The need to win work through formal bidding and tendering has become essential to corporate survival.
Bidhive is an all-in-one platform that helps companies plan, manage and track their bid management activity all in one place. By using big data and advanced analytics, Bidhive helps companies better understand the relational factors behind their bid’s success or failure and use this to shape a winning bid in the context of each new opportunity.
Bidhive was established in 2017 when co-founders Nyree McKenzie and Aaron Godde were accepted into the River City Labs Accelerator.
“It was here that we met our current product team, all of whom have remained with the startup since its early beginnings,” Nyree says.
Nyree says companies’ ability to win tenders and bid for work has never been more crucial.
“It is now the most preferred method to procure public goods and services globally, making up 12% of GDP,” Nyree says.
“The private sector is now adopting the practice at a surprising pace, with 46% of large private-sector companies and 36% of small- and medium-sized companies now regularly using competitive bidding and tenders in their buying process.
“To keep up, companies are now looking for automation solutions to help them manage compliance and the many moving parts of the bidding process.”
Bidhive is the first collaborative platform to provide bidding teams with tools that unify the process all in one place.
Bidhive combines process automation with best practice end-to-end bid management approaches to help companies improve their operational efficiencies and win rate through better pre-qualification of opportunities, improved compliance and understanding of metrics.
As a new company they have faced challenges.
“One of our biggest challenges is educating users on the benefits of automation and digitised processes that replace old, manual ways of working,” Nyree says.
“From a perception point of view the fear of change is often bigger than the change itself. We’re finding that once customers decide to trial they are pleasantly surprised with how intuitive the platform is and they quickly see the value.”
The team has also seen great achievements.
“Since our soft launch in mid-2019, Bidhive has been used across 19 countries, with users reporting 30-40% improvement in efficiencies, higher win rates and 90% faster user adoption than other competitive platforms in the market,” Nyree says.
“With Advance Queensland’s Ignite Ideas funding we’ve been able to conduct commercial pilots of our technology and bring on global brand early adopters onto the platform, including Independent Clinical Services UK, the decommissioning unit of the Danish logistics conglomerate Maersk, Matrix SCM from the UK and WorkPac Group Australia.”
Looking forward, Bidhive will focus on customer acquisition, sales and marketing. Bidhive’s extended solution offering of Bidhive Academy eLearning and the Bidhive Consultancy Network is to be launched in 2020 and will further differentiate the Bidhive brand as building capability as well as capacity.
