Since the GFC, the level and complexity of tendering processes in government and industry has increased significantly, and many business owners do not understand the keys to being successful with tenders.
The value of contracts that are subject to tendering has also increased significantly.
A lot of business owners who submit tenders believe the biggest factor in every tender situation is price, and consequently make two common mistakes:
- they submit bids that have margins that are too low to be sustainable, and
- they spend over 90% of their time responding to tenders once the tender document has been released and do so with little insight into what the customer is trying to achieve.
Businesses that are successful at tendering avoid these mistakes and:
- spend time with the organisation who’s business they are targeting,to understand the success factors, WELL BEFORE they are translated into specifications and released as a request for tender.
- submit fully compliant responses with an understanding of how to maximise evaluation scoring.
- clearly demonstrates their track record in delivering value for their clients, on time & on budget
- price their products and services with an appropriate margin for profit and options for relevant expansion products and services
The CFO team has tendering experts that have an incredible track record in improving results from tendering including:
- significantly improving win rates (over 50%)
- helping small-medium businesses win against larger competitors
- significantly improving profit on tender projects and follow on work
- significantly reducing the cost,time and pressure associated with completing tender proposals
To benefit from our experience in tendering, call us today on 1800 919 321 or email us at info@cfoadvisory.com.au to start reaching your true potential.
