Making a smart bid plays a crucial role in ensuring steady growth of an organization. As Bid Managers seek to bring more business into the organization there goes a lot of effort and team coordination to make sure that you get the contract award. From bid scheduling to approvals the bid process requires a lot of planning to make sure everyone is on the same page. Bid Management Software can keep you away from mundane activities and help you focus on the important ones.
An optimum combination of cost is a deciding factor in determining the chance of your win. As pricing discussion require inputs from multiple departments it is important to maintain the data and take into account each information before deciding on a price. Price Bid facilitates synchronization between different departments like Legal, Accounts, Management to make sure that everyone is aware of the inputs and then decide upon a price.
As a bid manager, it is important to keep track of the status of every bid and all the communication relating to it. It is imperative to come up with a quality proposal that gives you a competitive edge while keeping up with the approaching deadlines. Prompt communication and coordination are crucial to make sure you give quality results well on time. With timely alerts of deadlines and regular updates of bid status, Price Bid gives you the visible clarity that is required to meet timelines and not ask for last minute extensions.
A bid approval can change the plight of a bid by turning a losing bid into a contract award. As drafting of proposals require many add and edit at different stages to keep up with the client’s requirements it is important to keep the entire team updated about the changes. For every revision and justification, it is a must to keep team members in the loop to avoid questions like ‘When was this discount approved?’ or ‘Who has approved it?’. With Price Bid, you can capture competitor’s information, re-look at earlier proposals, get insights about the deal history and analyze the current bid that the team is working on all at one platform.
Keeping back up of documents and communication makes it easier to retrieve data and re-use it in the future. Price bid comes with a Bid Repository feature that serves as a single storehouse for all your bid-related documents like price, scope, BOM, approval, etc.
Bid managers need to analyze data spread across different business units or regions to make sure you can prepare a proposal that is feasible for the organization as a whole. Price Bid provides a single platform for maintaining records and information across multiple business units.
In conclusion, automation in the bid process bring along many advantages for the business in the long run. From cutting down complexities to ensuring transparency across team members Price Bid is an out and out solution for the entire RFP to approval process.