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How to Compare and Award Bids

Overview​

Once your suppliers have responded, their priced offers sit together as Bids. This guide shows how to line them up side by side, get the chosen rates approved, award the best-value offer, and raise a Purchase Order from it.

Opening the Bid list​

Step 1: Go to Bids​

  1. Go to Purchase from the sidebar
  2. Click Bids
  3. The list of Bids opens

Understanding the list​

The list shows every Bid, with columns such as:

ColumnDescription
Bid numberThe reference for the supplier's offer
SupplierWho made the offer
Bid dateThe date of the quote
RFQThe Request for Quote this Bid answers
Valid untilThe last date the quoted price is held
Total amountThe overall value of the offer
StatusWhere the Bid is up to (colour-coded badge)

Status badges​

StatusMeaning
OfferRecorded and ready to compare — no decision taken yet
In ReviewThe offered rates are with an approver and cannot be edited until decided
ApprovedAccepted (awarded) — ready to raise a Purchase Order
On HoldPaused for now — can be sent for approval again later
RejectedNot accepted — can be revised and re-sent
ExpiredThe quoted price is no longer valid — its held-until date has passed

Searching and filtering​

  • Search by supplier or Bid number
  • Filter by status — for example, show only offers still open to award
  • Filter by supplier — focus on one supplier's offers
  • Filter by RFQ — bring together every Bid answering the same RFQ

Filtering by RFQ is the quickest way to set up a fair comparison.

Comparing Bids side by side​

To choose well, weigh the offers on more than the headline price.

  1. Filter to the RFQ so you see only the Bids answering it
  2. Open each Bid, or expand its row, to see the item-by-item detail
  3. For each supplier, compare:
    • Unit price for the same item and quantity
    • Any volume rate — a better price on a larger order
    • Any payment-term rate — a better price for paying sooner
    • Tax and discount — the real landed cost, not just the list price
    • Payment terms and validity — how long you have, and when to pay
    • Delivery, warranty and reliability — noted on the Bid

The best value is not always the cheapest. A slightly higher price with faster delivery, longer credit, or a supplier you trust can be the better buy. Compare the whole offer, not one number.

The approval step before awarding​

Accepting an offer's rates often needs sign-off first. When an approval workflow is set up:

  1. Send the rates you want to accept for approval
  2. They route to the right approver, based on the department on the Bid
  3. Several people may need to approve in turn — multi-level approval — where your business requires it
  4. While an offered rate is out for approval it is locked: it cannot be edited or re-sent until a decision is made
  5. An approver can Approve, Reject, or put a rate On Hold
    • Approved rates are accepted and ready to award
    • Rejected or On Hold rates can be revised and sent again

If no approval workflow is set up for the department, the buyer can accept the chosen rates directly. Approvers can see and action everything waiting for them in Approvals.

Awarding the winner and raising a Purchase Order​

Awarding a Bid means accepting the supplier's offer. Once the rates are approved:

  1. The Bid shows as Approved — it has been awarded
  2. Raise a Purchase Order straight from the winning Bid
  3. The supplier, items and agreed rates carry over, so you do not re-key them
  4. From here it becomes a normal Purchase Order: sent to the supplier, then received and billed against

This is the point where a commitment is made — up to now the Bids were only offers.

A real example​

Three suppliers bid for the same 500 units

  • Supplier A — ₹95 a unit, 60-day payment, delivery in three weeks
  • Supplier B — ₹92 a unit, pay on delivery, delivery in five weeks
  • Supplier C — ₹96 a unit, 45-day payment, delivery in one week, and you have never had a quality issue with them

Supplier B is the cheapest on paper. But you need the stock quickly and want to hold your cash, so you award Supplier C — a rupee or two more per unit buys fast delivery, decent credit and a supplier you trust. You approve Supplier C's rate, award the Bid, and raise the Purchase Order from it.

Common Tasks​

Compare all Bids for one RFQ​

  1. Filter the list by that RFQ
  2. Open or expand each Bid to see the priced items
  3. Weigh price, terms and reliability, then award the best value

Send an offer for approval​

  1. Open the Bid
  2. Send the rates you want to accept for approval
  3. Track them in Approvals until decided

Award and order​

  1. Once the rate is Approved, raise a Purchase Order from the Bid
  2. Check the supplier, items and rates carried over correctly

Troubleshooting​

Issue 1: I cannot edit a Bid​

Solution:

  • Its rates are probably In Review and locked while an approver decides. Wait for the decision, or ask the approver to release it.

Issue 2: The Bid shows as Expired​

Solution:

  • The supplier's held-until date has passed. Ask the supplier to re-quote, then record the fresh price as a new Bid.

Issue 3: I cannot award a Bid​

Solution:

  • Awarding usually needs the offered rate approved first. Check whether it is still waiting for approval in Approvals.

Issue 4: The approval is not moving​

Solution:

  • Check that an approval workflow is set up for the department on the Bid, and that the next approver in the chain has actioned it.

Best Practices​

Choosing well

Compare Bids for the same RFQ together so you are weighing like for like

Look past the headline price — volume rates, payment terms, delivery and reliability decide real value

Award before the valid-until date, so the supplier still honours the price

Keep a short note of why you chose a supplier — it helps the next time you buy the same thing

Need help? Contact support at support@bizconnekt.com