Quantity surveying tenders are a great way to secure new business opportunities and contacts. Making sure that structures meet both quality, compliance and legal standards is an essential part of the construction process. Now more than ever there is a need for cost control and estimation within the construction sector.
But how easy is it to access these new opportunities? What is the importance of securing a pipeline? In order to know more about this, it would make sense to start with the basics.
The most obvious question to start with is “what is a quantity surveying tender”. In a nutshell, tendering is one of the best ways to win new construction contracts and secure a pipeline of work. It is becoming increasingly difficult to find new contacts and keep current clients interested. Quantity surveying tenders offer a convenient solution to this common problem.
A tender is an invitation to submit a bid in an attempt to be part of a project. Buyers often have projects to complete where they need to outsource a quantity surveying role. Perhaps they don’t have the capacity to complete this in-house or have had to cut costs. Either way, there is a role which needs to be filled. Quantity surveying tenders are an effective way to go about this.
There is often a document released which details the needs of the buyer from the supplier.
From here, suppliers will be expected to provide the information required for the buyer to assess their suitability. Buyers can then evaluate all the bids they have received and decide on a preferred supplier.
There are so many benefits to tendering, it’s hard to know where to start. So, here are our top 3 benefits of tendering for work:
Arguably, the biggest reason why businesses turn to tendering is to secure new contracts. As every business owner will know, the key to a successful business is building relationships. Similarly, as a quantity surveyor, liaising with clients to identify their needs will be second nature. Without having access to these vital connections, you may not get a steady stream of work. This can ultimately result in your organisation’s decline.
We are living in a world where face to face meetings and word of mouth business is on the decrease. So, how are we, as businesses, expected to grow and secure new contracts?
Quantity surveying tenders pose an ideal solution. Having access to tenders can help build relationships with new clients. Even better, these clients are likely people who you would otherwise not have had access to. From here, there is an opportunity for inter-trading and collaborations. This will ultimately create an even more mutually beneficial relationship between yourself, as the supplier, and the buyer.
Continuing from this, many quantity surveying tenders call for a certain level of experience and case studies. Once you have worked with one buyer, and then have access to their contacts, the process will become significantly easier. From here you will have ample case studies and contract examples. This will result in a level of ease when securing contracts to build your pipeline of work.
The idea of a fair process is perhaps a more underrated benefit of tendering for work. Public sector tendering is well known for its structured process. This in itself has a range of benefits. Having a contract with terms and conditions, and a clear scope of work makes the process a lot easier for suppliers. In order to release a tender, buyers have to do a lot of prior research. Start and end dates need to be clarified, budgets need to be signed off etc… Automatically suppliers will know if they are suitable for the work.
Public sector buyers, and private buyers with higher budgets, are required by law to issue an “invitation to tender“. This is because tendering creates a fairer process. Buyers have to be clear about their value of price vs quality. There is no chance of a buyer spending their budget inappropriately. Similarly, there is a decreased risk of nepotism when awarding contracts. The evaluation criteria ensures the most suitable business will secure the contract. Public sector buyers have to be even more transparent as they are dealing with tax-payers funding. Ultimately the tendering process has to be fair and transparent as this information will be released to the public.
Now onto the all-important pipeline. Tendering allows you to filter projects based on your preferences. Often when businesses rely on word of mouth, you can end up accepting contracts that aren’t suitable for your business. This can be out of fear there won’t be another opportunity that comes up. It can also be to keep a strong relationship with that business. With tendering this isn’t a concern. You will find a whole range of quantity surveying tenders at your disposal.
It’s important to note we aren’t suggesting you will win every contract you bid for. However, by having more choice you can effectively build a pipeline of work.
What we mean by “a pipeline of work” is that you will have a steady stream of work coming in. It may be very tempting to go for all the contracts which will have immediate benefits. Perhaps contracts with shorter durations where you will receive the money relatively soon seem more appealing. However, it is vital you know when one contract finishes, you have another waiting in the pipeline.
Here are some things to consider when building your pipeline:
Tendering for work as a smaller business can sometimes feel daunting. It may seem as though contracting authorities are only interested in big suppliers with years of contract examples. However, this is certainly not the case. The UK government has a target to help SME’s. Their target is to spend £1 in every £3 on SME businesses. This means that public sector buyers are actively seeking out smaller organisations to work and establish relationships with. Don’t price yourself out of the public sector market!
The next logical question to ask is “where can I find tenders?”. Like most businesses, you probably don’t have the time to go through 1000+ sites every day. It can be hard work knowing where to find quantity surveying tenders. Well, luckily for you we have a solution.
Construction Tenders is an opportunity tracking platform. We source all the tenders from across the UK and upload them in one central place.
A subscription with Construction Tenders offers you:
Once you’ve found the perfect quantity surveying tender, how can you secure it?
Look no further than Hudson Succeed. Our team hold an 87% bid success rate. Last year alone, they secured direct contract wins totalling over £300million for our clients. They thrive in creating bespoke packages to suit your business needs.
Here are some examples of the services they offer:
The best way to venture into the tendering world is through booking a free live demo of Construction Tenders.
We actively source construction leads and tenders for the following sub-sectors:
Contact us today to find out more about how Construction Tenders can help your business.