The proof of the pudding is in eating. Isn’t it? Simply speaking, the best way to understand how a product functions, or how it will fit in your needs is by understanding how it has been used by different industries or companies. How did they put the product to use in their setups? 

Let’s first understand what BidAssist does 

BidAssist.com helps you truly unlock the value of tendering histories for your purpose even when the data sets are vast, massively diverse, and entangled across 7K+ authorities. As they have mapped, parsed all relevant information pieces from within tender description, NITs, BoQs, BOQ comparative charts; and have structured a lot of unstructured/different templates irrespective of the authority. They can easily query vast amounts of tender documents, about 40L+ at the last count to the extent of mapping even use cases like final bid evaluation criterion as QCBS, QBS, LBS, turnover criteria etc. 

Handling large sets of data is a daunting task even for large companies, as it involves a lot of cost, finding talented resources and of course the huge amount of time spent in doing a lot of R&D to get to the right solution. 

So BidAssist built a market intelligence open API platform using 4 pillars:

  1. Power of AI/ML & skilled resources: At BidAssist’s AI/ML Center of Excellence –  their skilled experts crunch huge amounts of tender documents going back to multiple months, even years and and sieving and sorting over 50 filters to make sense out of that huge pile of scattered data. Simply put – the BidAssist team puts Method in Madness to manage the mammoth sized tender data 
  2. Depth of data: By making available the required tendering history for specific categories, keywords & products
  3. Data vastness: Using huge data bank of past 6-8 years 
  4. Geographical specificity: Managing the data for specific geographies not just in India but even globally 

We will now talk about a few select case studies that have been picked from various different industries like healthcare to manufacturing and how these companies have benefited by using market intelligence.  

Case study of Steel manufacturing giant:  

A multibillion dollar steel manufacturing giant wanted to fetch all relevant tenders based on their 20 flagship products mentioned as full names, synonyms, competitor mentions, BIS mentions and then filtered with estimated value of the material requirements in specific locations and in a defined time period to power up their institutional sales teams. When they reached out to the BidAssist support team with their requirement, BidAssist’s dedicated Market intelligence team was quickly able to offer the intelligence data they were looking for. This steel giant even synced the archive data to build competitive intelligence & build hypotheses w.r.t their losses.

Case study of global Healthcare giant:

A Healthcare giant wanted to have an in-depth understanding of competitive bids for hundreds of specific products within the last 5 years of tendering activity like 3D anatomical mesh, ablation catheter etc. They leveraged BidAssist’s REST APIs to fetch 40+ fields based on relevancy. In this case, BidAssist’s AI/ML logics look into the NLP powered parsed data to match relevant tenders. Once identified, all required fields are fetched by the client’s data science teams, for deeper analysis and deciding on the pricing strategy. 

Case study of Plywood giant: 

A plywood giant wanted to know relevant tenders based on their IS product code mentioned within BOQs & NIT, along with estimated requirement of number of doors, tender value, tender location etc. BidAssist returns all relevant tenders and bidders, who had participated in a defined time period with contact numbers, for the client to grow their business. 

Summary

These are only a few examples amongst many of the large and medium sized organizations/companies that are trusting the market intelligence product by BidAssist, to build their own business intelligence and competitive advantage to stay ahead and generate more business. If you are also keen to explore this product, just get in touch with the BidAssist support team with your requirements and they will direct you to the market intelligence team for a solution.