Proposal managers are the unsung heroes in many companies. Words couldn’t be truer, and we were happy to hear APMP’s Christina Lewellen speak them when we interviewed her about the state of the proposal management industry.
The daily pressure of being a proposal manager is a real thing. If you’re leading the RFP response charge at your organization, you probably feel like you’re on your own island sometimes.
On top of that, proposal management resources can be very hard to come by when you’re looking for support in your role. Which is why we created this special round-up of stats and insights just for you.
RFP response is so much more than many realize, involving everything from project management and collaboration to content management and knowledge sharing. Here are 20 important stats you need to know, and how RFP software empowers you to become a better proposal manager.
RFP project management
- “PMOs that continue in the conventional manner do so at their peril: by 2020, proactive PMOs are expected to replace most (if not all) of their passive counterparts.” – Gartner
- “72% still track project status manually, via spreadsheets or similar tools, illustrating continued reliance on legacy methods. A third of respondents (32%) point to collaboration as the most difficult aspect of managing their project teams” – Changepoint
- “44% of project managers use no software, even though PWC found that the use of commercially available PM software increases performance and satisfaction.” – PricewaterhouseCoopers
- “75% of senior executives said investing in technology to better enable project success was a high priority in their organization.” – Project Management Institute
How RFP software helps with project management…
RFP response is predominately project management, especially for proposal managers who spend their days wrangling all the moving parts and contributors needed for a successful deliverable.
RFP software empowers you with technology to get the job done efficiently. Track real-time progress of RFP projects in a clean project overview dashboard and see when sections are assigned, completed, and reviewed.
RFP project collaboration
- “Distribution of collaborative work is often extremely lopsided. In most cases, 20% to 35% of value-added collaborations come from only 3% to 5% of employees.” – Harvard Business Review
- “Miscommunication costs businesses $37 billion (or $26K per employee) in the U.S. and U.K. every year.” – Mitchell Communications Group
- “86% of executives identify ineffective collaboration and communication as a major cause of failure in business.” – Salesforce
- “Today’s average proposal management team consists of: 1 person (6%), 2-5 people (33%), 6-10 people (24%), 11-20 people (16.5%), 21-50 people (12%), more than 50 people (8.5%).” – APMP
How RFP software helps with collaboration…
As every proposal manager knows, responding to RFPs is a team effort. RFP software makes communication much easier between you and your SMEs. Use @-mentioning for clarifications and collaboration, or enjoy integrations with well-loved platforms like Slack and Salesforce.
The result is less back-and-forth email and fewer meetings—and more time focusing on delivering a quality RFP project.
RFP response knowledge sharing
- “Only 20% of companies believe their knowledge sharing efforts are effective. And, only one-third of organizations have a defined corporate knowledge sharing strategy.” – Brandon Hall Group
- “Workers spent up to 25 minutes looking for a single document in over a third of searches conducted. In 80% of cases it took up to eight attempts to find the right information.” – SearchYourCloud
- “44% of employees are ‘poor or very poor’ at transferring knowledge.” – Ernst & Young
- “Workers spend nearly 20% of their time looking for internal information or tracking down colleagues who can help with specific tasks. A searchable record of knowledge can reduce, by as much as 35%, the time employees spend searching for company information.” – Mckinsey Global Institute
How RFP software helps with knowledge sharing…
Document silos will no longer exist in your RFP response process, allowing for greater access to company information in a centralized RFP content library.
RFP software promotes knowledge sharing for you and your entire organization. Everyone will save time by finding the best content in seconds with intelligent search.
RFP content management
- “According to 1,000 content professionals, top content management challenges are: time (58%), management (14%), planning (14%), communication (11%), approvals (3%).” – ClearVoice
- “27% rated project management flow during the content creation process as ‘fair,’ revealing that some projects moved along efficiently but they faced bottlenecks.” – Content Marketing Institute
- “Sales reps average about 43 hours a month searching for information or content.” – Aberdeen
- “The 2017 Martech Supergraphic revealed organizations are using 5,381 solutions, a 40% increase from the previous year. One of these marketing technology solutions is RFP software, but only 16% of teams are using this technology to streamline their RFP response process.” – Chiefmartec and RFPIO
How RFP software helps with content management…
There is a lot of pressure with responding to RFPs, being that new business rides on quality and timeliness of the deliverable. RFP software has several benefits when it comes to managing content more effectively.
In addition to centralizing information and promoting a collaborative environment, ensure only the best responses are available for SMEs to grab and go by scheduling content audit reminders. Leverage sequential reviewing for a smooth review process for contributors and marketing.
RFP response efficiency
- “In contrast to small projects, which have a greater than 70% chance of performing well, a large project has virtually no chance of coming in on time, on budget, and within scope.” – The Standish Group
- “At many companies 80% are spending their time in meetings, on the phone, and responding to emails, leaving employees little time for all the critical work they must complete on their own.” – Harvard Business Review
- “85% of proposal managers work over 40 hours a week, with 11% working over 50.” – APMP
- “84% said they waste more than an hour a day on manual data input, often entering identical data into multiple programs. 76% of managers spend at least an hour a day preparing reports and presentations.”- Changepoint
How RFP software helps with efficiency…
Ask most proposal managers why they lose sleep at night, and they will likely blame the importing and exporting process with RFPs.
RFP software ensures that you start each project off on the right foot, then end with a brilliant finish. Import from any possible source—docs, spreadsheets, even PDFs—and export back into your original source or customized template.
Life is never easy for a proposal manager and we salute you for your efforts. Rest assured that there is plenty of technology available now to help you manage the RFP response process like a pro.
Ready to become a better proposal manager this year? Schedule a demo of RFPIO to start shining in your role.