Many companies rely on software solutions in the tendering process. This software has the specific aim to improve the efficiency of the tendering process. Especially when responding to requests for proposal (RFP), machine support is appropriate. RFP software helps companies respond to more RFPs in less time. While this is the most obvious, it is not the only way RFP software can improve the process. But what should you look for when choosing RFP software, and how do you find the right solution for your company? In the following, we want to take a closer look at this question.
1. Editing in different formats
RFP questionnaires are issued in different formats. These include Microsoft Word and Excel, Google Docs and Sheets. Manual importing is tedious and time-consuming. In fact, it can be one of the most time-consuming parts of the response process.
Are you tired of copying and pasting? RFP software should allow you to edit questions in different formats such as Microsoft Excel or Word.
2. Management of content
Your company has responded to many RFPs in the past, and parts of those responses will still be of use in the future. So for your next RFP response, the previous responses will be revisited to scout for content.
Poorly sorted and fragmented content is one of the biggest challenges of the RFP process. A digital knowledge database helps because they have powerful search capabilities. This means that as long as you have your content properly categorised and tagged, it should be easy to find! We have listed all the benefits of a knowledge database for you here. In summary, a central knowledge base contains all the answers and relevant documents for your RFPs, and should not be ignored when choosing software.
3. Integration
Software solutions are capable of breaking down silos! This is achieved through integration. Instead of having to install another software, integrated solutions work with existing applications, e.g. as add-ons. This simplifies installation. If a software solution is also integrated into Microsoft Office and SharePoint, your team continues to work in its familiar environment. This often requires only minimal training of the employees. Cloud-based software fosters collaboration because it enables all participants to access relevant documents from anywhere.
4. AI-Support
RFP automation with software support reduces the time needed to respond to RFPs. Good software goes beyond simple automation. It uses artificial intelligence (AI) to help you step by step in the RFP response process. AI helps to identify the content of a question and suggest a suitable answer. This works even if questions are not word-for-word, but only the same in terms of content.
5. Free of-charge demo
If you are still looking for the best RFP software for your individual business needs, you can consider the four attributes above. Product demonstrations, or demos, are another good way to get clarity on what a software solution can do. You should therefore ask the providers if they offer demos of their products. Demos are usually free of charge and give you a first impression of whether a solution meets your requirements.
