What is tendering?

Every organisation is in the market for new funding and new sources of revenue, and there is no bigger potential customer than the government. Every day, the local, state and federal government award contracts to businesses of all difference sizes across a wide range of industries. It is seen as cash that is there for the taking.

But in order to be awarded with those types of contracts, you first have to be able to find a “tender,” and the process to find a tender is one that can be a struggle. Bidio is specifically designed to make it easier to find tenders for any purpose. We encourage you to schedule an appointment with our team members if you’d like to learn how Bidio works.

Long before you can obtain your first contract, it helps to have a better understanding of what a tender even is. A “tender” is an invitation to bid on work with a buyer of products and/or services. It is also referred to as an “Approach to Market.”

When a government office – whether it is a federal, state, local, or related organisation – needs a product or service, they release information about what they need to the general public and invite suppliers to bid on those goods and services.

The tender stays open for a pre-set period - usually 2 to 4 weeks, but it varies – and allows businesses to submit their bids during that period. Then the same government office closes the tender, evaluates the applicants, and awards it to the supplier they’ve chosen.

At Bidio.ai, our platform curates all the data on these tenders, including not only the newest open tenders but also closed and awarded ones from the past several years. It then allows you to search through a massive database of tenders from all over Australia, and use that data to find new tenders, analyse past ones, and so much more. We also offer Free Tender Alerts for those interested in exploring submissions.

Once you’ve found a tender that fits your business, you can then submit your bid and information, a process known as “tendering.” You’ll need to first fill out a “tender document” that is a form that government agencies require. Usually the form can be downloaded, but sometimes it needs to be requested. You’ll then need to “write a tender,” which you can learn more about here and submit it to the agency before the closing date.

Then you wait.

The agency will evaluate all the submissions, shortlist them, review them against the qualification criteria, and then choose a winning tender. That tenderer will then be awarded the contract. All companies that submit tenders will be able to see where their tender was ranked when compared to their competitors, which will help you with your next submission.

Note: Bidio has tools that can assist you in managing the tendering process, so make sure to reach out to our team if you need help. 

Government agencies both large and small need businesses like you to provide the products and services they need. They use tendering, because it is considered a more fair, unbiased, and transparent procurement approach, and prevents these agencies from awarding contracts in ways that enrich themselves or waste taxpayer money.

Tendering is a great way to improve your profits and grow your business. But it also takes knowledge, analytics, and the ability to find the tenders that suit you best.

Contact Bidio.ai today to learn how we can support your tendering efforts, and help you grow your business.