Showing 1-20 of 24 products
Loopio is a cloud-based request for proposal (RFP) solution that is suitable for midsize and large businesses. Primary features include content management, content libraries, team collaboration, import and export and advanced search. It... Read more
RFP360 is a proposal management solution that helps teams to manage end-to-end request for proposal (RFP) management and proposal creation. Key features include proposal creation, publishing, collaboration, advanced search, task management,... Read more
Expedience is proposal automation software that works where you do – Microsoft Word, Excel, and PowerPoint. The solution emphasizes ease of use while streamlining proposals, RFP responses, sales letters, DDQs, RFI responses, security... Read more
XaitPorter is a cloud-based collaboration platform that allows multiple users simultaneously create and edit different parts of the same document. The solution offers version control that prevents overwriting and duplication of documents.... Read more
MiClient is proposal management software which helps in automating Lead Management, Proposal Management and Client On-boarding processes. With the simplified and easy to use workflow, you can forget about the complexity of CRMs and... Read more
Proposify is a cloud-based proposal software suitable for web design and marketing companies of all sizes. Proposify allows users to select proposals from a range of templates or customize proposals as needed. The proposal editor... Read more
WinCenter is a cloud-based proposal management solution designed for government contractors and commercial operations. It features asset management, proposal workflows, scheduling and review management functionalities within a suite. Users... Read more
Qorus Breeze Proposals is a hybrid document management system (DMS) that caters to marketing, sales and competitive bidding teams in businesses. It helps users in the creation, distribution, tracking and management of a variety of... Read more
PandaDoc is cloud-based document management software that helps users in creating proposals, quotes, human resources documents, contracts and more. The solution is mostly used by sales and marketing teams and company leadership. PandaDoc... Read more
Qwilr is a cloud-based sales documentation and request for proposal (RFP) solution. It offers audit trail features, sales and marketing document storage, a content repository and analytics functionalities. Qwilr features a template... Read more
Paperless Proposal is a cloud-based proposal generation and sales solution that allows users to create, send, manage and track proposals, contracts, brochures and more. It’s suitable for sales and marketing teams in businesses of... Read more
Proposable is a cloud-based proposal management solution for small to medium size businesses that helps users create, track and sign formal proposals. From sending trackable web-based proposals to finalizing deals, the solution automates... Read more
RFPIO is a cloud-based request for proposal (RFP) solution that is suitable for businesses of all sizes. Primary features include response management, team collaboration, automated-response setup, data import and export tools and reporting. Users... Read more
PMAPS is a cloud-based and on-premise request for proposal (RFP) solution that is suitable for businesses of all sizes. It caters to companies in financial services, technology, asset management, health care, law and manufacturing.... Read more
TinderBox is a cloud-based sales automation solution that enables sales professionals to pitch, propose and close deals. It can help create online presentations, design proposals, manage contracts and analyze contract performance. TinderBox's... Read more
ConnectWise Sell is a quote and request for proposal solution suitable for businesses of all sizes. Primary features include quote and proposal, product sourcing, workflow automation and sales reporting. It allows users to create... Read more
Qvidian RFP and Proposal Automation is a cloud-based sales and RFP-response enablement platform. The solution includes a searchable content library, where all assets are stored in approved language and branding. Using this library... Read more
Huddle is a cloud-based project management solution that help project teams in businesses across various industry verticals to manage different components of projects and collaborate with other team members. Key features include file... Read more
infoRouter is a business documentation and request for proposal (RFP) management solution designed for small and midsize companies. It offers search tools, various document formatting options, a content repository, requirements management,... Read more
EndeavorCPQ is a cloud-based configure price quote (CPQ) and proposal management solution for midsize and large companies in manufacturing and distribution. It offers configuration, guided selling, pricing automation and quoting. EndeavorCPQ... Read more
An RFP, or request for proposal, is a document created as part of the procurement process, wherein a business (i.e., buyer) identifies a need for a product or service and solicits proposals from suppliers and/or vendors (i.e., seller) asking them to offer solutions and bid for the job.
The suppliers/vendors then create and submit proposals (i.e., bids), in which they outline their ability to deliver on the buyer’s business objective, with the goal of winning the bid and turning the proposal into a contract and the requester into a client.
We’ve created this guide to help you better understand the RFP and proposal management software market. Whether you’re looking to invest in RFP software for the first time or looking to upgrade your current system, this guide can help you make a more informed purchase decision.
Here’s what we’ll cover:
RFP and proposal management software helps buyers and sellers manage each side of the bidding and procurement process:
These tools act as a centralized workspace, helping to increase the transparency of the workflows involved with issuing and responding to RFPs and facilitating collaboration among users.
Another key function of these systems is centered around making critical information more easily accessible:
It’s important to note that “RFP software” is an umbrella term that refers to the tools used on both sides of the RFP process:
While these processes are absolutely related, they are on opposite sides of the transaction process, and it’s not common to find them together in one integrated suite.
In fact, you’re more likely to find proposal generation tools tied with your sales and CRM systems than with those used to issue RFPs.
As such, it’s important to understand the differences and similarities between each process and tool set to ensure you’re choosing the right RFP software for your business:
Issuing an RFP: Businesses issuing an RFP are seeking proposals from a supplier/vendor for a product or service that will help them solve a specific problem and/or achieve a specific business objective.
RFP’s often come after an exploratory request for information (RFI) and before soliciting an invitation to tender (ITT) and request for quote (RFQ) from a shortlist of approved suppliers/vendors.
The core steps within the RFP creation process include:
Responding to an RFP: Suppliers/vendors responding to an RFP are being asked to deliver a product or service to help the buyer achieve a strategic business objective. As such, they need to propose a solution that will outshine their competitors and help them win the job.
To do so, they need to create a detailed, professional proposal that meets the requirements laid out by the buyer. But first, they need to receive and review the RFP before deciding whether or not it is a worthwhile investment to pursue the sale.
As such, it’s important that suppliers/vendors actively take steps to identify the prospective customers in their space and let them know they are open to receiving RFP requests. They should also create a standard RFP response template that they can modify according to the request at hand.
The core steps within the RFP response and proposal generation process include:
Look for the following functionality as you evaluate RFP software and proposal management solutions:
|Contact management||Maintain a catalogue of important contacts within your industry.
|Task management||Create and assign tasks to resources. Schedule start and due dates and track progress to completion. Set up alerts to notify users when assignments are nearing their due date or are overdue.|
|Requirements management||Assists users in performing stakeholder analysis to capture, document and prioritize requirements during the initial planning stages, then managing change and tracking communications regarding those changes over the project life cycle.|
|Workflow management||Define structured workflows for various business processes via rule-based decision making, to better manage and control the flow of work through the system. Users know where a work item has been and where it needs to go next, which increases transparency and accountability. Assists with performance monitoring and process evaluation, so business units can identify inefficiencies and strive for continuous improvement.|
|Document management||Create and edit documents, share with other users, track changes and different versions. Often includes the ability to create and save templates, set up custom fields, add approval workflows and electronic signature. Buyers need document management for RFP creation and sellers need this capability for generating proposals.|
|Content management||Create and manage digital content. Maintain a centralized repository of past RFIs and RFPs (for sellers, this would include proposals in response to the RFPs), allowing stakeholders to easily access important information and potentially even reuse documentation for future needs. Organize content using tags, categories, filters and attributes, making your content management system easily searchable.|
|Contract management||Once a job has been awarded, both buyers and sellers need to track and manage the contract throughout the project life cycle. This includes authoring the contract, getting approvals, tracking requirements and obligations, then maintaining compliance with the contract commitments during project execution.|
Additionally, RFP response systems may include applications for, or integrations with, your sales pipeline management and customer relationship management (CRM) tools.
Both RFP creation and response systems may include applications for, or integrations with, project management tools, so that if or when proposals are awarded, the job can be transferred appropriately.