What is Tender Management?

To understand tender management, let’s first understand what is a tender. A tender is a submission made by a contractor in response to a request for tender (RFT). Companies in utilities and construction sector or governments may issue a request for tender (RFT), which is a formal and structured invitation to suppliers to submit competitive bids to supply products or services, often within a tight deadline.

Because this is a public and open process, there are laws to govern the process and ensure fair competition among bidders. Without laws, there would be bribery and nepotism. Many institutions have a well-defined tender selection process to ensure the process of vendor selection is fair and transparent. Therefore, writing tenders that are effective and competitive becomes crucial.

What is Tender Management?
The process of designing and writing tenders along with competitive pricing is called tender management. The process of tender management starts when an appropriate invitation to tender (ITT) has been identified. You may require tender management services if you do not have a tender writing staff or are new to tendering and wish to seek expertise in tender writing. Tender management may include :

●    Analysing the requirements in ITT
●    Defining your tendering aims
●    Managing the tender writing staff
●    Writing a unique and competitive proposal that meets requirements
●    Designing a price structure that makes the bid win and maximises profit for the business
●    Minimising risk of the tender
●    Timely submission of the tender
●    Compliance with applicable laws
●    Identifying ways to continuously learn and improve in tender writing

Because a company is competing against many other companies who might have lower prices or better quality products, writing a winning tender or possessing the art of tender management is essential. Do not overlook your need for a tender writing expert or consultancy as this might make you lose your important tender.