With improvement in the government procurement practices, effective methods of contract management by the suppliers are also gaining importance. The perspective for winning a government contract has undergone a paradigm shift from a simple bid proposal to a planned and constructive document that is to be managed effectively.
“The bidding process for government contracts are often rendered to be long, fierce and costly moreover, losing a contract to the competitor is more frustrating for supplier. However, improvising on your capabilities to bid effectively depends on how you correct your wrongs, as there is no instruction manual that guarantees you with winning government tender”.
Working with government organization needs lot of work, it requires that extra efforts to make your business land among those top -notch organizations that are effectively working with government.”
Listed below are few key best practices that might help you improve your chances of winning government contracts next time you decide to bid for a competitive tender.
- Bidding Smartly:
All the tender opportunities that come to your desk are not meant to be tapped. Therefore, one of the good practices that businesses need to follow is to analyses the right opportunities to bid for. Bidding for all the tenders not only lower your chances of winning but also increase your overhead cost and wastage of time and efforts. Hence, it is important to bid for projects that will complement your company’s strengths and assure you with continuous and long-term revenues.
- Prevent Pipelining contract:
Prevent pipelining of contract opportunities. It is advisable to put limitations on contract you add to your system. It is okay to have few contract opportunities as it is easy to monitor few then to loosely handle too many. Therefore, once you add up a contract make sure you eliminate other unwanted contract opportunities.
- Know your Buyer:
One of the most important thing for the supplier is to know his buyer’s profile thoroughly. It is important for the supplier to take the notice of buyers working as well as procurement process. This will give you a competitive edge to demonstrate your product and services in the way that will best benefit the buyer requirement highlighting your selling point.
- Create a Bid document library:
Having a bid library containing information needed to create a bid can help suppliers not only save time but also ensure you provide up-to-date and valuable information in the proposal. The content of the library might differ from supplier to supplier but should contain documents most requested by the buyers and frequently asked questions.
- Look for Teaming:
This is one piece of advice for the small and new contractors to find team mates or strategic alliances with the businesses they share a good compatibility with. Teaming up may reduce your risk, extend your experience and give much deeper insights into the industry. Teaming up has becoming an increasing trend today as, most of the procurement organizations undertake teaming up for larger government contracts.
- Go an extra mile to meet the Compliance:
The suppliers must stay on the top of the compliance requirement within the industry and ensure that they meet every single one. Checking the compliance needs of the buyers is essential to read the RFP properly before preparing for the bid. Add some a little extra valuable information other than required information to make your proposal stand out in the competition.
- Gain industry recognized accreditations:
One of the most important thing buyer looks for is any accreditations that the suppliers hold in the industry. This can be both country specific or globally. Having such extra qualifications can give supplier a competitive edge over other bidders and might increase your chances of winning tenders.
- Perform constructive Reviews:
This is one of the best practices followed by the successful procurement organization is to formulate constructive reviews of their proposals. It is advisable to have a team of executives and subject matter experts that will look at the proposals with the fresh eyes and invariably put in efforts to conclude the proposal with constructive recommendations accompanied with every problem.
The above mentioned are some of the key elements that the suppliers need to improve his chances of winning the contracts. Therefore, to get started it is important to figure out your areas of strengths and expertise and upgrade it from time to time to increase your chances of winning contracts.
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