It is often said that the beginning of a great day happens the night before, the same ethos applies to successful tendering. It is important to track opportunities ahead of time to allow you to build projects in to your cash flow and budgets, and to plan the appropriate resources to ensure a timely and professional response that doesn’t impact on other areas of the business. Tracking should also include the renewal dates of any contracts you have previously lost out on, as you will have gained valuable knowledge and feedback from your previous bid.
Tender tracking products are effective ways of tracking and identifying opportunities (Disclaimer: Tender Ready offer a Tender Alerts service, info can be found here), and often offer more insight into the opportunity than simply the requirements documents and submission dates.
However, many businesses, particularly in the early stages of strategic tendering, prefer to carry out this activity themselves. Local Authority websites, local newspapers and local and regional procurement portals are good tender tracking sources for lower value contracts, with national portals, such as Compete For, offering visibility on national and higher value contracts. But be aware that using this method for tender tracking can be a labour intensive exercise.