On a busy estimating bench, a dozen bids can be live at once, each with its own due date, addenda, vendor quotes, and customer questions. Bid management is the discipline of keeping all of that on one board so nothing is missed and anyone on the team can see the state of a bid.
The traditional tool is a shared spreadsheet (a bid log), which works until two people edit different copies or the person who maintains it goes on vacation. Bid management software replaces the spreadsheet with a live board: bid dates and status per project, quotes and correspondence attached to the record, and win/loss outcomes recorded with dates and reasons.
Bid management overlaps with construction CRM but is not identical: CRM centers on the customer relationship across many bids; bid management centers on the individual pursuit. Pursuit, Vertigraph's bid management and CRM product, does both from the same record and connects to BidScreen Cloud takeoff so the estimate behind a bid lives next to the bid itself.