Automate RFP Response: What Are the Benefits?

Why should you automate RFP response processes?

Responding to RFPs helps your company make sales and generate revenue so your business can succeed. However, the RFP process is notoriously long and laborious. Automating the RFP response process will make your teams more efficient so that you can win more business.

Business concept. Improving productivity, reliability and business processes. Automation concept

RFP Automation Software Helps Decrease Your Response Time

Automation software helps teams maximize their resources and reduce time spent on RFPs. This time-savings allows team members to focus on their other tasks—or to respond to more RFPs. 

Responding to an RFP is a collective effort. It includes people from departments across the company. Often, an organization’s most valuable employees are involved in RFP responses. If your organization gets a large chunk of its revenue from RFPs, this cumulative effort can really add up.

With a single library of approved content, repeatable workflows, and reusable formatting templates, you are no longer reinventing the wheel with every RFP. You will save time and effort in every step of the process. 

Increase Your Productivity with Automation and Automatic Answer Completion

One of the most time-consuming parts of responding to an RFP is getting the right answers. Searching for information takes time and energy. And it all too often includes the waiting game of tracking down SMEs and waiting for their responses.

With proposal automation, you can insert the best-fitting answers to blocks of RFP questions in bulk automatically. Stop waiting for SMEs to get back to you. Instead, mine your content library for the best answers to common RFP questions. Products like Qvidian even learn which information is the most effective over time, so they can suggest increasing helpful answers.

You can automate RFPs, proposals, DDQs, questionnaires, and Sales Content to create accurate and complete responses that win more. 

Another key to increased productivity with RFP response software is reusable formatting templates. With a template library, it is fast and easy to ensure everything appears consistent and is a reflection of your brand.

Infographic: Qvidian's customers report 28% increased win rates, 30% faster response time, and 40% quicker content creation.

Library of Approved Content at Your Fingertips

Be confident that you are always working with accurate and approved content with a library that acts as a single source of truth. 

Of course, that requires the library to be reviewed and approved regularly. But automation is there to help with expiration alerts and automatic content review and approval workflows. 

Taking time to remove irrelevant or outdated content can make your RFP responses stronger and more impactful. If the content hasn’t worked for you in the past, it’s time to take a second look and replace it with something better. 

Get the right information every time with a library of highly searchable, up-to-date, and approved content. 

Repeatable, Streamlined Workflows to Automate RFP Responses

It’s easy for RFPs to get tied up in version control issues, endless emails back and forth, and other bottlenecks when you don’t have established processes in place. 

Automation allows you to create repeatable workflows and track your progress. Clearly defined roles ensure everyone knows their part. And streamlined processes, including multi-step review and approval workflows, help guarantee that nothing gets lost in the shuffle.

An additional benefit of repeatable processes is that you can build-in compliance and audit trails. Send RFP responses with confidence, knowing you’re always audit-ready.

Built-in Compliance and Security 

With a proven track record of more than 25 years, Qvidian has helped more than 1,000 companies all over the world win more business.

We’ve won their trust by taking their security and compliance seriously. Our enterprise-grade application was designed to meet highly regulated industries’ compliance requirements, including leading finance and investment firms.

You can rely on us to stay ahead of the threats as the security landscape continues to evolve. Our internal Security and Compliance team is on hand 24x7x365. Their continuous monitoring and reporting help ensure that everything is operating as intended.

To learn more about how to automate your RFP process while maintaining security and compliance, visit our Financial Services page

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