As we move further into 2023, businesses are likely to face a number of challenges when it comes to tenders. Here are the top four tender challenges that businesses may face this year, along with how Brainial technology can be used to address them:
2023 could potentially become one of the worst economic years in three decades, according to calculations by Bloomberg Economics. However, the number of tenders available is likely to increase. This can be a good thing for businesses, as it means more opportunities to secure contracts. However, it can also be overwhelming, as businesses will need to keep track of all the different opportunities and assess which ones align with their capabilities and resources. Above all, the workload increases for tender teams. Brainial technology can help businesses stay organized, qualify tender opportunities faster and better, and ensure that less time is spent reading through and analysing documents.
The labour market is expected to remain tight in 2023, which could be a challenge for businesses looking to win tenders. In a tight labour market, it may be more difficult for businesses to find and hire skilled workers for the tender team(s). This could be a particular concern for small businesses that may not have the resources to compete with larger companies for top talent. With Brainial Tender Alert, tender teams spend less time searching for relevant tenders. Also, with the use of Brainial Tender Assist, tenders can be assessed >50% faster with our all-in-one AI-based solution. Existing tender teams can be more productive with the same number of people on the team.
Data is becoming increasingly important in the modern business world, and businesses that are not using it effectively could be at a disadvantage when it comes to winning tenders. Many businesses are having trouble finding bits and pieces from historical tender information, and have an outdated tender texts library. By using Brainial Tender Assist, each piece of text and paragraph is classified and labelled. All historical tender content and documents have been made fully searchable, both literally and in the context of the keyword. Using bits and pieces from your tender responses from the past could help you in speeding up your bid response and use it as a starting point to describe how you understand the customer’s need and how you uniquely can solve the customer’s problems.
In an increasingly digital world, the use of artificial intelligence (AI) is becoming more prevalent in many industries. Businesses that are not using AI technology could find themselves at a disadvantage when it comes to winning tenders. By leveraging AI to qualify faster, improve efficiency, and make better-informed decisions, businesses can improve their chances of success in the tender process. Brainial offers all-in-one AI-based solutions to easily find, qualify, assess, and respond to tenders faster than ever before.
Overall, these four challenges could make the tender process a daunting task for businesses in 2023. However, by adopting AI technology and using data effectively, major efficiency gains can be made, and businesses can increase their chances of winning a tender and securing a valuable contract. Want to know what Brainial can do for your business? Get in touch with us.
