Do you know that most business units or businesses that are focused on bidding business of government tenders typically rely on a conventionally run informal information gathering system through government departments via either in-house liasoning teams or liaison agents. But this is becoming obsolete as the government departments in India are becoming more transparent thanks to the technological advancements and various government focused initiatives making more and more data to be made available online.
Do you know that most business units or businesses that are focused on bidding business of government tenders typically rely on a conventionally run informal information gathering system through government departments via either in-house liasoning teams or liaison agents. But this is becoming obsolete as governments across the world are becoming more transparent thanks to digital initiatives.
Now even though the government departments have been becoming transparent & are now publishing lot of tender information; be it the new tender releases or tenders result announcements, but making sense of large volumes of data would mean gathering unstructured information from thousands of sources across the globe or locally before the companies could even start to align their in-house teams to run detailed analysis for various important business scenarios like pricing strategy, identifying partners, identifying large product categories or identifying large business trends etc.
As a reference for size of data, BidAssist.com sources 5 Crore (50mn)+ tenders from 80K+ sources globally. You will find that there are typically ~150,000 active tenders in India and then another ~350,000 active tenders globally on BidAssist. It is by far the largest source of tenders, which is categorized into 50+categories. In addition there are 76 Lacs (7.6 mn) tenders results in India and 42 Lacs (4.2 mn) tender results globally. Its entire content database is more than double of any other leading players available out there in the market.
Issues in handling large size government data
Data-driven modernization can be really daunting, not only for SMEs but even mid or large organizations as that requires another level of cost and resource alignment and allotment along with time of course that will be required to build those systems. As much as an organization wants to make informed decision making, the cost of building and operating a data analytics team is high.
But having said that, it is possible to break down the large program into smaller programs and assess if there is part information that can be made available swiftly & accurately. This would still mean building a deep understanding of the government tendering portals, publicly available information, understanding different information structures for a given relevant authorities etc. An activity which requires an organization to have that kind of talent pool and resources dedicated to only this activity.
What is the solution to get market intelligence on government tenders to grow your government contacts business manifold?
BidAssist.com, which is the world’s leading tender search platform, not only restricts its services to world class tender search engine, more than that it can power up your business intelligence teams by making available the required tendering history for specific categories, keywords, products in past 5-8 years for specific locations within & even outside India.
In case your enterprise/SME is not that large enough to have an in-house team of data scientists who can run detailed analysis, BidAssist can power you up via its AI Center of Excellence – where it has the skilled experts who apply descriptive, predictive and prescriptive solutions to all types of business challenges and generate key insights & recommendations specific to your business needs. BidAssist’s enterprise customers are specifically on the lookout to power up their market intelligence teams by understanding competition bids in order to make sure that they bid for the right tender, at the right value or recommend the perfect opportunity based on their profile.
BidAsssist 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
BidAssist typically extracts 45+ fields using NLP & ML and normalizes into a single schema across 52+ categories so that you can use that information readily for your market intelligence purposes. It’s off the shelf APIs allows real time information sync for clients who want to power their data science teams.
What does this mean for you as an enterprise/SME?
It basically means that you can use this information to help your company identify the potential buyers, partners, suppliers, project financiers, and build your competition intelligence by finding vital insights that are hidden in this data. Now even if you don’t have an in-house analytics team, you just need to connect with BidAssist’s solutions team and they can help you identify & propose the right solution for you.
In nutshell – modernize your approach to data-first and power up your business development team with real-time insights for smarter decision making to help you expand your business, and always stay ahead of your competition.
So get solid recommendations to expand your business with the government, with BidAssist’s advanced AI logics based on your interest areas & geographies from within a 4 Crores+ tenders database – all of which is available on BidAssist.com. To connect with the solutions team, just share your query with the BidAssist support team, and they will promptly.
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