The Benefits of Bid Management Software

The Benefits of Bid Management Software

This article from Propeller Studios looks at the tools that can make bid management easier and faster to help firms win more work.

Have you ever thought about using bid management software?

Having the right tools in place is one of the most important parts of the bid management process. With complex documents and tightening deadlines, it is hard to keep on track with multiple bids manually. There are plenty of tools out there that can make your bid management much easier, faster, and make it more likely for you to win more work.

Here are some of the benefits of switching your manual processes to a bid management software solution.

1. Cloud Based
It has never been more important to have access to your work, wherever your team are located. Cloud based bid management software allows staff to have access to the system 24/7, from anywhere in the world that has an internet connection. This allows for remote working, and for international collaboration as systems are open all the time. With global working, it has never been more important to have real time access at the touch of a button.

2. Document Storage
Bid management solutions will store your important documents but can also ensure that your bid team find the most relevant, up-to-date examples quickly and easily. The convenience of all the documents being stored in one database allows for a quicker and more effective way to produce a document. It is very useful to have a bank and a knowledge of previously submitted answers. This will speed up the time it takes to create new bid submissions.

3. Timesaving
Good bid management software will save you time on completing your bids. Some software can automatically populate pre-qualification, bid, proposal, and tender documents.

Depending on the product, you can complete bids up to 80% faster than just using manual methods. You could save hundreds of hours and increase team productivity, which in turn boosts your company’s profitability.

4. Easy to Use
Bid management software usually comes with a dashboard that allows full visibility of all your bids, including status and deadlines. You can track bids through the entire process, with an intuitive dashboard.

The easy and intuitive nature of a dashboard often reduces the time taken to train staff on new software systems, meaning that your ROI starts quicker, and the improvements will soon become major benefits to your business

5. Version Control
One of the huge benefits of a bid management solution is that several people across the business can use the system at once. Questions can be assigned so that there is a reduced risk in emailing content around and reduces human error. The real-time collaborative approach to document editing means everyone is editing the latest version, reducing confusion and complications for team members. Bid management software reduces the need for a flurry of emails between staff members, which stops outdated versions being sent out and mitigates against that risk.

6. Professional Look
Bid management software often comes with built-in templates, which makes it easier for the bid team to create professional looking on-brand documents in-house, rather than spending extra time and money on designers. By creating higher quality proposal documentation, your bid team has a greater chance of being successful with their bid, as it will stand out from the competition and look professional.

7. Improve Reporting Methods
Bid management software often provides comprehensive tools that allows staff to create reports for important meetings. Staff can decide when reports should be generated, what information should be included and who they should be sent to. Bid management software often maintains a comprehensive audit trail of who did what and when, keeping on top of essential compliance monitoring.

8. Security
One of the most important things that should be considered when selecting bid management software is the security of the information. Bid management software solutions often allow you control over what users can see and do. This protects your company whilst providing the correct access to staff, and other contributors. The sign of a secure system is accreditations, such as ISO 27001. Accreditations like this cover information security management systems and includes legal, physical, and technical controls involved in an organisation’s information risk management process.

Now that you know the benefits of Bid Management Software, it’s time to consider which platform to choose. One UK based example would be the EasyPQQ system built by bid specialists Propeller Studios.

The EasyPQQ software has been developed from real customer use cases and years of industry expertise. Based on core needs for document creation, the purpose of EasyPQQ is to maximise efficiency and save time throughout all stages of creation, management and distribution of documents.

You can book a free demo to see how the system works here.

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