Quality of Information
The need for accurate and compelling information within the tender process is obvious; it is vital if a bid is to be successful. But ensuring that information is as compelling, accurate and up to date as possible can be a time-consuming process for the pursuit team as it draws on expertise from across the enterprise. Are you confident that you have a well-established central repository of accurate, compelling and easily accessible corporate knowledge?
What are the risks?
A successful tender may require the input of tens, possibly hundreds, of people from across the enterprise. The pursuit team face a challenge to harness this information within the constraints of the tender deadline and rely on contributions from subject matter experts. This is a worthy approach, but does present its own set of risks.
Knowledge Resides in Individuals
Relying on the knowledge of individuals presents the risk of not being to access the right information when it is needed. If a subject matter expert is not available due to schedule, holiday or illness this can introduce delays to the already tight tender schedule.
Hard to Find
Even if knowledge is formally recorded, it is often recorded on local drives or within specific departmental applications with indexing that is bespoke to that particular subject matter expert or team. This can make it hard for the pursuit team to locate the information it requires.
Not Up to Date
Business information changes over time, sometimes dramatically. Without the right time and incentives, subject matter experts may not recognise the importance of continually updating the information used by the pursuit team.
Both subject matter experts and members of the pursuit team hold valuable knowledge. Organisations face a challenge to retain that knowledge within the enterprise when an experienced team member leaves the business.
What can you do?
The key to successful management of quality information is to maintain a central library of accessible, approved and regularly updated knowledge.
Best Practice for Quality of Information
> Creation of a knowledge library as a centralised source of information.
> Easy-to-use tools to mine information catalogued in the reference library.
> Effective knowledge feedback loops.
> Aim for continuous improvement.
Use leading software for managing the tendering process and maintaining the quality of your information
Our innovative software, TenderEyes™, supports successful tendering by enabling information to be collated, stored, authorised for use and made accessible to the relevant pursuit team members. TenderEyes™ can be configured with a selection of gateways and approvals to allow only approved information to be available for use.
Our software also supports and manages the whole process of tenders from opportunity selection and management, through to bidding, winning and onward into contract delivery and sub-contractor management. Our ground-breaking software is ideal for large organisations with dedicated tender teams that spread over multiple nations and continents.
Would you like to see more?
If you would like to see how easy it is to use TenderEyes, book onto one of our free demos, where we can take you on a tour of the software and answer any questions you may have.
Alternatively, you can find out more about the importance of quality of information here.