The key stages of work winning are a series of interlocking steps; phases of a process and links in a chain. Every stage must work, or the bid can’t succeed. In the heat of multiple tenders being submitted, and a fragmented working environment, the average rate of success for bid submissions is 1 in 5; a result which can improve significantly when monitoring and managing each of the interlocking steps.
As various stages become more reliable and provide an increase in confidence, other key steps that might fail, become an area that is no longer left to worry about. So, if you are not measuring and monitoring all the essential steps, stages or phases that can fail, then winning the bid becomes dependent on potentially the weakest link.
Digitalisation strengthens the chain.
There is now an immediate solution to the weak links in the new-found power of data and cloud based analytics. By digitising your entire work winning process, your bid team’s dashboards can easily identify how to exploit creative strengths, address weaknesses and achieve comprehensive bid productivity growth. Our cloud based collaboration tools developed in myConsole increase the scope for what is possible, and ensure that improvements don’t happen by accident. Once this improvement is managed, the results can be delivered every time, and failure drifts into being a thing of the past.
In a bid scenario, it really doesn’t matter if everything else is working well; one weak area results in failure. This management concept is called the “O” Ring Production Function, and a metaphor derived from the Challenger space craft crash, that took the lives of seven astronauts.
Whilst a failed bid clearly doesn’t have such an earth shattering impact, I draw a parallel purely because an average bid takes 350 man hours and costs typically £50k (see this link to our research with Reading University). Let us bear in mind also, that an average business unit needs to process 5 bids to win one. If you capitalising on marginal gains concepts across your entire bid process through monitoring and measuring each critical step, stage or phase then you don’t know where your weakest links are. Making this change will be critical to business growth and potential.
Call the myConsole team on 0330 365 0110, to discuss how to digitise your bid cycle.