How to Leverage Raiven's Bid Management Tool

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Author: Brett Knox
November 19, 2024 - 3 MIN. READ

Bid management is the comprehensive process of bidding on a project. It begins with identifying opportunities and moves on to preparing, submitting and tracking project bids, all the way through to initiating the project planning. 

Effective bid management can improve your business operations, control costs, and enhance customer experience. If you’re not already using bid management software, adopting a digital solution can unlock significant time savings and streamline your bid management process. 

Raiven’s Approach to Bid Management 

As a leading digital supply chain network, Raiven aims to deliver tech solutions that make buying easier on top of saving you money. 

Our solutions also include a bid management tool with the following features: 

  • A convenient interface where you can track all your current bids, helping improve visibility across your sales pipeline and enhancing project planning. 
  • With simple bid status updates, you can view the progress of each bid and ensure everything is on track. If you’re not getting a response, you can follow up with the customer. 
  • An integrated bid management solution that works seamlessly with other great Raiven tools, allowing you to switch effortlessly from bid management to purchasing once a contract is signed. You can also generate accurate quotes for supplies with real-time pricing information from the Raiven marketplace. 

What Are the Benefits of Bid Management Software? 

Using bid management software has several benefits for your contracting business. 

Streamline Bidding 

Bidding can be a time-consuming activity with administrative costs. By organizing and tracking all your current bids in one place, you’re enhancing visibility over this process and ensuring nothing falls through the cracks. Plus, modern bidding tools allow you to effortlessly move to the next stage as a bid progresses. 

You can also review your bidding activity, explore trends, and adjust your bidding strategy based on your past performance. 

Easy Bid Creation 

Bid creation is easier than ever with bid management software. You can put together a proposal in a few clicks and submit it to your potential customer the same day. 

Having access to a simple bid creation tool makes you more proactive and can help you win more jobs by responding swiftly. 

More Accurate Bids 

Raiven’s bid management software uses real-time supplier pricing, providing two key advantages: 

  • You don’t have to spend time researching recent pricing fluctuations before coming up with a realistic bid. 
  • Your bids are more accurate and reflect your costs with precision. 

Producing accurate bids helps protect your profit margins and ensures your jobs won’t exceed your budget. You can also be transparent with customers and show them exactly how much you plan on spending on materials and equipment. 

Electronic Bid Submissions 

If you’re going after larger electrification jobs or public projects, electronic bid submission is a must-have feature. 

With electronic bid submission, you can securely submit your proposal to a customer. The bid details can be updated if needed, and you’ll typically get a response much faster, thanks to the electronic format. 

Better Customer Experience 

Using bid management software results in a better experience for your prospects and can help cement your contracting business as a long-term partner. 

Bid management software enhances communication and helps you come up with a realistic proposal quickly, which helps with decision-making for your potential customers. 

Tracking Bid Status 

Bid management software improves visibility over bid status. There are several benefits: 

  • You can move into the project planning phase quickly once a customer accepts a proposal. 
  • If a bid isn’t moving, you can react fast and follow up with the prospect to identify any barriers. 
  • Keeping an eye on the bid status results in better communication with your prospects and can help you gather valuable information about their decision-making process. 
  • You can also learn by tracking bid progression, identifying trends, and using that information to improve your bidding process. 

Auditing and Compliance 

Another benefit of bid management software is that you can easily access all your bidding and proposal records in one place. 

Centralizing your data helps with compliance and makes auditing your buying or bidding process much easier. 

Better Bid Management With Raiven 

Bid management software is a valuable tool for contractors. Besides saving you time, bid management software can help you come up with more accurate proposals to protect your bottom line. 

In a market where construction costs remain high, calculating project costs with precision and submitting realistic bids is crucial. Plus, using bid management software to submit your bids quickly can make you more competitive in this challenging market. 

Raiven offers bid management software, among other tools, designed to help you build a better buying process, including a group buying program that gives you access to discounted supplies. 

If you’re a contractor looking to grow your business, you can win more bids and increase profits by paying less for electrical materials and equipment as well as business essentials. Discover the benefits of participating in a premier purchasing program like Raiven. By leveraging the collective buying power of its members, Raiven secures exclusive discounts on automation controls, panels, conduits, EV charging stations, load shedding, tools, lighting, wire, and more. And there’s no more negotiating with individual suppliers.

Gain access to pre-negotiated discounts of 7%-30% from industry-leading manufacturers and distributors, including Alpscontrols, ChargePoint, EnelX/Juicebox, Ferguson, Grainger, Graybar, HD Supply, Home Depot, Lowe’s, Office Depot, Sunbelt Rentals, Schneider Electric, and more!  

Raiven supports electrical contractors by delivering unmatched prices on equipment, parts, and maintenance supplies. Our user-friendly purchasing platform ensures seamless and efficient procurement processes. Other key benefits:

Raiven is here to help you build better bidding and buying processes. Visit Raiven to learn more about leveraging digital tools to modernize your contracting business.

Summary: Contractors, are you using bid management software? A bid management tool can streamline bidding, result in more accurate proposals, and help you save valuable time.