A Refresher on Participating in the Tendering System

In the simplest terms, tenders can be defined as an invitation for bids that are floated by diverse public and private sector organizations across the globe for the completion of any large scale project.  Through this system enterprises are able to invite quotes from various qualified suppliers and contractors operating in the industry.

In case of the tendering process, the particulars and specifications of a certain projects are featured and outlined in a document known as the Request for Tender. As a response to this specific document, the interested and qualified contractors in the relevant industry ideally would have to submit their distinct bids within a pre-defined deadline.  In these bids the contractors should underline the price that they would charge for the project, their expected project timeline and the quality of materials that they intend to use in it, as well as any other vital information that may be relevant and necessary. The contract is ultimately awarded to the contractors offering the most superior quality of products at the least price point in their bid.

The system of tendering additionally offers an incredible opportunity to start-ups and budding enterprises to acquire prestigious international contracts, purely based on their ability to convince the buyer.  Due to the highly meticulous and systematic process of tendering, there are absolute minimal risks of any bias or nepotism involved in it, and hence the bidders are judged solely on their merit and bid specifications. 

Nowadays, the tendering cycle commonly takes place on a virtual platform. Hence, contractors can easily participate in all kinds of international tenders online; be it those from Poland, Algeria or Australia tenders from all countries are easily accessible nowadays.

First step of participating in the process of tendering

To participate in any tender, whether national or international, contractors would firstly have to be aware of the tendering opportunities available in the market. Hence, they should be proactive about keeping an eye on the new tenders that are issued every other day in the market.  Contractors can typically find information about the various tenders floating in the industry through: 

• Advertisements published in national and local newspapers
  
• Advertisements published  in professional and trade based magazine that covers their particular area of business
  
• Professional networks and trade organizations
  
• Following up on contract notices published in trade magazines
  
• Online tendering portals

Amongst the options mentioned above, the best way to find up-to-date details about any tender would be by keeping a track of the online tendering portals. Through them people can easily get quite accurate details about all kinds of international tenders online, be it those from Tanzania, Italy or Australia, and then proceed with applying for the same.

Facts to Keep In Mind While Bidding For Tenders

A competitive bidding procedure known as tendering is commonly used by both private and public sector enterprises across the globe. This system helps organizations to identify the most efficient contractor in the market for the completion of any large-scale project.  

Majority of reputed enterprises of the world follow a specially designed bidding process for their tenders. This includes a meticulous system for governing the opening and evaluation of bids, as well as the final selection of contractors. Being a highly systematic and well-defined process, absolute transparency is maintained in the tendering system. As a result, it provides an opportunity to medium and small scale businesses to secure lucrative global contracts.

Local contactors having adequate infrastructure, experience, accreditation and skillset can easily win Denmark, Poland, Australia tenders, or some other international contract, and subsequently make a mark on the international market. However, before participating in the tendering process, it is imperative for the contractors to be well-versed with its important elements.

Here are some facts that contractors must take into consideration while participating in a tendering process:

• After acquiring the Invitation to tender (ITT), the bidders need to formulate a response for it, which underlines how they shall deliver the contract. This response should ideally include the pricing proposals, along with the technical solutions offered by the contractor. The bidders must provide highly persuasive and well-defined response to the ITT that demonstrates the reasons that make them the best suited to the contract.
  
• From the buyer’s perspective, the aim of any tendering process is to identify the most economically advantageous contractor. This simply means that the bidder offering the best quality of product at the lowest price would be awarded with the contract. The bidders must always keep this point in mind while formulating the tender response, and make their pricing proposal accordingly. They should also highlight the areas in which their company stands out from the competitors.
  
• To avoid any risks related to transnational transactions while participating in international tenders, contractors must conduct a thorough market research to be assured of the reliability of the buyer. They should find out as much information as possible about their financial structure and stability.

Contractors can find information online about tenders issued in Australia, New Zealand, Poland, or some other part of the country quite easily by exploring any prominent website specializing in tender details.

An Overview on the Process of E-Tendering

Tendering is a popular process used by a number of organizations in order to invite bids for the completion of large scale projects. In today’s highly digitized environment, the system of tendering is quite often conducted through a virtual medium, and is commonly referred to as e-Tendering. 

The e-tendering system comprises of a number of phases and steps, the most important ones being:

• Submission of EOI or Expression of Interest through an online tendering portal
  
• Completing the pre-qualification questionnaire
  
• Completing of the tender or bid document
  
• Downloading all relevant tender and bid related files and documents
  
• Asking and receiving responses related to queries or doubts about the tender
  
• Tracking the progress of the tendering, as well as its evaluation process
  
• Receiving instant online notification about any changes made to the tender specifications
  
• Storing all the vital information relating to the tender bids and various other documents relating to it
  
• Uploading and editing relevant documents online 

The e-tendering system has a number of significant advantages and two of them that have primarily led to the popularity of this system are as follows:

•  E-tendering is a much more easily understandable and structured process as compared to its traditional system. It has an efficient step-by-step approach, making it quite simple for the bidders to participate in it. At times, bidders are required to fully complete one section in order to progress to the next, which in turn reduces the chances of a non-compliant bid.

•  As a typical e-tendering system is divided into various distinct sections, it becomes much easier for bidders to understand and navigate through the whole process. This system is specially designed to provide the bidders straightforward questions that are objective in nature, therefore leaving no room for misinterpretations. This especially comes in handy when bidders have to apply for online tenders in Australia, Japan, the UK,and such other countries where the laws governing international business are quite stringent.

In addition to the advantages that e-tendering offers to tenderer as well as bidder, this system is being widely used by private and government organizations alike. Especially in countries like Japan, U.S.A, U.K, Australiaand other developed nations, online tenders have now become a norm and most business development managers solely rely on portals where such tenders are published to bid for the suitable ones and further the growth prospects of their company.

4 Salient Benefits of Tendering

Tendering is essentially a bidding process whereby large companies, government departments and NGOs invite bids from potential contractors and suppliers. The bids are usually invited for large projects that typically involve a significant sum of money. Tenders are invited for the supply of goods or the completion of particular projects. Various industries need to source materials for a variety of projects, including construction, power generation, infrastructural expansion, etc. Bids are invited from all interested and qualified contractors, as this allows the buyer to select from a large pool of potential suppliers. Some of the primary advantages of the tendering process have been listed below.

• Competitive Market : The tendering process encourages potential contractors to compete with each other in terms of price and quality. This provides an impetus to all of them to improve the quality of their product while lowering their prices. As a result, operational inefficiencies and redundancies are weeded out and the contractors become more efficient over time.

• Fair Evaluation: Under the tendering system, all the submitted bids are evaluated in public on certain predetermined criteria, which usually include price and quality. Therefore, this process of evaluation leaves little room for nepotism or favoritism in the awarding of contract. The contract is simply awarded to the company quoting the lowest price for the highest quality product.
• Value for Money: Tendering enables the buyer to get the best possible value for their money. This is because it enables them to choose from a large pool of interested contractors, all of whom are competing to win the contract. As a result, the tendering process helps drive down prices while improving the quality of the end product through competition.
• Ease of Entry :Tendering makes it easy for new firms to enter an industry. This is because one does not require prior contacts and relationships in order to win a tender. By providing an excellent product for a relatively low price, even a new entrant can win a prestigious contract through tendering, thus getting a firm foothold in the industry.

You can check out the websites of some of the most reputed online tendering portals to know about the latest national and international tenders floated in any particular industry. You can get up-to-date information about the latest New Zealand and Australia tenders online or those from any other country, simply by visiting the website of a reputed and reliable tendering portal.