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Innovation during the COVID-19 outbreak – 3 major improvements

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Market Trends

Innovation during the COVID-19 outbreak – 3 major improvements

Innovation during the COVID-19 outbreak – 3 major improvements

Billions of people and organizations around the globe are being affected by the new coronavirus pandemic. The world of public procurement and tendering is also affected by the Corona crisis. Due to the crisis, it might be much more difficult for bidders to prepare for tenders. Many people work from home, consulting a colleague quickly is more challenging than before. In some industries, the amount of private tenders might go down and organizations will be more dependent on public tenders while the amount of bidders per tender will increase. How do you prepare yourself while organizations have many other top priorities nowadays? Some organizations grasp the opportunity to change or improve things. Is it the right time to improve the tender process?

3 major technological improvements to the tender process

Below you will find 3 major improvements to the tender process which can be started now to prepare your organization for the future.

1. Analyze Tenders Automatically

Spend less time reading and analyzing tenders. AI can help to automatically analyze and extract the key elements and fill the information for your Bid / No Bid sheet. Requirements can be extracted and automatically categorized (e.g. evaluation criteria, financial, legal, technical). Other examples would be the extraction of key dates, region or country, terms and conditions, budget, recurrence, certificates required, reference required.

2. Enhance the Way You Look Up Information

Smart search, filter and drill down functionalities on all information in the current tender. Easily find relevant information in historical tender documents could speed up things without doubt. Relevant information about previous tenders is usually only remembered by tender specialist working on that particular tender. Imagine having the information of all tenders available to all tender specialists with the ease of a Google search.  

3. Create Automized Customer Profiles

In times of a crisis, many bidders will respond to tenders published by organizations they are not familiar with. Tender documents will not provide all the information you need to make sure your response is fully aligned with the customer’s needs, written in a way that appeals to the customer and with the terms that are considered important by the customer. AI can help by automatically conducting stakeholder, environmental analyses  and topic modelling to create a better understanding of the customer. Also it can help to create a profile containing information about the customer, relevant themes & topics, and the related context & content based on public data from various sources.

Prepare your organization for the future. Now it’s time to take some steps to be able to deal with more tenders with the same amount of people. Secure your knowledge in models and get your digital tender assistant up and running. Be prepared for times where the competition is more fierce than ever.

It’s time to improve the tender process! Brainial removes the barriers to get started. Request a demo and we make sure we get you up and running to experience the value to get prepared for the future.

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