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Public tenders can often be difficult to understand, however, once you’ve gotten your head around the process, it opens up opportunities for your business to secure contract opportunities that can boost your profit and exposure.
Public tender definition
A public tender, sometimes referred to as an open tender or competitive tender, is a system in which any public sector organization who requires goods, services or works publicly advertise this need in order to encourage businesses to compete for the contract.
Public tenders only open when the contract offered is of a high enough value and healthy competition is encouraged as companies compete against each other and bid for the contract.
The public tender system is an important one as the government has a duty to be transparent with the way in which they procure their goods and services. This gives every company an equal chance to win contracts. These contracts are based on both price and quality of the goods, services, or works.
Why are public tenders important?
In Canada, the public sector leverages procurement in order to ensure an efficient, economic and judicious use of the government’s resources and guarantee that public procurement is carried out in a transparent, fair and non-discriminatory manner to benefit the public.
Public tenders are a great way to boost employment as well as growth and investment since businesses of all sizes are welcome to participate. It makes it possible to develop economies that are more socially-inclusive, innovative and resource efficient. In societies, quality public services depend on efficient and well-managed procurement processes.
How does the tendering process work?
Here is a brief run down of the tendering process :
1. Identification requirement
The first step is for the public sector body who is sending out the tender to properly identify what it is that is needed. They are responsible for justifying the advertisement of the tender to ensure that no one's services are taken advantage of.
Those creating the tender can prove the need for the goods/services/works by carrying out a study which consists of multidisciplinary members who can all assess the situation and vouch for the need of the tender.
2. Contract notice
Once the company public sector body has been able to prove the need for the supply, goods or works, they can then advertise the need. The Contract Notice details all the necessary information and specific requirements that businesses need to know in order to determine if they are the right fit for the job and decide whether they should bid for the contract opportunity or not.
This is where the terms of the contract are outlined and the invitations to tender are extended to the public. Qualified bidders are welcomed to begin bidding and the competition to win the tender begins. If you are interested, you must ask for full access to the terms of the contract and ensure you are eligible.
3. Create bid
If you’ve confirmed you’re eligible, you then have the opportunity to put forward your bid. On average, anyone that wants to submit a tender proposal will have a four-week window to draw up their bid. The bidder will evaluate what the buyer is looking for and will assess the contract’s worth which will inform the size and terms of the bid.
The public sector team will then look over all the proposals and allow those with the strongest proposals to go through to the final stage of the public procurement tender evaluation. The ones that get through to the final stage of the public procurement process, are ranked from highest to lowest, with the highest being finally awarded the tender.
Where can I find public tenders?
Public tenders present a great opportunity for businesses because if they are chosen for the tender, it provides them with a constant stream of work. Most tender contracts last at least three years.
Whilst there are websites that allow you to search for tenders, they are often difficult to navigate. Moreover, there are tenders in a multitude of different sectors so finding ones that are specific to your business might be difficult.
Thankfully, with Aloha Tenders, you can browse and filter public sector procurement opportunities in your specific sector and region. Our platform powered by artificial intelligence continuously improves the precision of your search to prioritize the best opportunities for your business.
Aloha Tenders’ huge database allows you to see all public tenders available in both the Canadian and American markets. Moreover, if you do not have the time to search for tenders, you will receive daily summary emails of the most relevant tenders for your business.
If you are looking for an innovative and dynamic way to find tenders, Aloha Tenders is the solution you’ve been waiting for!