WHAT DO BID MANAGERS LOSE SLEEP OVER?

Get to know what are the challenges and speed-breakers for the bid management community. And of course, what will ensure them a good night's sleep.

Well, apparently, it is – “I will have to do one more revision of the pricing just to check all dependencies have been taken care of”. Pricebid invited representatives from B2B turn-key solution providers to identify key challenges in the “Bid Pricing & Approval” processes.

And what did we find …

Highlights:

1. The second most common factor which keeps Bid professionals awake is – “Hope no one revises their pricing before the bid review tomorrow.” Literally!

2. Developing the multiple pricing/margin scenarios topped the list when asked, “Which is the most time-consuming part of developing the pricing bid?” with 69% of the respondents voting for this option.

3. Synchronizing the pricing received from internal/external teams received 73% votes when asked, “which is the most labour intensive part of the bid pricing process?”

4. When asked, “which is the least productive part of pricing analysis?”, there was a tie between – No comprehensive repository of bid documents and Limited analysis of previous bids.

5. Over 81% responded that bid approvals in their organisations are still done over voice calls and/or emails.

Top-5 things which would make their life simpler .. give them a good night’s sleep

• Pricing simulation

• Excel integration

• Bid related analysis

• Version control

• Cash-flow preparation

The respondents varied from industries such as EPC, IT/ITES, Professional Services, Chemicals, and Healthcare.

Comments and observations welcome at hello@pricebid.co.