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Benefits Of A Proposal Compliance Matrix

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It is not easy to create a proposal that meets all the requirements in a Request For Proposal (RFP). But it is possible with careful planning and attention to detail, as long you have this handy compliance matrix at hand.

For new RFPs or updates to existing ones, it is important that you identify and manage your company’s compliance with each requirement. The proposal compliance matrix enables a quick cross-referencing between information requested in the bidding process and corresponding responses. These are outlined within one of our proposals for this type of contract so we can ensure they are fulfilled fully before moving forward.

A proposal compliance matrix is a grid-style tool used by the procurement department to identify, track, and meet each requirement in an RFP. It may also be called an “RFP compliance traceability matrix” or “proposal matrix.” No matter how it is referred too, this helpful document helps keep everyone on board with what needs completing for your organization.

The value of the proposal compliance matrix is not limited to its benefits for buyers. The procurement manager or department head who created this document knows there are many factors to consider. They need an RFP that organizes their needs with integrity so as not be fooled by subjective preferences, among other things. This helps them stay focused on objectivity when making decisions on which solution best suits them

Here are some key benefits to use a compliance matrix:

Know Every Need Before The Bid

The key to winning a bid is understanding your customer’s needs and meeting all their expectations. This means consolidating information to create an easy-to-read list. This makes it easier for them to see if you are the right fit. This should be done before deciding whether they want more details about what kind of services would best suit these specifications.

Prepare A Complete Proposal

Create an efficient and creative proposal by using the RFP compliance matrix. Plan your timeline, assign tasks to individuals on your team, then fill out each requirement’s appropriate person according to their role.

Write Relevant Responses Meeting Stated Requirements

The proposal compliance matrix helps Subject Matter Experts (SMEs) quickly understand their customer’s needs without wasting time on irrelevant details. The SMEs can reference this table to make accurate judgement calls, which will save you money in the long run.

Create A Roadmap For Reviews

Proposals can go through many steps to reach final approval, but it is important not to miss any of the checklist in this process. The proposal compliance matrix will save you time and energy by ensuring each requirement has been addressed before submitting your plans for review.

Conclusion

When it comes down to ensuring a high probability of winning RFPs (the Pwin), complete compliance can make or break your proposal. So, whether you invest time to manually create a matrix yourself or use software that automates the process of creating one for you, attention to detail always pays off.

The Proposal & Contract Suite, developed by Scion Analytics, can help ensure Pwin by quickly creating a compliance matrix for efficient and accurate contract bidding.

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