Tender Submission for Accounting & Finance
A structured process for responding to formal tenders, requests for proposal (RFPs), and requests for quotation (RFQs) from prospective clients. Covers bid assessment through to final submission.
Purpose
To submit competitive, compliant, and compelling tender responses by following a disciplined process that maximises win probability while managing bid costs effectively.
Scope
Applies to all formal tender responses including government RFPs, corporate RFQs, and competitive bid processes. Covers from initial bid assessment through to submission and post-submission follow-up.
Prerequisites
- Tender working paper or RFP received and reviewed at a high level
- Access to previous tender responses and win/loss data
- Cross-functional bid team identified (sales, technical, legal, finance)
- Company credentials, certifications, and reference materials on file
Built with ASIC regulatory requirements, AML/CTF compliance, Tax Practitioners Board obligations, and APES standards in mind.
Step-by-Step Procedure
Conduct Bid/No-Bid Assessment
Evaluate whether the opportunity is worth pursuing based on fit, win probability, resource requirements, and strategic alignment.
- 1.1Score the opportunity against the bid/no-bid criteria (fit, margin, competition, capacity)
- 1.2Estimate the resource investment required to produce the response
- 1.3Assess win probability based on incumbent status, relationships, and requirements alignment
- 1.4Make and working paper the bid/no-bid decision
- Be disciplined about no-bid decisions — chasing every tender drains resources and lowers win rates
Assemble the Bid Team
Identify and assign the cross-functional team members who will contribute to the response.
- 2.1Assign a bid manager to coordinate the response
- 2.2Identify subject matter experts for technical sections
- 2.3Confirm availability of legal and finance reviewers
- 2.4Schedule a kick-off client meeting with the full bid team
- Confirm availability before assigning — competing deadlines are the biggest risk to bid quality
Analyse Requirements and Plan the Response
Break down the tender requirements into a response plan with section assignments, deadlines, and compliance tracking.
- 3.1Create a compliance matrix listing every requirement and its location in the tender working paper
- 3.2Assign each section to the appropriate team member with a clear deadline
- 3.3Identify questions for the issuing organisation and submit them within the Q&A window
- 3.4Establish the response timeline working backwards from the submission deadline
- The compliance matrix is your single most important tool — every requirement must be addressed
Draft the Response
Write the tender response sections according to the plan, ensuring each addresses the specific requirements.
- 4.1Draft each section using the compliance matrix as a guide
- 4.2Address every stated requirement explicitly — do not assume the evaluator will infer
- 4.3Include evidence, case studies, and proof points for key claims
- 4.4Follow the tender working paper formatting and structure requirements exactly
- Answer the question as asked, then add value — compliance first, differentiation second
Develop the Pricing Response
Prepare the pricing section using the required format, ensuring competitiveness while maintaining acceptable margins.
- 5.1Build the cost model based on the scope and report delivery plan
- 5.2Apply strategic pricing decisions (penetration pricing, value pricing, etc.)
- 5.3Complete the pricing schedule in the exact format specified by the tender
- 5.4Obtain pricing approval through the standard approval process
- If pricing is submitted in a separate envelope, ensure it is internally consistent with the technical response
Conduct Internal Review
Perform a thorough quality review of the complete response before finalisation.
- 6.1Verify compliance matrix — every requirement must have a corresponding response
- 6.2Review pricing for accuracy and consistency with the technical solution
- 6.3Check formatting, page limits, and submission requirements
- 6.4Proofread the entire working paper for errors
- Have someone who was not involved in drafting perform the final review — fresh eyes catch more
Prepare the Submission Package
Assemble all required documents, certificates, and attachments into the final submission package.
- 7.1Compile the response working paper, pricing schedule, and all required appendices
- 7.2Include all requested certificates, insurance documents, and references
- 7.3Prepare the submission in the required format (digital portal, email, physical copies)
- 7.4Verify the package against the tender checklist of required documents
- Prepare the submission package 24 hours before the deadline to allow for last-minute issues
Submit the Tender Response
Submit the completed response through the required channel before the stated deadline.
- 8.1Submit via the specified method (portal upload, email, courier)
- 8.2Obtain and save the submission confirmation receipt
- 8.3Notify the bid team that submission is complete
- Never wait until the last hour — technical issues with portals are common near deadlines
Post-Submission Follow-Up
Engage with the issuing organisation appropriately after submission and prepare for potential next steps.
- 9.1Send a confirmation email to the tender contact acknowledging submission
- 9.2Prepare for potential clarification questions or presentations
- 9.3Log the submission in the CRM with the expected decision date
- Stay engaged but respect the evaluation process — do not apply undue pressure
Quality Checkpoints
Common Mistakes to Avoid
Expected Outcomes
Percentage of submitted tenders that are won, targeting above 30% (varies by industry).
Average compliance score received from tender evaluators, targeting above 90%.
Percentage of tenders submitted before the deadline without last-minute rush, targeting 100%.
Frequently Asked Questions
What if we cannot meet all the tender requirements?
If the gap is minor, address it honestly in your response and propose an alternative or mitigation plan. If the gap is a mandatory requirement, assess whether a non-compliant bid is worth submitting. In some cases, a well-reasoned alternative approach can still win, but mandatory requirements are usually deal-breakers.
How should we handle tender Q&A periods?
Submit thoughtful questions during the Q&A window that demonstrate your understanding and help clarify ambiguities. Avoid questions that reveal your strategy or pricing approach. Always review answers provided to other bidders questions as they may contain important clarifications.
How do we decide whether to bid on a tender?
Use a structured bid/no-bid assessment that evaluates fit with your capabilities, win probability, required investment, margin potential, and strategic alignment. As a rule, you should only bid if win probability is above 25% or the opportunity has significant strategic value.
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