Accelerate your bid and tender process efficiency by 25% using AI
Bid and tender processes are notoriously difficult for energy businesses, with engineers performing comprehensive reviews of complex documents under very tight deadlines. Making a single mistake on one critical requirement can cost a company millions of dollars.
During bid reviews, organizations frequently rely on disconnected tools like Microsoft Word and Excel, creating data silos, inefficiencies and errors that slow the bid process while introducing risks that can extend throughout the project lifecycle.
Now the good news: Artificial intelligence (AI) is revolutionizing the bid and tender process by automating and streamlining various parts of bid management. In our recent webinar, Siemens experts presented how adopting our new AI tool can reduce document analysis time from weeks to hours, while improving accuracy and reliability.
Intrigued? Scroll down for webinar highlights.
Current bid and tender processes are inefficient, siloed and cause long-term project challenges
The bid and tender process typically involves collaboration between expert groups in your organization who must communicate with external stakeholders, all while managing complex document clarifications or deviations.
Siemens’ Chris Stazinski, Senior Presales Solutions Consultant – Polarion, describes the current bid and tender landscape within many energy businesses and explains how disconnected software solutions combined with the lack of a requirements management platform can negatively impact activities throughout a project lifecycle.
Reduce your bid creation lead time using our centralized, AI-powered platform
Perfect for organizations struggling with slow bid lead times, our AI-powered platform revolutionizes the bid and tender process by automating mundane tasks and providing a centralized collaboration environment.
Watch the clip to learn how our platform can reduce bid creation lead time by 25% using:
- AI-driven document analysis, extraction and classification
- A centralized collaboration environment and knowledge repository
- Integrated change management, end-to-end traceability and integration with various execution systems
Watch our solution use AI to analyze bid documents and break them down into requirements
Our solution uses advanced AI to perform an initial assessment of bid documents. It then develops and manages project requirements from the documents.
As shown in the video below, instead of simply relying on unconnected PDFs or Excel docs in your bid process, our solution:
- Develops an interactive document that’s broken down into individual items with their underlying data.
- Automatically marks items as non-compliant and high criticality
- Tags relevant disciplines such as electrical, mechanical, legal and commercial
- Suggests document and comment text
Our AI solution is trained on your past bid responses to optimize current bid process efficiency
As you work in our solution, it trains the AI, and information is automatically reused and applied based on your responses to past similar bids and for similar individual requirements.
This dramatically improves your teams’ ability and confidence when managing bid responses while enabling a much shorter turnaround than performing the tasks manually.
Watch the tool in action:
Empower your engineers with a centralized dashboard which tracks progress and drives collaboration
Engineers working on bid reviews often ask themselves, “What do I need to do now?” Our solution provides engineers and stakeholders with a personalized dashboard that only displays items assigned or related to them, plus the status.
Engineers can quickly add and capture comments and produce a shareable file in an intuitive or expected format by external stakeholders, such as Excel. Change requests are linked to the applicable requirements, while traceability is captured and continuously visible through various impact analysis reports.
Because all of this information and collaboration is synced with the AI layer, it will ultimately be utilized for further bid development while allowing you to continue to grow, refine, and develop your bids. Watch the clip to learn more.
Are you ready to integrate AI into your bid and tender processes?
Integrating AI into bid and tender management is revolutionary for energy businesses. By automating mundane tasks, accelerating stakeholder collaboration, and providing intelligent insights, adopting an AI-driven bid and tender solution can free your knowledge worker resources to focus on other essential functions and projects.
Learn how our AI-driven bid and tender platform can empower your business and teams by watching the full webinar.
