Tender Management
Transform your tender workflow and collaborate seamlessly
A Complex, Multi-Step Process
Tender management is a complicated process that unfolds across 7 critical stages:
- Discovery
- Qualification
- Preparation
- Evaluation
- Submission
- Governance
- Intelligence
Each stage presents its own set of challenges and opportunities, requiring meticulous attention to detail and strategic decision-making. Organizations must navigate strict evaluation rules, inflexible deadlines, limited negotiation flexibility, and the involvement & coordination of multiple teams. The volume of data to process and analyze within tight timeframes, coupled with increasing competition, stresses the need for plannable and data-driven approaches.
All-in-one solution
My Tenders is your all-in-one solution for advanced tender management.
Our Tender Management module is designed to meet these evolving needs, providing a robust solution that addresses each of these critical areas. Your team can confidently navigate the complexities of tender management and achieve optimal results with unparalleled precision.
The AI advantage in Tender Discovery and Qualification
In the pursuit of uncovering the most relevant tender opportunities and valuable insights, we leverage Large Language Model (LLM) capabilities, to analyze and generate human-like text, enabling seamless automation of document processing and data extraction across multiple languages.
Through automated processes like web page scanning and fetching, coupled with focused web crawling techniques designed to seek out specific information and topics, our AI-driven system ensures that Life Sciences organizations can identify, assess, and capitalize on the most relevant tenders and market insights.
Discovery & Qualification
of relevant tenders:
We have established a procedure to extract tenders in situations where specific requirements are needed beyond simple keyword search. Our technology enables us to train the AI model to understand the context of each customer’s business and product portfolio, enabling the qualification of tenders using alternative terminologies, therapeutic areas, product classifications, etc., resulting in more accurate tender qualification and noise reduction.
What is my Tenders?
A private workspace in which users can qualify tenders from the Tender Calendar, work on the tender data, collaborate and record the tender outcome.
- Qualify Tenders from Discovery
- Add tenders manually
- Focused Tender Workbox for qualified tenders
- Add, edit and delete tender data including lot information
- Outcome Tracking
Collaborate Effectively
A built-in workflow allows teams to work on a tender in parallel. Different workflow statuses allow teams to work asynchronously when processing tendering information. Facilitate communication by writing personal notes or messages to the teams. Ability to work in collaboration with other users on tender data, by tracking the stage of each qualified tender from discovery to outcome tracking
- Tender Stage tracking
- Embedded Workflow options from discovery and preparation to award
- Embedded Workflow options from discovery and preparation to award
Work with Tenders & lots – edit award criteria
Optimize your pricing strategy and maximize your chances of success. Simulate thousands of pricing scenarios in seconds, analyze competitor behavior, and calculate win probabilities at critical price points.
- A dedicated tender processing page allows viewing & editing tender information easily. A dedicated lot details screen shows all qualified lots with the ability to sort or quickly sort when the list is long.
- For every lot, teams can decide if they are relevant and choose if they are going to bid for it.
- View and process award criteria for every lot.
Effortless access to tender attachments
All relevant tender documents are readily available within the platform. Simply click and view, saving you valuable time and streamlining your workflow.
AI-Enabled Governance:
TENDER OUTCOME TRACKING
Effective tender outcome tracking is often overlooked between the demands of day-to-day operations. However, this oversight can limit your ability to leverage the valuable insights hidden within your tender data.
By analyzing outcomes and aggregating data from country, regional, or global levels, you can reveal broader patterns and gain a stronger understanding of your unique selling points and the factors influencing your success.
Features
Winner Identification
Records the winning bidder for each tender.
Quantity and Price Tracking
Captures bidding and winning quantities and prices for comparison and analysis.
Award Details
Tracks award date, value, product, and the name of the awarding authority.
Additional Information
Includes fields for comments, status, and details per lot, enabling granular tender analysis and comparison of components within a single tender. .
FAQ
Q:
1. Who can benefit from Cube RM?
A:
Cube RM empowers Life Sciences and Healthcare organizations of all sizes involved in the public tender bidding process. Whether you’re a small biotech startup or a large pharmaceutical company, our platform streamlines tender discovery, provides valuable insights for informed decision-making, and helps you optimize your bid strategy for increased win rates.
Q:
2. How does Cube RM analyze tenders using AI?
A:
Cube RM leverages Large Language Models (LLMs) to analyze tender documents in multiple tender sources and languages. These advanced AI models understand the key details of healthcare terminology and tender requirements. This enables them to extract crucial information, identify relevant opportunities, and automate tasks with human-like accuracy. This comprehensive analysis ensures you have all the relevant data at your fingertips to craft winning bids.
Q:
3. What kind of insights does Cube RM provide through Tender Central?
A:
The Challenge: Finding and analyzing relevant tender data can be time-consuming and difficult. Tender Central solves this by:– Aggregating Tender Intelligence: Access all relevant tender information from a single, user-friendly platform.
– Personalized Insights: Easily discover tenders tailored to your specific needs and portfolio with just a few clicks.
– Forward-Looking & Historical Data: Gain insights from both upcoming published and anticipated tenders, as well as historical data on winners, awarded values, and award criteria.
– Competitive Intelligence: Uncover key information about major tender buyers, competitors, awarded values, and award criteria specific to your market and portfolio.
Q:
4. How does Cube RM’s tender discovery process reduce “noise”?
A:
Our AI-powered healthcare & tender-specific DeepDive search, goes beyond simple keyword matching.– Deep Dive Technology: This advanced technology analyzes tender documents using healthcare-specific criteria and tender requirements.
– Focus on Relevant Opportunities: By filtering out irrelevant information, Deep Dive ensures you see only the most relevant public and local tender opportunities for your business.
– Extract Hidden Details: DeepDive can even extract crucial details like award criteria, specific requirements, and lot details often buried within tender documents (dosage, form, strength etc). This helps you make informed decisions about tender qualification.
This targeted approach saves you valuable time by eliminating irrelevant tenders and focusing on the ones with the highest potential for success.
Q:
5. How does Tender Pricing Guidance help me find the optimal price to bid?
A:
Tender Pricing can be complex, especially with limited competitor data. Cube RM’s Tender Pricing Guidance helps you overcome this challenge by leveraging AI to:– Simulate Pricing Scenarios: Test different pricing strategies to identify the optimal price point that maximizes both profit and your chances of winning the bid.
– Analyze Competitor Data: Gain insights into potential competitor pricing strategies based on available data.
-Win Probability Calculations: Calculate your win probability at different price points to make informed bidding decisions.
– Guided Process: Tender Pricing Guidance walks you through the process step-by-step, providing checklists and relevant information at every stage.
This comprehensive approach empowers you to set competitive and profitable prices for your tenders, ultimately increasing your chances of success.
Related Resources
CASE STUDIES
TENDER MARKET INTELLIGENCE
23/05/2023
ARTICLES
TENDER MARKET INTELLIGENCE
TENDER MANAGEMENT
19/05/2023
Don’t Just Tender, Conquer!
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