Tendering for projects is a good business avenue for Small and Medium Enterprises (SMEs) because these opportunities provide a good pool of potential customers. However, its tight deadlines, competitive nature and long drawn processes could deter SMEs, especially when teams are lean and manpower is scarce. Fortunately, the digital transformation effort from companies adopting e-Tendering platforms also allows suppliers to leverage technology to simplify their own tendering processes. This article explores how e-tendering platforms can be a valuable resource for SME businesses, where they can also utilise software tools to track and manage their tender opportunities.
1. More Tender Opportunities
One benefit of e-tendering platforms is that they provide a centralised solution for discovering more tender opportunities. Some platforms are purely an aggregation tool to track and alert suppliers of tender opportunities in other sources. Other systems, like TenderBoard, have exclusive tenders directly on the platform, and it also tracks tenders from other sources.
These systems typically have a diverse array of tenders, enabling SMEs to expand their business prospects and access a broader pool of potential contracts.
2. Centralised Communication
When tendering for projects, it is common to have buying organisations and suppliers send clarifications throughout the tender. However, multiple communication channels where questions and answers are not recorded could lead to miscommunication between parties.
E-tendering platforms provide a centralised source of communication, so suppliers can easily seek clarifications, receive updates, and interact with buyers throughout the tendering process in a single platform. Requests and clarifications are also usually recorded on the platform for all parties to refer to during the tendering process.
3. Access Tender Data
Tendering platforms may sometimes offer access to past tender information, which can provide valuable insight to purchasing habits or pricing trends.
In Singapore’s government tendering portal, GeBIZ, tender results stay up on the site for 6 months, allowing suppliers to review past tender opportunities and its bidding information. And on TenderBoard, our Supplier Portal retains up to 7 years of public tender information, allowing users to review and filter data. This facilitates analysis and continuous improvement to maximise the likelihood of tendering success.
4. Fair Bidding
E-tendering platforms are often used to improve transparency and fairness of tenders. To ensure suppliers are given equal opportunity to bid for projects, tendering platforms release tender information and notification alerts to suppliers at the same time, reducing the potential risk of bias or unethical practices.
Overall, tendering for projects on tender platforms also helps suppliers with the tendering process. By giving them access to a broader range of opportunities, improving their bid quality, and enhancing their competitiveness in the tendering landscape, suppliers can leverage technology tools to help simplify their tendering process and automate some of the manual tasks away.
On TenderBoard’s Supplier Portal, the system is designed to empower SMEs in their quest for tender success. Built separately from our eProcurement system, suppliers on the Supplier Portal harness the power of automation and aggregation to analyse and win more tenders. Some of the benefits include:
- Access to exclusive deals from buyers on the platform
- Daily aggregation of Open Tenders from over 40+ open tender sites in Singapore
- Consolidation of tender data from the last 7 years
- Tracking and benchmarking of companies’ tender performance
TenderBoard has helped suppliers with their tendering process, from finding new business opportunities to data analytics and invoicing. By using TenderBoard’s Supplier Portal, SMEs can navigate the tendering landscape with ease and confidence, maximising their chances of securing valuable contracts.