The focus with bids and tenders is often on winning new contracts. You can easily become complacent about contracts you already have. Taking your eye off the ball with your existing business is a big risk.
As an incumbent supplier you have clear advantages. But they are only advantages if you use them. An increasing number of companies are also finding that smaller public sector contracts are being aggregated and being put out to tender. This means two things:
● The contract becomes subject to formal procurement and tendering rules so a simple quote or proposal is no longer enough.
● Contracts become large enough to attract large regional or national competitors.
Remember too: your most lucrative contracts are the ones that your competitors are eyeing up with envy. When it’s time to re-bid they’ll be ready to give it everything to take that contract from you.
How to protect your existing business
● Treat every re-tender process as though it’s a new contract opportunity. Go back to basics and think what you would do if you were approaching formal tendering for the first time.
● If your contracts become subject to formal tendering for the first time read our guidance and consider a Tender Readiness Check.
● Remember that the decision may involve people who don’t know you as well as your normal operational contacts.
● The added value you are already delivering won’t be clear to your client unless you point it out.
● Never assume that policies and supporting documents are compliant because they were fine the last time you bid for the contract.
● Revisit your assumptions, costs and prices to make sure your solution is still good value for your client.
Losing a big contract is something businesses rarely see coming. It sends shockwaves throughout a business and suddenly gets the attention it should have had before the bid went in. The last thing you want is for this to happen ‘on your watch.’
Winning Tenders offers fresh, impartial eyes so you leave nothing to chance with the contracts you can’t afford to lose.
Take the first step to putting your business in control of the tendering process…
Talk to Winning Tenders about a Tender Readiness Check >>>