every step of the tendering process. Our services include:
This 4-week programme is designed for companies that are completely new to the tendering process. One of our highly skilled Bid Writers will work with you to ensure that your business is ready to tender successfully.
Our Tender Improvement programme is designed for companies that have previous experience with tendering but are yet to see results. A member of our knowledgeable team will review your previous responses and aid you to improve them for future bids.
Our Tender Writing service is the whole package. Once we have the required information from you, our Bid Writing Team will do the rest. We’ll take charge of the entire tender for your business, all the way from writing through to submission.
This package is suitable for companies that have already written their own tender response. A member of our team will review your work before the submission deadline, checking for inconsistencies, spelling errors, and grammar. They will also check your responses to ensure they meet the contract’s specifications. Get in touch with a member of our expert Bid Writing Team and watch your business grow.
Upgrade to Discover Elite
Enhance your tendering process with Discover Elite. The package ensures that you can still identify tendering opportunities even when you’re busy. Forget pre-bid admin and time-consuming breakdowns, your Account Manager will take care of this for you. Get in touch for more information.