Digital bid board expedites project bidding, saves time, reduces errors, and increases collaboration and helps you win profitable bids.
Nowadays, construction firms are bidding on more projects but winning only a few of them. Most contractors rely on email calendars, whiteboards, and Excel spreadsheets, which need to be revised and may result in task and data duplication. Furthermore, you are likely to miss an upcoming bid deadline, submit some data, or work with outdated information.
In today’s global business environment, construction firms require an integrated and collaborative solution that streamlines the bidding process, saves time, reduces errors, and increases collaboration on suitable projects to ensure success.
Real-time bidding is becoming increasingly popular, and preconstruction teams can use a Digital bid board to identify key market opportunities, manage bids more efficiently, and win more profitable projects. A company can maintain and grow its business using a digital bid board and build a stock of lucrative projects in its portfolio.
Digital bid board is an automated bid board that enables construction companies to track, coordinate, and manage the bid pipeline easily. With increased visibility, the companies can review project details, search plans, and specifications and identify the right bidding opportunities to take decisions that ensure profitability.
Benefits of digital bid board
Look at some of the benefits an estimating team will reap from using a purpose-built digital bid board to track and manage your bid pipeline.
Single source for all bids and documents
Digital bid boards create a central hub for all your notes, documents, upcoming events, and bid dates in a single place. Traditional methods of bidding use spreadsheets or whiteboards to manage the bidding opportunities, which means contractors have to constantly refer to the email for updates, specifications, plan sets, and project documents. Streamlined bid details in the Digital bid board helps you not to miss out on any important information or events.
Better collaboration
Construction companies are using digital bid boards for effective collaboration of their teams on bid management. With bid boards, the pre-construction teams can easily assign tasks to estimators and send updates on bid dates and upcoming tasks. Members can share bid notes and deadlines with those connected to the same bid board. The feature allows collective reviewing and selection of the most-promising bids.
Make managing your bids simple and easy
Usually, bidding or tendering is a manual, process-driven activity that needs time, effort, resources, costs, and involvement of top talent. A Digital bid board provides an automated bid or tender management system. It is a common portal to bid owners, bidders, and an evaluation team to collaborate and manage a successful bid lifecycle.
Faster turnaround
A digital bid board allows contractors to customize and create efficient workflows to bid smartly. It provides a clear picture of new bids, those under review, and those the company has won. Contractors can select and sort projects and efficiently move from receiving a bid invite to reviewing project details and documents.
Minimal room for human error
Manual copying and pasting are both time-consuming and error-prone. Managing the bid pipeline with whiteboards and spreadsheets may result in countless hours of manual entry of new bids. A digital bid board can assist you in centralising all of your bid invites and associated documents. Contractors can instantly notify other stakeholders of their bids because all documents are readily available on the bid board.
Constant access to the latest information
Using whiteboards and spreadsheets may result in omitting critical information, as manual updating is error-prone. Furthermore, by the time you update the manual bid board, the information may be out of date. On the digital bid board, all updates and new data are made available in real-time. Also, you get access to the most up-to-date project information, allowing you to make informed decisions.
Enhanced bid-hit ratio
Companies have varying bid-hit ratios, so estimating and targeting high-priority projects becomes difficult. With a digital bid board, you can view the project you have bid on, you have won, and you can easily win. Calculating and tracking your bids becomes much easier with all information available on the bid board. It is also simple to determine your bid-hit ratio, prioritise and target projects with a high likelihood of success.
Transparency
With stakeholders on the system, and all documents on the bid board, the process becomes more organised and transparent. The bid board simplifies tracking all projects at any stage of the bidding process. As a result, no one wastes time looking for spreadsheets, folders, and information pertaining to all the bids.
Digital bid boards are end-to-end bid management process solutions that help companies gain a competitive advantage over their competitors. It provides a pre-emptive, structured, and consistent strategy for qualifying opportunities and securing more business via bidding.
