The journey so far: Till June 2019
Government Tenders Business is expected to get a big boost over the next 5 years. As per the report released by ICRA in May 2019, the government of India is expected to spend INR 100 trillion on the infra sector, 30% of which will be on improving transportation.
At the outset, this piece of news shows immense value for the SMEs, but it makes real business sense only when the tenders actually get published by one of the 7000+ government authorities.
Based on our understanding, most SMEs still engage with just a handful of government authorities or portals, thereby limiting their chances for business expansion. It requires significant effort to manage the discovery and bidding process. At BidAssist, our continuous efforts are directed to help the SMEs discover more tenders easily so that they could bid more and expand their businesses.
We are still at a very nascent stage in our journey to aggregate the government tenders value chain, but we are already seeing some very encouraging results. As we ended the June Quarter, we achieved 3 significant milestones
- We are now past the 600K user mark
- We are now consistently adding 100K users/month
- 50%+ of our users are now discovering us organically
A quick industry overview. Take a look at more stats below.
- ~1.5mn eTenders were published in total during the last 6 months. In spite of the fact that the volume had substantially reduced during April & May due to elections but it was possibly compensated with a significant increase in volumes during February and March months previously.
- Maharastra & Uttar Pradesh contributed for almost a quarter of tenders.
- Public Works Departments and Municipal corporations have released the maximum number of tenders i.e. 250K+.
- Of the 4mn Tenders, the majority are under 10Lacs and ~8% tenders have a value of more than 1Crs
based on tenders aggregated over the last 18 months. ~86% of online tenders carry value, rest invite prices which would typically carry high values
Our mobile-first and tech-led approach (80% mobile traffic) has been the key pillar to help us reach these milestones in such a short span of time, with just one-tenth of typical team sizes. Our returning users are at an all-time high, thus reinforcing faith in our approach. More & more SMEs are simply setting preferences based on Location, Tender Amount, Keywords and Authorities to discover latest tenders. SMEs rely on BidAssist to ensure that they never miss a tender. Moreover, the FREE search doesn’t restrict our user on keywords, unlike other services.
If you are a Government Contractor, and still haven’t discovered BidAssist.com, go ahead, browse and search for the latest tenders.
Reach out to us anytime for any clarifications.
1800 102 9586