How to select the right tender management software
Updated: Mar 23
As a business owner, you know that managing tenders can be a time-consuming and complex process. Fortunately, there are many software solutions available to help streamline the process and make it more efficient. However, with so many options on the market, it can be difficult to know which one is the best fit for your business.
To help you make an informed decision, here are five steps to follow when choosing a tender management software:
1. Identify your needs
The first step in choosing a tender management software is to identify your business’s needs and requirements. This will help you narrow down the options and choose a solution that will meet your specific needs. Consider factors such as the size of your business, the number of tenders you manage, and the type of tenders you typically handle (e.g. public sector, private sector, international).
2. Research your options
Once you know what you’re looking for, it’s time to research the different software options available. Look for solutions that are specifically designed for tender management and read reviews from other businesses to get a sense of which ones are the most popular and effective. Large players in this area are Coup and SAP Ariba. If you're looking for something more pragmatic and affordable, Valcori is globally considered a low-entry option.
3. Compare features and pricing
When comparing different tender management software solutions, be sure to look at the features they offer and how they align with your business’s needs. Some common features to consider include the ability to create and manage tender documents, collaborate with team members, and submit tenders online.
In addition to comparing features, be sure to consider pricing. Most tender management software solutions offer different pricing plans, so be sure to choose one that fits your budget and meets your business’s needs.
4. Test the software
Before making a final decision, it’s important to test the software to see how it works in practice. Most companies offer free trials or demo versions of their software, so be sure to take advantage of these opportunities to see how the software performs and whether it’s a good fit for your business.
5. Get feedback from your team
Finally, once you’ve narrowed down your options and tested the software, be sure to get feedback from your team. After all, they’re the ones who will be using the software on a daily basis, so their input is crucial to making the right decision. Ask for their feedback on the ease of use, the features, and overall effectiveness of the software.
In conclusion, choosing a tender management software doesn’t have to be difficult. By following these five steps and carefully considering your business’s needs, you can choose a solution that will help streamline the tender process and make it more efficient.
Valcori is an online platform designed to assist procurement organisations with limited resources. It allows you to quickly set-up tenders and invite suppliers without the need for complex procedures and tooling.