Increase Your Chances of Winning a Tender

Hello!

Today's post is dedicated to the ways you can increase your tender winning probability by using Seldon.Pro. We are not going to mention the market analysis and professional training, that are undoubtedly beneficial for ensuring successful participation, but touch upon analysis of tenders per se.

Seldon.Pro is both a search engine and AI-platform that uses your profile information to detect the tenders you are likely to win.

Tender Winning Probability

It is the first thing you have to pay attention to when examining a lot. The probability is calculated based on 25 parameters, which are divided into four groups:

• History of interaction with the customer
• Chance of admission
• Experience in similar contracts
• Advantage over potential competitors

The winning probability is calculated for competitive tenders only, i.e. it is not calculated for supplier-specific procurements. Also, each parameter can have a different effect on the total value depending on the procedure type.

Parameter Explanation

Experience in Similar Contracts

Your currently and previously performed supply contracts are used for calculation of this parameter. The products' OKPD2 codes of a certain tender are matched to the codes of products you have supplied before. The tender's price is then compared with the prices of your contracts to detect whether you have performed similar volume contracts before. The final score is formed based on the obtained data.

History of Interaction with the Customer

This value can change in the process of tender performance. The AI-algorithm compares your previous interaction with the customer with that of potential bidders. Algorithms based on machine learning use various parameters, including the percentage of contracts, pertaining to certain product or service, concluded by the customer with you; the number of customer's contracts, concluded with you as a sole bidder; the number of contracts concluded with you as a single supplier, etc.

The final score is calculated based on comparison with other potential participants' data.

Chance of Admission

The value is based on statistics of your company's admission to similar procedures organized by this tendering authority. Inclusion in the Suppliers Blacklist is also taken in consideration.

Advantage Over Potential Competitors

This value is comprised of two parameters: the expected number of participants and the predicted price drop.

The algorithm analyzes your previous participation in similar competitive procedures and determines the percentage of price reduction that is optimal for you. Such value is calculated for potential competitors as well. The final score shows the ratio of the estimated price decrease percentage to yours.

What Does the Winning Probability Mean?

We advise to use the winning probability rate as reference information since a low value does not necessarily signify an unambiguously low winning probability. We have described the parameters that are used to make up the overall score, so you can determine the significance of each parameter yourself. High winning probability score should not be regarded as a win guarantee either. Make sure you conduct a comprehensive analysis of tender organizer and customer, and examine the potential bidders to ensure an efficient participation.

Next time, we are going to tell you about conducting extensive analysis of customer, tendering authority, and competitors.