Sector-Specific Tender Insights: Check How Nexizo Streamlined Information for a PSU

The Institution

It is one of the largest power generation companies in India, which has been in existence for about 50 years now. The PSU operates in the oil and gas sector. The company has a diverse portfolio of power generation assets like gas, coal, hydro and renewable energy like solar & wind. Company is already aligned with India’s commitment to increasing renewable energy contribution in the overall energy mix and has a strong focus on expanding its renewable energy portfolio. The company is not only limited to power generation, it also undertakes projects related to power plant construction, consulting and power trading. The PSU was looking specifically for consultancy-related projects in the oil & gas sector.

Check how Nexizo provided highly curated consultancy-specific leads to the PSU’s marketing team

Challenge

The sales and marketing team of the PSU was getting tenders related to oil & gas from their partner team. However, the results were not accurate enough. They mainly wanted tenders related to energy audits of power stations/govt departments, improving the energy efficiency of various thermal power plants, energy efficiency consultancy services, decommissioning thermal power plants, consultancy services for the setup of renewable/green energy plants, etc. The DPR and feasibility reports etc which needed to be considered to search for relevant consultancy tenders would also have tenders related to repairs, civil and construction within the oil & gas sector. But those had to be sieved out, as they were not relevant. Let's take another scenario of the keywords-based searches. Consultancy tenders are being searched based on keywords drawings, waste to energy, and engineering drawing software, which would be loose searches. Now out of these contextual tenders had to be extracted; which in turn would be in large volumes. How to handle these large volumes of tenders and pick the most relevant ones out of that? Basically, how does one set multiple preferences and fit them all in a UI so that the marketing team can pull out the relevant consultancy tenders?

Solution

The PSU connected with the technology team for all things Tenders - Nexizo; and shared their problem as to how the mammoth data (that wasn’t getting filtered as per their specific requirement) was only making the daily lives of their marketing team more difficult.

Nexizo already aggregates tenders from across 16K+ authorities daily and extracts 45+ fields using AI, ML, & NLP from every tender document & result, the data was readily available to be churned for required insights. Just for reference, Nexizo has normalized 50MN+ tenders from 80K+ sources into a single schema using 52+ categories, and 50+ languages so that SMEs can use that information to get off-the-shelf decision-grade data. Nexizo already has an advanced search solution available in their backend technology, so the team put refined queries (not available on UI) to give the PSU a filtered, curated list of tenders for the day. Nexizo internal algos that is built on top of its recommendation engine; gave a focussed tender list based on the PSU’s requirement, which also had the rejected tenders, and that was made easily available on the UI panel for the PSU’s marketing team to simply review and accept/reject the tenders. The algo at the backend kept improvising the tender list based on the rejects shared by their team to display a refined, more relevant and smaller list of tenders. The PSU takes both Indian as well as global tenders lists from Nexizo.

Impact on the PSU

Nexizo's partnership with the PSU has made their relevant tenders funnel a lot more relevant and efficient. For example, with Nexizo, the relevant consultancy tenders for the PSU went up by 10X just in 6 months of getting the new consultancy tenders feed. The volumes of junk data of tenders went down by 10X at the same time. This helped the marketing team at PSU’s end with a lot of time and resource cost savings, as they were better able to now utilize the resources in qualifying those consultancy tenders further into business opportunities and monetization.