The use of bid forms minimises budget overruns and systematically reduces project pricing, by leveraging the invaluable information locked within each of these past bids, which is collected and stored on the database.
Clear scope of works
Whether digital or static, the use of bid forms in tenders helps generate better quotes from bidding service providers. It makes the project scope clearer and gives the bidder a starting point to structure their bid.
Following successful completion of bid forms, the results are easier to compare due to the quotes being provided in the same logical format. This significantly reduces the volume of manual work associated with the later stages of the process, which is easily prevented by simply dedicating a bit more time and care during the tender phase.
Digital bid forms provide several additional benefits in comparison with static forms. In receiving all the separate line items through the system, the detailed information can be analysed, stored and subsequently used in future projects. As a result, there is a considerable amount of information regarding project cost emanating from this new way of working.
Additionally, when bidders come back with suggestions on the project, digital bid forms can be easily updated and reissued to all invited bidders. This centralised way of working benefits all parties involved in a project.
More accurate quotes
The bid form functionality is divided into separate chapters, such as demolition works, finishes, construction, installation, façade works, etc. Each chapter is then broken down into different line items. It is possible to provide quantities and units, which makes it easier for the bidders to use the correct amounts.
In addition, to the core chapters of the bid form, further chapters can be included such as preliminaries, hourly rates, overheads and profits, providing greater insight into the details of a calculation.
Service providers can provide suggestions to the project and relevant processes by making use of the more general chapters: additions, alternates, exclusions and suggestions. This provides asset and property managers with much more confidence, necessary to make the decision on which company to award the works to.
Finally, users are able to issue bidding requirements and request certification from service providers, as well as providing a detailed time schedule, which bidders must agree and adhere to in the tendering phase. You can leave detailed comments for each line item, giving explanations and further details through the form. This provides clarity regarding the project scope, which ultimately results in a decrease of budget overruns. Bidders are able to interact and respond through this interface, once again resulting in more centralised communication and information flows.