Public sector procurement presents a formidable challenge for companies, laden with intricate processes and substantial resource demands. A software-as-a-service tool, Tengo utilizes artificial intelligence (AI) to simplify and optimize this complex arena, thereby unlocking substantial efficiency gains. Particularly within larger markets such as France, where more than 200 platforms host public tenders, navigating and responding to these opportunities can be an overwhelmingly time-consuming endeavor. Companies often find themselves compelled to outsource these labor-intensive tasks to freelancers or consulting firms, but Tengo offers a more streamlined, technology-driven alternative. The startup, a product of Hexa’s startup studio inception, has rapidly gained traction, securing a €3 million funding round led by Point Nine. Tengo aims to transform the public sector procurement landscape by leveraging AI in ways that reduce the burden on resources while broadening market access for companies, especially small and medium-sized enterprises (SMEs).
Streamlining the Tender Identification Process
The initial step in Tengo’s process involves clients setting specific criteria for identifying relevant public tenders, which could include factors such as project type, size, and required expertise. Once these criteria are established, Tengo’s software scans a multitude of public portals to locate matching opportunities. A key feature of AI in this context is its ability to sift through extensive and detailed tender documents that are designed to minimize risks of corruption and overspending. The sheer volume and specificity of these documents can be daunting, yet Tengo’s AI simplifies this by automatically identifying necessary information. For example, it can determine if a school equipment tender only seeks suppliers capable of providing 100% online training courses like those offered by OpenClassrooms, analyzing up to 40 different criteria to ensure fit.
Through this advanced AI functionality, Tengo dramatically reduces the research time and effort required to pinpoint viable tender opportunities. Companies are no longer at the mercy of manual searches or reliant on external consultancy firms, as Tengo’s AI rapidly processes diverse data sets to offer clear, actionable procurement leads. This automation fosters significant operational efficiencies, allowing companies to redirect their focus from laborious administrative tasks to strategic business activities and enhancing their ability to participate competitively in public procurement.
Enhancing Document Generation and Team Collaboration
Once suitable tenders are identified, Tengo’s AI continues to add value through its document generation capabilities. The tool assists in crafting precise and compliant submission documents, which are essential for tender success. Given the meticulous requirements of tender documents, Tengo’s AI analyzes and highlights crucial details, facilitating accurate and thorough responses. This feature is invaluable for companies that usually grapple with manually compiling extensive tender applications, ensuring no critical element is overlooked and increasing the chances of a favorable outcome.
Additionally, Tengo serves as a central repository that monitors ongoing applications and facilitates collaboration among team members. The platform creates an accessible space for feedback, edits, and updates, ensuring that all stakeholders are synchronized and informed throughout the procurement process. Real-time alerts for tender deadlines and expiring opportunities further enhance operational workflow, preventing missed opportunities and lapses in submission timelines. By integrating AI with collaborative tools, Tengo not only improves document quality and compliance but also fosters a cohesive team approach to tender management.
Supporting SMEs and Fostering Economic Inclusivity
Navigating public sector procurement can be daunting for companies due to its complex processes and significant resource demands. Tengo, a software-as-a-service tool, leverages artificial intelligence (AI) to streamline and enhance efficiency in this challenging field. In large markets like France, with over 200 platforms hosting public tenders, the process of identifying and responding to opportunities can be extremely time-consuming. Many companies resort to outsourcing these intricate tasks to freelancers or consulting firms, but Tengo offers a more efficient, tech-driven solution. Originating from Hexa’s startup studio, Tengo has quickly gained momentum and secured a €3 million funding round led by Point Nine. The startup aims to revolutionize public sector procurement by harnessing AI to ease resource burdens and expand market access, particularly benefiting small and medium-sized enterprises (SMEs). With AI-driven optimization, Tengo is set to transform how companies engage with public tenders, making the process more accessible and efficient.
