Is your bid library bid ready?
We’re seeing more and more companies getting ahead of the game by getting their bid libraries bid-ready BEFORE an anticipated EOI or RFT is expected to be released. “Failing to plan is planning to fail” as the old saying goes, so it makes sense to be prepared well ahead of time, rather than trying to cram everything in during a critical bid phase.
The 5 things we suggest being mindful of when assessing your bid library:
Does your bid library meet the requirements for each type of bid you are trying to win?
Is it compliant to standard bid specifications or bid best practice?
Are there any weak areas that need strengthening?
When was each document last updated and how do you track this?
Are the documents too text heavy (read ‘boring’)? Could they do with a make-over and implementing up-to-date info-graphics?
Having a good bid library that you can draw upon that is compelling, compliant, up-to-date and to industry standard, can save up to fifty percent of time in a bid process. Having an established bid library enables you to customise tender documentation for each and every bid seamlessly. High quality bid libraries not only save the organisation money, it benefits your team by helping them achieve their bronze, silver and gold review targets quicker, easier and with far less stress. The maturity of your bid library can give you a greater competitive advantage and investing in a top quality bid library can help deliver a much higher success rate for the organisation.
That’s a win-win all round.