Is your bidding promising or is it flattering?
Bringing into reality a construction idea or design or building the defined structure or servicing the construction industry is a contractor’s life and survival. This entire exercise begins with a tender request and ends with publishing the tender. Tenders are prepared after a thorough scrutiny of the design, plan, pricing and associated risks. Evaluating bids and considering the most competitive bids is a strenuous task. Though the evaluation process is generic, it varies amoung organizations due to specific organizational processes and the business environment.
Now, what is competitive bidding? What if you can increase your profit margin by 1%?
Pressure is mounting on construction businesses to reduce project costs, which stands as a great challenge for bidding environments. Construction businesses are in constant pursuit of remaining profitable in the long run. Over-promising or shortfalls might turn to be dangerous to your business. Bringing in that competitive edge in bidding is an ice breaking situation.
Well, in a straight-forward tone, competitive bidding is about winning contracts at prices that allows to execute profitably and economically. It is all about securing the best quality products and services at the best economical price as possible. What do you think, helps to analyze bids effectively and efficiently? What makes your vendor selection effective? Now that, there are various tools in the market to provide the best automation ever to support this bidding analysis and vendor selection. Bid analysis is a huge and time consuming process involving large volumes of data and documents. You would need a tool that pushes through this complexity to make it convenient and award-winning. Let us glance through what CIMS Tender Module has to offer on these lines.
What makes up to a successful bid process?
- Tender notification/referral enquiry.
- Payment requests for Earnest Money Deposits and reminders for failed tenders.
- Direct RFQ & comparative statements for vendors rate enquiry.
- Previous tender workings for rate analysis and comparative statements on rates from past tender records.
- Change request management for modifications and additions.
Let us scan through the analytical features of CIMS in handling bids and converting the massive data captured through bids into tactical data to be used for strategic decisions.
Well-structured Process - Easy tracking mechanism of bid participants with a convenient dashboard. Smooth communication flow with instant messaging enabled. Multiple bid templates to facilitate multiple tender analysis and reporting.
Bid Portfolio Monitoring - This is a very effective way of evaluating upcoming bids to enable accurate planning and estimation. CIMS ERP enables pre-tender site visits to help assess the costs associated with resource, facilities materials and manpower. Site investigations help determine early work plan, fair cost estimate, realistic schedules and construction planning. The data captured from these key indicators can be imported into the Project Estimate and Planning for validating the overall cost outcome. Understanding the responsiveness across bids-in-progress provides to allocate resources and plan for accurate cash-flow.
Bid Outreach Monitoring - Evaluating bids in terms of what might work and what might not work or fit the requirements is a valuable assessment to accomplish a project within the stipulated financial limits and preferred quality. Tender negotiations in CIMS helps to re-evaluate the existing qualified bids to enhance the overall quality. It helps assess and rise up to the standards of other competitive bids and more qualified subcontractors. It enables to validate on the quality aspect and modify bids to match the best qualified bid.
Weakness Analysis - Growing to be competitive is the key aspect of bidding. Validating on the weaknesses or gaps in bids as against an awarded bid is highly critical to satisfy the goal. CIMS enables internal area-specific and resource-specific rates and quality to capture any loss in revenue or resource. You can validate on the rates provided by the awarded bid and the associated quality and profitability ratios to enhance and become a strong bidder for future projects.
Verification checklist - Before submitting tenders, the tender checklist facilitates verification of the tender components.
Rate Analysis - Vendor selection is often induced by the best suitable and profitable model. CIMS facilitates a convenient way to analyze rates to evaluate and report the most profitable terms of a bid.
Let's look at the list of factors:
What would you say is the most profitable terms?
- Internal negotiation
- Profit analysis
- Discount on Resources
- Sub-contractor working model
- Location-specific rates
- Area-specific bid analysis
- Resource/item- specific IDC cost arrival
- Templates with previous workings for rate analysis
- Material supply process
- Activity-based scheduling
- Final rate locking
Pre-bid Queries - Clarity in bid proposals drives strategic decision-making. Evaluating the proposals always involve complete clarity in the terms and associated costs. CIMS provides an automated client query feature to facilitate a convenient and easy clarification of bid terms and associated costs. Private and Secure - User access control determines the visibility on bids for internal and external audiences. CIMS features a role-based access for the concerned members to define the level of visibility on the bid components.
Integration - Apart from the regular bid process, other functional integration factors to be considered such as estimating, proposals, forecasting schedules and risks involved. CIMS provides with an integration capability of re-using all tender quotes in planning and estimation. How data is transmitted in and out of the application is a sensitive factor. CIMS enables a secured transmission media to import data into the Planning and Estimation modules.
Portable Reports - With all the all-in-one experience, it might be necessary to export the reports from the analysis to other formats externally. CIMS enables flexible exporting of reports to other formats such as PDF and Excel.
Efficient and Convenient Model - The entire bid process is streamlined with a fully automated platform. Speedy and secured distribution of bid packages. Convenient and easy reporting facilitated to view the current status of bid progression. Get to work on one user-interface on the entire workflow of the bid process.
CIMS has made it easy and reduced manual process out of bidding. Now, CIMS at work, you can focus on making tactical decisions and bid recipients can focus on winning responses rather than managing large chunk of bid documents. Save time, go profitable, and deliver on-time with CIMS in place.
Our experts are ready to provide you a detailed demo about our CIMS product.