If you have a specific question that is not answered here, please feel free to contact us directly.
What is the difference between a PQQ, ITT, RFP and RFI?
PQQ (Pre Qualification Questionnaire): Is a fact based, high level document issued as a preliminary checkpoint to gauge general interest and quality of potential suppliers. This document is often, but not always, used to shortlist suppliers before a more detailed and open format ITT or RFP is issued. In some instances a buyer may bypass a PQQ and go straight to the RFP/ITT stage.
ITT (Invitation to Tender): Sometimes used interchangeably with an RFP/RFI. A more technical ITT can be used when a buyer is specific in what they are looking for and can therefore be more price focused. Whereas a more general ITT or RFP/RFI can be used when the buyer simply wants potential suppliers to outline how they will approach the problem based on the information outlined in the RFP document.
RFP/RFI (Request For Proposal/ Request for Information): These two terms are used interchangeably and refer to the document, issued by a buyer, which sets out their requirements and asks a series of questions to give potential suppliers the opportunity to outline how they will approach the project. An RFP is then usually more complicated than an ITT as it calls for the presentation of a more detailed and specific response to the outlined requirement or problem.
How long will the tendering process take?
Each tender will differ according to the specifications and requirements of the buyer, however the Tender Ready team will ensure the process is as streamlined as possible. However, it is important to note that buyers can often tell when you have submitted a generic piece of work. The Tender Ready team will work with you to ensure you completely understand the requirements of the tender, and will ensure the submitted response is specific to the bid and addresses each of the questions and specifications at hand. This proven approach has been developed over 20 years of experience in writing bids and proposals and building relationships with buyers. In our experience suppliers are ruled out at the early stages of a process if the buyer feels they have taken a 'one size fits all' approach to the bid
What does the Tender Ready service look like and how much involvement is required?
Tendering is a resource heavy process, and many business owners do not have the time to give this due attention without impacting on day to day business activities. The Tender Ready team will effectively become your tendering department, taking the heavy lifting out of winning business, leaving you free to focus on your core skills and competencies and running your successful business.
The Tender Ready process begins with a fact finding day that will allow us to gather the necessary information to compile a detailed case history of your company. Time spent of this stage will be reduced on repeat tenders, allowing us to further streamline and minimise the impact of submissions on your own personal time.
Once our information gathering is complete, we will work within your schedule to achieve key milestones and data checkpoints where you can advise, critique and give additional input. This process is designed to give our team all the information they need to represent your company without impacting on the other day-to-day activities within your organisation.
What is the cost of the Tender Ready service?
The amount of work required depends on the complexity of the tender, the stage in the tendering process that you are at and the level of support that you require from the Tender Ready team (ie. Submission only, presentation preparation, full presentation support). We will always agree a project schedule at the outset and costs will be pre-approved at this stage. We offer a cost effective pricing structure that will suit all businesses, including hourly, daily and project based rates.
How do we get started and what is the first step?
What is the Tender Ready success rate?
Tender Ready has achieved shortlisting success of 75% with conversion rates running at 90%, where the Tender Ready team has been directly involved in the preparation and presentation of the final pitch. Again, each tender is unique and the response will depend on the nature of the tender and the suitability and strengths of the supplier. The Tender Ready team will always advise if they feel that our clients have a reduced chance of reaching the shortlisting stage, and will conduct a post-submission debrief as standard to assess buyer feedback. This will allow you to develop and refine your company offering before the next stage in the tendering process. In the event of an unsuccessful submission, we will work with you to critically analyse and highlight areas for improvement ensuring an increased chance of success for your next tender submission.