London, UK (PRWEB) September 23, 2013
Executive Compass® recently observed that the positive turn in the economy is now encouraging a huge number of clients to obtain the company’s expert bid and tender services, particularly those tailored for the construction industry.
Reports have shown that things are looking a bit cheerful on the economic front this side of the European Union, giving Prime Minister David Cameron one of the most compelling accomplishments of his premiership. The country’s $2.5 trillion economy reportedly grew by 0.6 percent in the second quarter, soon after a 0.3 percent upsurge in the first quarter, this according to a UK Reuters report released in early August (http://uk.reuters.com/article/2013/08/16/uk-britain-economy-politics-idUKLNE97F00520130816). All reports indicate that the UK is off on a straight path towards a 1.4 percent growth this year.
The bid writing specialists at Executive Compass® share that companies are now looking to invest more, once again, in the bidding process as projects are being released for tender. With business conditions improving at a fast rate, companies have become more confident about the money they spend — for any sector. However, the leading bid management firm notes that a lot more companies are exploring projects in the construction industry.
Various reports reveal that UK construction activity is rising, which is attributed mainly to the housing market gaining government support through policy measures and a reduction in the cost of credit. While construction companies and other related businesses have become encouraged to build more, thorough consideration should be undertaken before tendering for projects and submitting bids. Executive Compass® reveals in a recently posted item on its website that the average cost per bid, for a public sector contract, is at £45,200.
The report goes on to disclose, “The procurement process in the UK also takes substantially longer on average than it does elsewhere in the EU: 53 days more than it would take to complete for other European bodies … The average cost is 58 percent more than that for our European counterparts.”
Executive Compass® Managing Director Neil Capstick, says, “We are able to reduce the cost of your company tendering into the public sector through the use of a Bid Team retention. This can cost as little as £24,000 a year for the completion of all your bids and tenders, nearly half the average cost of a single bid in the UK. If you bid regularly for work, then the savings throughout the year can be even more substantial. Further to this, there are a number of additional benefits you would receive alongside your retained bid writer and manager or team.”
When a company obtains the Bid Team retention of Executive Compass®, it can save itself the prohibitive costs and counter-productive results from, among others, employees that fall ill or are unable to come to work during a critical bidding stage; it gets access to expert bid writers and proofreaders, 52 weeks in a year; it gets an independent review process, leading to a much more comprehensive internal examination; and it benefits from the experience and expertise of a full bid management team that is completely knowledgeable about the company and its business.
But Capstick mentions that hiring an external bid management firm extends far beyond saving company costs. He remarks, “In addition to saving money you also reduce your risk. When companies tender for work they are sometimes put off by being unsure of whether they meet the stipulations, and whether the submitted document is good enough. However, when using a company like Executive Compass®, we evaluate your chances and work with you to ensure you are fully compliant and that the final document will stand out from your competition.”
For more news on the bids and tenders industry and to find out more on expert bid management services, go to the Executive Compass® website today.