Should We Outsource or Prepare the Bid Compilation In-House? An Evaluation
Outsourcing bid management stands as being one of the most valuable tender strategies to utilise. Most of the time it results in being a cost-effective direction to take as well. Yet it isn’t so simple to get involved with. So, to make sure that you are getting the best deal from the provider that you have chosen, you need to consider certain aspects with this. Therefore, it is pertinent to ask the question – ‘should we be outsourcing a bid compilation or preparing it in-house instead?’.
Many companies are coming to the opinion that outsourcing in key specialist areas is a good idea. And while it would be normal to consider an in-house scenario as well, it’s important to decide upon which works as the best option for you and your business. So, let’s compare the two and find out what sort of result stands out.
What Works in Outsourcing?
It’s already quite common for a company to outsource its development team, accounting team, and so on. In proceeding with this, there is a great saving on overhead, on recruiting and on time spent training. At the same time, full-time staff cost money, which is a general expense. By outsourcing, you get the chance to tap into the knowledge of experts that can deliver without any of the related costs.
Is there, therefore, a good reason to outsource your bid writing and the management of such?
Well, regardless of whether your business is a start-up or is a multi-national brand, if you are looking to expand, then outsourcing can be invaluable. An agency takes over things and can proceed with strategising a move for you. Focusing specifically on new companies, it is senseless to employ someone on a full-time basis considering they will not have all the necessary attributes to be able to effectively work on all bids.
In the same vein, a larger company that has yet managed to get a good knowledge of competitive bidding can benefit from outsourcing. Why would you employ someone full-time when you can gain more from the resources of those established in the area?
It may be quite ideal to proceed with tendering opportunities in this case. A tender, by definition, is a submission in the form of a proposed bid ticking all the boxes of a tender document. Basically, an offer is made for the supply of the goods and/or services needed. Tender documents are then written up to try win new business to grow the company.
It is also the case that a provider is not something magical, and therefore you should not expect the perfect product to be created. The production of a solution is something that takes time and plenty of effort to introduce. Even though this is the case, these people are experts in their field, so if you have selected a proper provider, then you should trust in their knowledge and capabilities. It is always suggested to work closely with outsourced preparation teams.
The position of tender manager is essentially someone who you outsource to handle the tendering process. Keep in mind that this can be a fairly long process, taking up lots of time. This is why it is ideal to outsource to someone else to do it for you.
Tender managers oversee a bid process. Basically, they’re responsible for all submissions, and these experts can generally be the catalyst for success or failure. So, what do these tender managers do each day?
Tender Managers in Malta and EU locations usually spend their time tracking tender opportunities, seeking out the best contracts for clients. At the same time, deadlines are planned for all bid work, while new projects are allocated to a team of Bid Writers. The full process of collecting the relevant information and supporting documentation (ex. CVs of key personnel) and the compilation and writing of the actual bid document/s are also overseen by the tender manager. They also review each bid that is submitted. They are like project managers of the tender bid preparation phase of such opportunities.
Of course, they seek out leads in Malta and Europe, trying to find the very best contract possibilities. Basically, they will do all the difficult work that you may not have the time or knowledge to do yourself. In this respect, it is very much ideal to outsource a bid compilation, rather than prepare it in-house. Some elements of handholding and transfer knowledge would be required. Constant communication flow needs to always happen.
In conclusion, the main considerations when deciding to outsource or carry-out in-house your bid preparation include time availability, internal skill-sets, experience with such tasks, knowledge-specific requirements, cost and importance of such bid.