4 Key Benefits of Tender Management Software
For construction companies working with third parties, tender management can be a complex process. Without the right tools, you may be managing various contracts and proposals at different times; resulting in a lack of control over projects and relationships. Many businesses are however realising the value of a tender management solution. Let’s take a closer look at four of the key benefits.
Greater control over multiple documents
Compared to standard sales processes, tender management can require a very different approach with multiple documents from different suppliers and partners to manage. For example, should you want to tender for a large building construction project, you may need third party input from architects and other suppliers to create a proposal. Traditionally this is done via email, or by using file sharing platforms. With document management as part of your overall tender management process, your sales team can see all the steps in the project. This saves time by avoiding having to switch from one system to another and provides better version control. Microsoft Dynamics 365 Customer Engagement (CRM) and HSO Tender Management enables you to strengthen confidentiality and limit circulation. For example, if various stakeholders need to provide sign-off, your documents can be kept in a secure place with sufficient rights set for the relevant parties.
Leading international maritime service provider Smit Lamnalco is one such company HSO has helped make tender processes more transparent by using Microsoft Dynamics 365. By replacing error-prone and time-consuming Excel spreadsheets with a connected and fully integrated CRM system, the company can now easily share information both locally and on an international level. Everyone now has real-time, clear and complete information in the correct context.
Simplifying stakeholder management
Imagine that you have issued a large tender to build a new bridge. A project of this nature may require many stakeholders such as government agencies, construction firms, architects and design companies. The stakeholders will need to approve various stages of the project, to progress work onto the next phase. With a good tender management process in place, you see a clear overview of all stakeholders who are involved, their importance, and what part they are playing – providing more control over your project stages.
Energy-efficient solution supplier, Itho Daalderop are another company utilising Microsoft Dynamics 365 (CRM), with the help of HSO. With up to a thousand contacts per territory, each Account Manager can now easily see which contacts are active, streamlining both stakeholder and project management. They can gain a complete picture of projects and territories with all contacts concerned, resulting in better control over tender processes; and greater stakeholder visibility. Microsoft Dynamics 365 makes the connection between people, their roles, and power they have – as well as connecting to platforms such as LinkedIn – to gain insight into their experience and surrounding network.
Multiple opportunity management, reducing the risk of duplication
Along with managing stakeholders, multiple opportunity management can be a challenging part of the tender management process. Construction Suppliers often find themselves in competition with several other companies bidding for the same work at the same time. Only one will win – which is where accurate forecasting comes into play. For your Sales Manager, forecasting provides visibility of how many quotes you have for the year and ensures you don’t double count quotations in your pipeline – helping you to identify the one most likely to win the bid. With additional tender management functionality from HSO integrated into your Microsoft Dynamics 365 (CRM) system, you can identify opportunities with individual demand; thus, avoiding the risk of double or triple counting one product or service being sold for the same project.
Making calculations more visible to speed up approval
Following the qualification of a tender opportunity, in order to move it to the next phase, many approvals may be required. Most large projects involve complex calculations, which make it challenging for Senior Management or Legal Departments to view, understand, and sign-off. This can result in project delays, lost time and money. Specialist solutions, such as e-con, are often used to create quotations, so integrating this part of the tender management process, or making it visible within CRM is, therefore essential. CRM systems such as Microsoft Dynamics 365 have the capability to manage the connection with such software, ensuring all parties get access to the right information, helping them to make a more informed decision about signing off a quotation.
When integrated with Microsoft Dynamics 365 (CRM), HSO Tender Management can help businesses make better decisions about each contract. The value of which can result in less risk, an increased level of awarded contracts, and ultimately a more customer-centric approach to projects. This is where the HSO team can help; we provide a total proposition for tender management, starting with assessments to gain insight into your existing processes and business process models, in order to determine the best tender management practice for your needs. We then collaborate with you to implement and support your project.