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RFP Automation Software

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Hello world, meet automation…

Automation is ubiquitous in a world that is being driven by technology. In a blink of an eye, the digital transformation has leveraged smart phones and social media platforms to shape a society that expects instant gratification from the technology it harnesses. The laborious proposal management process was not immune from automation. In fact, the proposal management industry experienced a paradigm shift with the introduction of RFP automation software that left few proposals untouched on the desk of proposal managers.  

What Is RFP automation software?

RFP automation is the use of technology to perform tasks in the proposal process. As a solution, it has been redefined by the advances in artificial intelligence (AI) and natural language processing (NLP), sophisticated technologies that have simplified mundane tasks.

Why Is RFP Automation Software Important?

  1. RFP automation is affordable – Across verticals, proposal managers calculate the cost of manual labor on each proposal against the cost of the purchase of RFP automation software to find significant savings. Data gathered from automated processes allows businesses to quantify ROI from RFP software.  Given the immense boost in productivity and proposal turnover, it stands out as an investment that appreciates in a short period of time.
  2. RFP automation is collaborative – RFP automation is a gamechanger when it comes to improving collaboration and consistency in proposal management. The lack of centralized knowledge is a considerable barrier in the manual proposal management process. Siloed knowledge is detrimental to consistency and compliance, factors critical to winning business. A solution that assigns roles and functions to members of a proposal team helps keep common RFP questions and answers regularly updated and approved. This automated capability leads to better proposals.  
  3. RFP automation is impactful- The solution has tremendous time savings and productivity benefits for the user. Mundane tasks that took hours to complete are automated in minutes with data driven results. The automation of mundane tasks allows the user to focus on higher- value projects that require strategic human touch.

RFP Automation Software Statistics:

– A recent study of chief procurement officers (CPOs) indicated that 33% of procurement leaders have adopted digital procurement strategies.

– A recent report indicates that 54% of CPOs surveyed believed that analytics will have the highest impact on business in next two years.

– A recent study estimates that by 2065, automation could increase productivity by up to 1.4%. To put that statistic in perspective, it is twice the gains of productivity compared to early IT advancements.

Why Adapt RFP Automation Software?

The future of RFP automation software is bright amidst the automation of businesses and society. It is imperative to innovate or die for proposal managers because the future of procurement is data analytics. It is the data that holds the answers to the legacy of automation. As data is more easily captured and analyzed, its insights are used to predict customer demands, track trends and buying cycles. That is analytical power revolutionizing the proposal management workflow and industry with just a few clicks.

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