Nowadays, most governments have a duty to their citizens to ensure that the provision of goods and services for the public is done in the most cost-effective, transparent, and efficient method possible.
To make this happen, governments put out contracts for private sector companies (and occasionally individuals). This process is complex and often very bureaucratic, but still represents huge opportunities for those who bid, as public money is constantly spent for the procurement of goods and services and the amounts spent are truly astonishing.
Did you know that the European Union spends nearly 2 trillion euros on public procurement each year?
Every day, governments from around the world put out tenders, contracts, or Requests for Proposals (RfPs), seeking private sector partners, and this creates many lucrative opportunities for businesses that can fulfill those contracts. As such, government contracts have the potential to provide long-term stability and growth for businesses.
However, there is a lot of complexity in the bidding process, and any private sector businesses seeking to enter this market should be aware that there is a lot of competition for these lucrative sources of income.
To successfully identify and then be awarded a government contract requires a business to excel at strategic planning, precision, and the ability to navigate the contract’s often labyrinthine requirements.
In this article, we’ll walk you through a step-by-step guide to how to win government contracts using online apps such as Tenderwell and thus contribute to the long-term profitability of your business.
Simplifying the bidding process
Governments publish so many tenders or contract opportunities every day that just finding them can be a challenge. On top of that, different government agencies post their contracts in different locations, and each of them has their own unique deadlines, requirements, and submission rules.
According to the EU Data Portal, over 1 million contracts in public procurement were awarded in 2023.
Therefore, the first way that apps like Tenderwell help simplify the bidding process is by putting all the various government contracts in one place. And thanks to powerful search tools and advanced filters, apps like Tenderwell make it really easy to find government contracts relevant to your organization’s capabilities and core competencies.
STEP 1. Set up TENDERWELL to monitor public procurement notes in the sectors of interest to you
Tenderwell members can set up alerts so that they are immediately notified whenever a government contract is published that meets their needs.
But simply finding a government contract that could potentially suit your business objectives and capabilities is only the beginning. The next step is to ensure that you are able to adhere to the issuing agency’s guidelines and rules for submitting your bid.
Every government agency uses different templates, has different formatting requirements, and has different standards for how bids must be prepared.
Step 2. Use TENDERWELL to be aware of the contracting agency’s bidding requirements
Tenderwell lets you access all that information with just one click. Every request for proposal or government tender published on Tenderwell comes with a relevant link to the agency’s formatting standards and bidding requirements.
This is essential for any business seeking a government contract because improperly formatted bids are nearly always rejected, immediately denying your organization any chance of being considered.
The final step of the bidding process involves monitoring and managing the various phases. Assuming a bid has been properly formatted and submitted on time, the government agency will then review the bids and make a decision on whom to award the contract.
Step 3. Check TENDERWELL regularly to manage the phases of the submitted bid
As a business competing for a government contract, it is essential that your organization stays abreast of these phases of the bidding process.
Furthermore, it is critically important to monitor any updates or changes to the government’s needs in fulfilling that tender, which can affect which company is ultimately awarded that contract.
This is why experienced professionals who share government contracting tips will always recommend that you use an app like Tenderwell to simplify every step of the bidding process. This includes finding suitable opportunities, guidelines, and templates for submitting a bid and the ability to monitor a submitted bid all the way to the point where it is awarded.
A step-by-step guide to winning government contracts using Tenderwell
Tenderwell is a cloud-based app, so there’s nothing to download or install. Simply navigate over to the website and you can begin using it, although unregistered or free-tier users will find that some of the functionality is available to paid members.
Once you’re on the Tenderwell site, you can immediately begin searching for government contracts that may potentially match your organization’s core competencies and strategic business objectives.
A full suite of search tools and advanced filters simplify this process so that you can drill down to exactly the contracts that best suit your company’s needs.
As soon as you identify a potentially suitable contract, Tenderwell has everything you need to understand the publishing agency’s bid requirements, including any mandatory templates, forms, and/or formatting guidelines.
You’ll also instantly be able to see all the relevant deadlines as well as other specific prerequisites for bidders that are set by the government agency for that contract.
After submitting your bid in the proper format and in adherence to all of the other requirements from the publishing government agency, Tenderwell easily lets you track the progress of the award process all the way through to the final step.
Whether your bid has been accepted, shortlisted, rejected, or you have been awarded the contract, Tenderwell will keep you notified of every development, including any last-minute changes made to the terms of the contract.
Tenderwell comes with a range of useful features for post-award considerations, including the ability to research previously awarded contracts to better understand the capabilities of your competitors as well as the needs of the contracting government agency.
Via Tenderwell, you will have a communication channel with the contracting government agency as well as any compliance or after-action reporting needed for contracts that have been awarded to your organization.
The perfect app for the job
In short, Tenderwell was built from the ground up by people who deeply understand the sometimes confusing and overwhelming process of how to bid on and win government contracts.
With a simple, easy-to-use interface and a cloud-based architecture that always ensures reliable performance, Tenderwell is the go-to app for any organization interested in pursuing the lucrative opportunities that fulfilling government contracts can provide.
If you’d like to learn more about how Tenderwell can help your organization simplify the process of identifying and then winning government contracts, or to discover more government contracting tips do not hesitate to contact us today.