Despite competing against multinational firms from all corners of the globe, risk management consultancy CorProfit now counts Al Khafji Joint Operations (KJO) – one of the world’s largest crude oil producers – as a client.
“The tender started in late October 2016 and was submitted on 16 January 2017. Following this, Corprofit was asked to extend the validity of our tender three times, and on 23 October 2017, we received the Letter of Intent to say that CorProfit had won the tender,” the company’s director, Ian Abrahams, told My Business.
It was only after starting work with KJO earlier this year that CorProfit, based in Castle Hill in Sydney's north-west, learned it was not necessarily price that won it the lucrative tender against much larger players.
“CorProfit was not the lowest tenderer, there were two others that were cheaper,” said Mr Abrahams.
“The Head of Risk informed [us] that the CorProfit tender was the only one that made sense and gave KJO confidence that we knew the subject matter well.”
As a result of the win, which is expected to open additional doors for more work within KJO, Mr Abrahams said his business will likely need to grow its staff numbers to keep up with demand.
When asked what advice he would give to other SMEs weighing up whether to compete for lucrative tenders, Mr Abrahams said that it all comes down to conveying the value of your products or services.
“Demonstrate that you have good IP, and that your core expertise is aligned to your clients’ needs and expectations,” he said.
“And prove that you are a good investment for clients’ dollars. Show that you can and do add value.”