For many companies, the key to securing new business and expanding lies in participating in competitive tendering for contracts in the public or private sectors.

In its simplest form, the bid management process entails completing pre-qualification questionnaires (PQQs) and invitations to tender (ITTs) - specifically designed documents for assessing and selecting the most suitable supplier to fulfill a contract. Typically, this process is overseen by a bid manager, a manager, or a director within an organization.

Some companies opt to employ a dedicated bid team or bid writer to handle bid documents, while others may involve their marketing and sales team or choose to outsource the bidding process to a professional bid and tender writing company.

As bid submissions require time and resources, it is crucial to deliver a high-quality bid to maximize your chances of success. One way to enhance your chances is through effective bid and contract management.

What is bid management? Bid management encompasses the management of PQQs and ITTs. It involves ensuring compliance, responding to queries, and submitting bids on time. Bid managers often handle multiple bids concurrently.

Bid management commences even before the release of a potential contract. A bid manager prepares supporting documents, model answers, and case studies of previous contracts. These materials are thoroughly reviewed and quality assured to ensure the strongest possible bid once the official bid process begins.

Upon the release of a PQQ or ITT, the bid manager assesses the organization for compliance and starts gathering the necessary information to address the questions. Finally, the submission is completed.

However, the process doesn't end there. An effective bid manager follows up on the bid and, regardless of the outcome, seeks feedback to improve future submissions.

Implementing bid management in your business The role of a bid manager is not a part-time endeavor. For the best chance of success, your business should consider employing a full-time bid manager or outsourcing the entire process to a bid writing service or consultancy that specializes in creating winning bids.

Utilizing a bid manager ensures the quality of your bid submissions. It also allows other staff members, who may have previously been involved in bids, to focus on their day-to-day responsibilities. This not only improves bid quality but also enables your business to operate smoothly.

Tips for the bid management process Maintain a comprehensive record of all contracts, end dates, upcoming bids, and new opportunities to effectively monitor and manage all bids. Keep your company accounts, memberships, accreditations, case studies, and CVs up to date. Develop a bid library comprising common topics, model answers, and high-scoring narratives to streamline the bid writing process. Ensure you have reliable bid writing support, either in-house or external, readily available when needed - as you may encounter multiple crucial bids simultaneously. Subscribe to receive alerts about new contract opportunities. Approach each bid with a fresh perspective to avoid stale content that could lead to low scores. Continuously learn from results and feedback to drive ongoing improvement.

Outsourcing your bid management If you decide to outsource your bid management, our team of professional bid writers and managers at Intellect Management Services is well-equipped to support you. We handle and manage approximately 600 bids annually for various clients, boasting an impressive success rate of 85%.