Bid teams are the backbone of organisations when it comes to securing new opportunities. However, an eye-opening McKinsey report reveals a startling truth – employees in bid teams spend only about 40 percent of their time on their primary role-specific tasks, such as bid writing. The remaining 60 percent, equivalent to a staggering 24 hours per week, is lost to unproductive endeavours that don’t add value to the organisation.
If this inefficiency sounds all too familiar, you’re not alone. Many bid teams struggle with poor communication and collaboration infrastructures, which directly impact their productivity. The result? Bid teams running at a mere 40% efficiency, leading to the production of bids that cost more than twice as much as their efficiently managed counterparts. This not only compromises the quality of the end result but also limits the number of opportunities the team can pursue with a finite bid budget. In contrast, an efficient, highly collaborative organisation can bid for twice as many opportunities with the same resources.
So, what are your bid team employees doing with their time, and how can you revamp internal processes to boost productivity?
Reading and Answering Emails — Reclaim 28% of Time (1.5 days per week):
Communication is undoubtedly vital, but long email chains and repetitive conversations devour precious time at work. Streamlining internal communication is key to driving productivity. An ideal bid management collaboration software solution will shift your bid team away from email dependency, demolish information silos, and foster easy collaboration across departments, joint venture partners, suppliers, and geographical areas. Look for a platform that goes beyond mere knowledge management, enabling seamless communication and minimising the need for repetitive email exchanges.
Searching and Gathering Information — Recover 19% of Time (1 day per week):
Employees often spend nearly 20% of their time searching for internal information or seeking assistance from colleagues. This wasted time accounts for a full workday each week! To overcome this challenge, your organisation needs a knowledge management strategy that not only stores company information but also provides an intuitive interface for quick and efficient retrieval. A comprehensive solution will offer a digital information hub containing all your bid data, easily accessible to those who need it, when they need it. With the right solution, value-added time can increase by 5.5 to 6.5 percent, while productivity improves by 30 to 35 percent.
Communicating and Collaborating Internally — Reclaim 14% of Time (0.5 days per week):
While access to company information is crucial, the true magic happens when your team communicates and collaborates effectively on how to use that information. Without a collaboration solution in place, employees spend up to 14 percent of their time asking redundant questions and taking up their team members’ valuable time. This wasted time significantly impacts overall productivity. A bid management solution equipped with collaborative features can enhance productivity by 10 to 15 percent. Marketing, sales and bid teams can collaborate seamlessly from the early stages of the sales pipeline to final bid production, ensuring bids are compelling and tailored to the client’s exact needs. The platform can also facilitate efficient collaboration among part-time bid team members from various functional departments, consultants, partners, or suppliers.
The Scale of Opportunity:
The costs associated with bid production can be substantial, contributing significantly to a company’s overhead. Consider this: A typical bid team of six individuals working on a bid for six weeks could achieve substantial cost savings with a 20% efficiency gain:
Total Inefficient Bid Cost: 6 people x £40 per hour x 40 hours/week x 6 weeks = £57,600
Cost Savings for 20% Efficiency Gain = £11,520
Cost Savings for 40% Efficiency Gain = £23,040
These savings can open doors to bidding for more opportunities, leading to increased work won. Moreover, a well-organised bid team will produce more compelling and competitive bids, further boosting the win rate.
The Advantages of Using a Bid Management Application:
By adopting a well-designed bid management application, crafted by experienced bidding professionals, your organisation can expect to:
- Increase team efficiency and reduce bid costs.
- Improve team communication, mitigating frustration.
- Minimise rework, providing more time to produce compelling responses.
- Boost evaluation scores and enhance the bid win rate.
Are You Ready to Enhance Bid Team Productivity?
The BidBase, a seasoned bid support consultancy, has recently launched Bidflo, a cutting-edge bid management application. Bidflo serves as a single tool to efficiently organise and manage your bid data, information, and bidding activities while seamlessly integrating bid teams across departments, companies, and geographical boundaries.
Bidflo empowers your sales, marketing, and bid teams to manage work-winning activities in a coordinated, consistent, and efficient manner, maximising your probability of success while optimising budgets.
Isn’t it time to propel your bidding process to new heights? Learn more about Bidflo here and experience the transformative power of streamlined bidding, propelling your organisation towards unparalleled success!
