In the entrepreneurial world, there are few sectors more dynamic than the business of public bidding on tenders from government agencies and similar organizations. However, this sphere is highly complex and difficult to navigate due to bureaucracy, high competition, and intricate processes. Luckily for businesses, apps like BidNexus are revolutionizing public bidding. In this article, we’ll explain how.
Every day, a government agency or multilateral organization working in the field of international development will put out tenders, asking for private sector businesses to fulfill their needs, whether that is in the form of services, material goods, or both. This public bidding process is an essential component of ensuring a fair, equitable, and affordable process for public spending and project implementation.
But as every organization which works in the public bidding business knows, there’s a lot more to winning a tender than simply stating your capability of doing so and naming a price. Public bidding processes are often hamstrung by complexities like intricate or stringent documentation and formatting standards. Other obstacles include:
● the need to form consortia or groups of sometimes competing organizations
● qualifying individuals in order to fulfill the demands of the tender.
Likewise, the way that tender submissions are ranked and evaluated may also serve as administrative barriers to successful outcomes.
Thankfully, Software-as-a-Service solutions (SaaS) such as the BidNexus app are revolutionizing the public bidding industry. In this article, we’ll show you what industry Saas impact that apps like BidNexus are having as well as how organizations that regularly bid on public tenders can get a leg up on their competition.
Unlike B2C businesses which focus on providing goods and services to customers or B2B businesses which sell products and services to other businesses, public bidding falls squarely in the realm of B2G where organizations compete in order to provide services to a government (or multilateral) agency.
Introducing BidNexus
BidNexus is a highly advanced, fully encrypted cloud-based app that was created by the people at DevelopmentAid, the world leader in data and information services for organizations and enterprises working in the field of sustainable development.
BidNexus was designed from the ground up to be an SaaS (software-as-service) app, meaning that it exists solely in the cloud to provide maximum flexibility and security. Because there’s nothing to ever download (or update, or patch, etc,), BidNexus can be accessed by authorized teammates from anywhere in the world, using every kind of computer or device, regardless of operating system or device capabilities.
In short, BidNexus looks and feels like a simple, easy-to-use website. But don’t be fooled by its streamlined design and easy learning curve because there is a powerful project management system hidden away “under the hood,” so to speak.
BidNexus is tailor-made for managing every step of the project acquisition and management process, starting from identifying potentially suitable tenders all the way to document storage, budget management, and adhering to deadlines and milestones.
The app lets project managers see everything at a glance, including team assignments, research and data or current and past projects, and the status of all ongoing projects. And the SaaS solution’s powerful search function lets you instantly comb through transcripts, documents, and records, keeping everything safe and secure with industry-leading encryption.
Key Features of BidNexus
BidNexus makes identifying prospective tenders to bid on a snap because it has one-click integration with DevelopmentAid’s information portal. But even if you’re importing data from somewhere else, the app makes it easy to assemble and analyze prospective tenders, including a resource library and research tools to understand every organization’s rules and guidelines for submitting tenders.
Furthermore, thanks to BidNexus’s advanced algorithms, the industry SaaS impact app can also help you quantitatively assess your chances of winning a given bid based on previous performance and public records. In short, BidNexus offers a full suite of centralized bid management tools so that your organization can easily manage multiple bids.
BidNexus key features:
● Integration with the world’s largest development information platform
● Project management tools
● Integrated communication tools
● Compliance and reporting functions
● High security and encryption
BidNexus also comes packed with a wide range of collaboration and communication tools. Because it is a cloud-based app, it securely stores all records and documents, making it easy for teammates to access them. The app also allows project managers to assign tasks to team members and to keep track of their progress. And when it comes to communication, it has a fully integrated email and messaging function as well as auto-generated transcripts for phone calls with outside consultants and expert professionals.
But perhaps the greatest strength of BidNexus is its built-in compliance and reporting functions. Whether it’s regional regulations such as the EU’s GDPR (data privacy law) or international standards like ISO 27001 (information security management), BidNexus ensures that your organization always adheres to all relevant legislation and requirements. And thanks to the industry-leading encryption methods utilized within the app, your organization can rest assured that its data is secure from both malevolent actors (hackers) and competitors.
Last, but surely not least, BidNexus is designed to be fully integrated into your organization’s enterprise systems. Data can easily be imported or exported to most industry standard apps such as Microsoft Excel format as well as email services, and it is customizable to meet your organization’s unique needs.
BidNexus and its impact on the public bidding process
Some organizations are still relying on an ad hoc method of bidding on tenders, including spreadsheets scattered across multiple computers or devices or, in some cases, even handwritten notes.
BidNexus streamlines your workflow and virtually eliminates manual errors. Since it is a cloud-based app, it securely keeps all data in one location, and its powerful search feature allows you to quickly retrieve documents from any stage of the project management process, including previous bids and complete projects. BidNexus also performs regular back-ups so that, even in the unlikely event that there is a problem, you’ll never lose your existing data.
As one of the industry’s leading SaaS solutions to the public bidding process, BidNexus also can provide a full audit trail for when that’s needed. This ensures governments and multilateral organizations a fully transparent public bidding process, which is of key importance to their stakeholders.
BidNexus is also revolutionizing industry practices by providing a competitive edge to its organizational users by providing outstanding cost savings and higher returns on investment (ROI). With everything contained in one secure central location, organizations no longer have to expend time or energy in tracking down documents, reports, messages, transcripts, and other relevant data. And thanks to BidNexus’s full suite of research tools, your organization will always know exactly what formatting and other requirements a government agency requires to successfully bid on a tender.
The future of public bidding with BidNexus
As AI and other machine learning tools are integrated into SaaS solutions such as BidNexus, the future of public bidding is going to become ever more competitive and cost-efficient.
Many governments and multilateral organizations already deploy computer analysis to bid submissions, and apps like BidNexus will automatically ensure that your company’s bids are fully compliant with their guidelines and requirements.
With so many dynamic changes evolving so rapidly, it is impossible to say what the public bidding process will look like in the near future. But one thing is certain - only companies who use SaaS solutions like BidNexus will be able to compete in tomorrow’s all-digital, high-speed artificial intelligence environment.
If you’d like to see what BidNexus can do for your organization and help improve its bidding process on public tenders, request a Demo today. Our team is always available and ready to assist you with any questions and concerns you may have.