Professional Builder caught up with founder and CEO David Stapleton, to find out more about the recently launched online platform TenderSpace.
TenderSpace has been designed to be an easy-to-use way for builders to connect and collaborate with property and construction professionals, protect their business from late payment issues and target the work they want across the commercial and public sector.
PB: Why have you launched TenderSpace?
Our team has over 50 years’ experience in property development, and we have seen an ever growing need to simplify and streamline many of the complex and costly processes associated with property and construction related projects, not just for developers and project managers, but also for builders and the trades too.
Opening up access to new work opportunities and improved transparency within the building industry is central to why TenderSpace has been launched. We also know it is important to protect your business while you grow and that is why we have added a credit risk rating tool which helps builders tackle the scourge of late payment.
PB: How does TenderSpace help builders to target work?
We focus on opportunities that are still ‘live’ and possibly still at the feasibility stage, allowing you to send expressions of interest to potential clients and employers at the earliest possible phase.
Our competitors only inform users about new jobs once the procurement process has started and when key decisions have probably already been made. Our method gives builders the chance to develop business-generating relationships with people requiring their expertise earlier in the procurement process. TenderSpace also allows public and private sector procurement managers to invite contractors to join a project and tender for the work.
PB: How do Professional Builder readers access the opportunities and tools on the site?
Registering with TenderSpace is free and you can then choose to upgrade your subscription as and when you need the more advanced services. All public sector jobs are listed and are free to view.
Within the suite of tools there is a ‘Profile Builder’, an interpretation and simplification of the PAS91 Pre-Qualification Questionnaire (PQQs). It saves a lot of time filling in forms (you just do this once) and allows tradesmen to show project managers their skills and expertise via a single link from TenderSpace. Profile Builder provides an online web profile, just like a mini-website, and it’s the perfect solution for builders hoping to bid for smaller public sector projects under £100,000.
Also in the ‘ToolBox’, is ‘Product Sercha’ which gives users the ability to source products from over 11,000 manufacturers and ‘Project Manager’ where you are able to share and store vital documentation with your team from start to finish. Our designers have worked extremely hard to make TenderSpace a really easy platform to use, both for builders and the procurement professionals who want to collaborate with you.
PB: You mentioned tackling late payment. How does this element work?
We know that late payment is a huge problem in the construction industry. In fact, the Euler Hermes Quarterly Overdue Payments Report found that late payments in the construction industry rose by a staggering 27% during 2015.
We want to help combat late or non-payment issues, which is why we added the unique ability to check the credit rating of potential project partners, main contractors and supply companies using ‘Finance Checker’. TenderSpace will also notify you if there is any change to a credit rating, helping subscribers to protect their businesses.
There’s always a risk in taking on a new customer. Unless you do a credit check, you just don’t know whether they’re capable of paying you. Finance Checker produces Credit Risk Reports which allow a subscriber to determine the creditworthiness of your business partners in an instant.
PB: What about builders who only specialise in domestic work?
For smaller jobs, such as repairs or remedial work, the ‘Quick Quote’ facility allows anyone to go on the site and post a job, which will then be sent to builders who have registered on the site and have opted in to receiving job notifications.
PB: So what should readers do first?
It’s free and easy to register, so go to www.thetenderspace.com and get started by creating a profile. You can then save time creating the PQQ form, search for work, and if you need the Finance Checker, upgrade your subscription to include 20 credit checks. An annual TenderSpace subscription for up to two users is just £280 per year.
TenderSpace has teamed up with PB to bring readers an exclusive first year subscription offer of just £140, including 20 credit checks. To take advantage of this offer, simply add the code PBDec16 when subscribing for 12 months.