Over the past months, we’ve talked to several clients about making RFP management more efficient and, to our surprise, most of them confessed that they simply can’t automate or repeat the process of creating an RFP, since each one is different.
Specifically, those who need to deal with responses spend a lot of time rewriting the content they have already written before, have trouble finding appropriate pieces of content, can’t tell exactly who created said content or simply want to be more consistent in generating RFP responses.
Overall, this translates to a lengthy, tedious and overall difficult RFP response process – problem that could be solved with the help of an RFP management software.
The main pain point with answering RFPs
A lot of companies, no matter their size, still deal with request for proposals manually, without relying on technology at all. This involves complex spreadsheets and documents which can be very difficult to deal with, not to mention the entire amount of time this involves and the increased probability of missing deadlines.
The downside is that this way of working could continue, leading to organizations responding to fewer RFPs and not winning the ones they submit, no matter how hard the proposal managers try.
If you are a proposal manager, you’re responsible with winning new business because that’s what winning an RFP actually means. In order to do this, you need to be able to rely on an efficient response process. But this can’t be done without the right technology – and this is where Kaito steps in.
Kaito is an RFP response automation platform that helps sales teams deliver faster and higher quality RFP responses. It’s the newest addition to the Quandora family and if you struggle with the pain points above, we invite you to join Kaito’s beta program and test the benefits for yourself.
And that’s not all…
There are numerous cases in which both subject matter experts and proposal managers find it very difficult to collaborate. Usually, they rush a lot and end up submitting outdated, boilerplate responses, instead of sending up-to-date ones, suitable for each prospect.
How can knowledge sharing help in the RFP response process?
Along using an RFP response automation platform, you should be able to also rely on the various knowledge inside your organization in order to make sure the information you have is up to date and thorough. And this where knowledge sharing comes in. Among some of the most important benefits of alternatively using a Q&A knowledge sharing software are the following:
1. Break information silos
When members of a team (or teams) don’t have the same levels of access to important company content, they end up dealing with inefficiencies well beyond the RFP response process. On the other side, organizations which rely on a knowledge sharing platform promote collaboration and growth.
With RFPs, the expertise provided by subject matter experts is indispensable, as they contribute with technical specs and product information other members of the company don’t have. In case one of the said experts leaves the project or the company, having access to all the information they provided through a knowledge sharing platform can prove vital.
2. Increase efficiency
Having a large amount of organized information at your disposal makes the entire response-generating process a lot more efficient. People from procurement don’t need to search for the information they need for hours, through various documents, as the knowledge sharing platform gathers all the information they need in one place.
3. Establish a collaborative ecosystem
Collaboration is a vital part of the RFP response process. If team members can communicate effectively and have easy access to information from other departments (such as R&D and marketing), this contributes to a more streamlined process.
4. Improve quality and gain more control over the RFP response process
Being able to produce quality responses is what separates successful projects from unsuccessful ones during vendor selection. And using a knowledge sharing platform frees up time to create content that will stand out and better cater to clients’ needs.
Thanks to new technology able to support the entire RFP response process, it won’t be long until we will assist to a very important shift in the proposal management industry.
5. Discover existing knowledge
Interacting with employees from all the departments of your company and asking them to contribute to a knowledge sharing platform will help transfer not only explicit knowledge, but also tacit knowledge within the organization.
In most cases, all the information collected during a project is discarded after everything is done, or kept in a knowledge silo, like a personal database. Imagine being able to access and reuse it in the form of collective knowledge, from sales, manufacturing/engineering, IT, logistics, product development, marketing, etc.
The proposal management industry is constantly evolving with a big focus on technology, and proposal managers will be the first ones to benefit from this, while subject matter experts will easily contribute to creating RFPs.
More and more organizations are starting to realize the importance of knowledge sharing and collaboration, as they admit they need to ‘put their heads together’, in order to be more successful with their RFP responses.