To begin with, a tender may be defined as a straightforward offer to carry out a work or deliver items at a specific cost. The tender is binding on both sides if the client approves it. The eligibility criteria guidelines established by the tendering department determine whether a tender is accepted or rejected. “E-tendering” was created to get away with wrongdoings inherent in traditional techniques of bidding. This process has been accelerated by the growth and technological developments in e-procurement software.
However, it is understandable that many times government websites take time to load and the process of finding a tender opportunity itself takes away so much time and energy that the following steps seem overwhelming. To combat such situations, you can always take help of aggregators like BidAssist where you can find multiple opportunities like IOCL tenders, LSGD tenders and more. In addition, you can choose from different bidder plans available on the portal that suit your business goals the best and make the process of e-tendering a walk in the park.
Now, let’s understand the basic demarcations between public and private sector tenders and more in this post.
HOW DO PUBLIC SECTOR TENDERS AND PRIVATE SECTOR TENDERS DIFFER FROM EACH OTHER?
Traditionally, the public sector procurement outline was divided into majorly three stages:
Stage 1: Expression of Interest (EOI)
Stage 2: Pre-qualification Questionnaire (PQQ)
Stage 3: Invitation to Tender (ITT)
Recent changes to the public sector tender framework efficiently merge stages 1 and 2 i.e. (EOIs and PQQs) into a single-stage named “Supplier Questionnaire” also known as SQ.
On the other hand, Private sector procurement has these five stages, all of which begin from the letter “R”
Stage 1: Request for Information
Stage 2: Request for Tender
Stage 3: Request for Quotation
Stage 4: Request for Proposal
Stage 5: Request for Offer
The volume of public tenders is far higher than that of private ones, which is a very obvious distinction between those in the public and private sectors. This simply implies that, in contrast to public sector bids, which are widely available for public review, private sector tenders are far more difficult to access.
3. The Tender’s Nature:
To ensure that procurement processes are fair and free of prejudice, government projects and public sector tenders are often retained as open tenders. We have described the many sorts of tendering processes in our earlier blogs:
a. Public Tenders
b. Limited Tenders
c. Individual Tenders
d. International Bids
A suitable approach is picked based on the contract’s requirements.
WHAT IS OPEN TENDERING?
The engineering and construction industry uses open tendering the most frequently. Companies like IOCL (Indian Oil Corporation Limited) which is a government undertaking mostly release their tenders known as “IOCL Tenders” as open tenders. Even construction and infrastructural development tenders of “LGSD Tenders” which are local self-government bids for projects in panchayats, municipalities, corporations etc are done through open tendering. BidAssist provides listings of such LSGD tenders on its portal along with the option to follow a tender – this keeps the interested bidders in the loop and any new notification is pinged right into their mailbox or via WhatsApp.
It is the most popular way of tendering for both private and public tenderers since it enables the general public to submit a tender to provide the necessary products and services. This not only creates chances for new providers but also enables the pool to successfully bid in accordance with each participant’s skills. The tendering officials undergo a thorough review process for each contract.
In India, the public tendering procedure is well-organized and productive. To keep everything uniform, they adhere to following procedures:
1. LOCATE A PERTINENT OPPORTUNITY
Finding the appropriate opportunities and tenders is the first step and may be done quickly on the BidAssist platform depending on your various criteria.
2. VERIFY THAT YOU MEET THE REQUIREMENTS –
Once you have located the opportunities, the following step is to download the tender notice and review the checklist parameters to see whether you satisfy the requirements of the tender process. To advance, ask yourself these questions:
a. Can my company afford the time and money required if we don’t get the contract?
b. Does my company have the necessary technological know-how and experience?
c. Do the project and sector support the goals of my organisation?
3. SHOW THE BUYER YOU’RE INTERESTED –
It is appropriate to indicate your interest to the buyer through a “Expression of Interest” at this point in the tendering process if you are certain that you satisfy all the conditions as outlined above. It only entails reaching out to the buyer authorities and asking for the whole documentation, or obtaining it from an internet site. Similar to that, bids may be submitted by:
a. A request for information that will assist in project definition.
b. Request for Proposal: The project specifications are known, but inventive and adaptable solutions are needed.
c. Request for Quotation – Ask companies to provide quotes for particular products and services.
d. Request for Tender – A proclamation issued by public advertisement.
4. FINISH FILLING OUT THE PRE-QUALIFICATION QUESTIONNAIRE.
Buyers will exchange a Pre-Qualification Questionnaire at this point, reviving the selection procedure. The Government has made a standard Selection Questionnaire available for review in order to ensure consistency in the selection procedure.
5. RELEASE OF THE INVITATION TO TENDER –
Following receipt, the Pre-Qualification Questionnaire (PPQ) will be analysed in accordance with their standards. Your chances of getting the tender contract increase as more requirements on your questionnaire are checked off. After the review process is complete, the successful tenderer will be chosen, and the rejected submissions will be informed to the other bidders. If you have already been awarded the contract, you have been added to the buyer’s shortlist.
6. SUBMIT A COMPREHENSIVE BID RESPONSE.
The key milestones for winning a tender project have been reached. After reviewing your application and verifying that you possess the necessary tools and know-how to complete the project’s requirements, the tender initiator (buying authority) has invited you to submit a bid. The tender answer submission phase is the last in the application process. At this point, you must highlight all of the projects you have successfully finished or draw attention to significant unanticipated circumstances that your company effectively managed. Keep in mind that you have a chance to win or lose the contract here, so put your best foot forward. Ensure that your thoughtful reaction sticks out. Don’t be hesitant to market yourself since doing so will help you stand out from the competition.
To be able to stand out of the crowd and leave a mark as well as stay updated constantly on the listings and finding the right ones for you, employ the services of BidAssist that will help you grow your business manifold.