A “formal request” can look different depending on the type of opportunity. For example, a quotation is a tender opportunity, which is a more simple request than a Request for Tender, which involves more complicated documentation (like conditions of contract, the scope of works, e.t.c.).
Types of opportunities are:
Even though they're all called different things, all the types have similar characteristics. The tender documents will typically include a description of the requirements and needs and request the supplier’s experience, capability, and capacity to supply goods or services. In most cases, the supplier also will need to identify their price or value.
The Buyer will ask for responses from more than one organisation and then evaluate and accept the one that meets their needs and offers the best value for money. Once the Buyer has selected a supplier, the Buyer awards the contract to the successful tenderer!
The tender process is used in hundreds of industries, including:
Tendering is often used by local, state and federal government organisations. Government policy dictates that the tender process must be used above a certain financial threshold, which varies from state to state and ranges from $150,000 - $200,000. It is also used by private companies, which means you could miss substantial work opportunities!
Tendering can be a fantastic way to ensure your company stands out in a crowded marketplace. Once you begin responding and winning, your experience and network will grow, giving you even more opportunities for work.
With recent Buy Local policies implemented in various states across Australia and improvements to procurement regulation, the market is looking better and better for small-to-medium businesses.
However, the procurement process can be overwhelming. With hundreds of pages of documents and limited time to prepare a response, we know it can be disheartening to get started. Plus, tender questions can be confusing to understand, and the cost of responding comes from the supplier’s back pocket. That’s why companies like Australian Tenders exist, to try and make the process as easy as possible for businesses like yours!
That’s really only a question you can answer. Ask yourself these questions:
If the answer is yes to these two questions, you’re ready to start your tendering journey!
Once you’ve decided you want to start tendering, it’s time to see what opportunities are out there for your business. We have over 600 categories related to specific industries that you can search through. Using our search function, you can see precisely how many opportunities have been released in your area and what type of opportunities are coming out.
This is also the perfect time to review awarded tenders to understand which your competitors have won and review future tenders to know what opportunities will be released soon.
Australian Tenders can help you find out whether there are opportunities in your industry. Tenders can be challenging to find, so feel free to reach out to our team, and they can assist you in looking for work that may be related to your goods and services.
Once you know there are opportunities relevant to you, it’s time to start preparing:
When you begin looking at tendering as a step-by-step process, it becomes much more achievable for your business. While there’s lots of new lingo and procedures to learn, the opportunities procurement provides for your business can far outweigh the pressures and resource costs to get there.
It’s important to remember that you’re not alone. Thousands of small-to-medium businesses across Australia and New Zealand are breaking into the procurement world, and companies like Australian Tenders can help you get there.
So, let’s get started on your tendering journey! Start browsing our categories to see what opportunities are out there for your industry.