What response management software can do for your revenue team

Since we started RFPIO, we have been on a mission to help RFP responders succeed. We have been a leader in this relatively new technological space, one of the first to bring efficiency to responders who had lived with a manual approach to everyday business.

As we move into a new year, we are redefining the way our solution supports everyone across the organization. Though our origins are rooted in helping teams respond to RFPs, what we began to notice along the way was the many use cases for our software.

To support you and your revenue team, let’s look at the vast potential of response management software like RFPIO. You’ll walk away with a more strategic approach to response management.

What is response management software (RMS)?

Response Management Software (RMS), helps companies create, manage, and automate responses to both long-form and short-form business inquiries at any stage of the sales cycle. These inquiries can range from formal business requests issued by buyers such as RFPs and Security Questionnaires, to informal questions submitted by prospects through chatbots or from customers through support tickets.

Response Management Software serves as an internal knowledgebase, integrating with CRMs, Content Management Systems (CMS), and Collaboration tools to capture and democratize subject-matter-expertise and content across multiple teams, business units, or companies.

RFPIO is the leading solution in response management, having pioneered the most advanced technology for RFP responders over the past several years. With process and technology improvements, responders are able to create higher quality responses and additional revenue opportunities.

RFP software vs. response management software

RFP software is fairly one dimensional in that responding to RFPs is the primary use case. With response management software, the technology supports many use cases. Content can be repurposed for responding to a multitude of business queries—RFx (RFP, RFI, etc.), statements of work (SOW), security questionnaires, CAIQ and grants.

In addition, organizations who think outside the box use our solution to store anything from sales follow-up email templates to onboarding materials. Content is engrained in all of our business processes. Response management software helps you organize, store, and execute from a single source of truth.

A response management software like RFPIO:

  • Is cloud-based, so you don’t have to navigate a maze of documents and folders—and find ways to store your content.
  • Uses patented import technology and exports back into templates and originals files to start and finish each project smoothly.
  • Includes a dynamic answer library, which serves as the hub for all of your organization’s content and company information.
  • Has an AI-powered content recommendation engine that makes finding your best responses easier.
  • Offers bi-directional integrations with your team’s favorite technologies, along with an open API, so everyone and everything is connected.
  • Allows you to search, select, and store answer library content across all web pages and applications through a Google Chrome extension called RFPIO Lookup.
  • Brings clear and instant visibility with reports and dashboards that help you track project status and progress and discover insights to make data-driven decisions.
  • Helps you respond to ANY type of query faster.

Let’s say you are a sales manager at an enterprise technology company with a high stakes deal on the table. The prospect you’ve been working with sends you a large security questionnaire, along with a DDQ (Due Diligence Questionnaire) that you must turn around by the end of the week.

Resources are spread very thin right now. You must complete the majority of the questionnaire on your own and engage subject matter experts (SMEs) sparingly. You have several new deals in the works that require your constant attention. You’re not sure how you’ll pull this DDQ and security questionnaire off before the deadline while keeping other opportunities on the right track.

Response management software allows you to manage multiple queries at once. You can handle the entire family of possible requests during the sales process—the RFP (Request for Proposal), RFI (Request for Information), or DDQ (Due Diligence Questionnaire).

For the security questionnaire, use bulk answering to knock out sections at a time then call in your SME to fill in gaps and sign off. While all of this deal is in motion, you continue to nurture other prospects using RFPIO’s answer library to populate follow-up emails with relevant communication and high-performing sales content.

You submit everything with time to spare and keep moving other deals forward. That’s the difference between response management software and RFP software. This technology supports you throughout every stage of the deal. And, it’s there whenever you need support for other business queries that come up.

Strategic response management across revenue teams

Today’s revenue team isn’t the sales team alone. Revenue teams include sales, marketing, support, and customer success. To improve response management across revenue teams, it is equal parts process and technology.

Creating a great process is always step one. What we find is that even with the best technology, teams need to be united by a strategy in order to maximize the features and capabilities of the very technology their organization invests in. We recently created a user adoption strategy to help.

If you are leading the charge with user adoption, it’s important to know the benefits of the software and how one solution can be used in multiple scenarios and initiatives. Below we have outlined the many use cases of our response management solution.

This breakdown will help you understand the diverse capabilities of RFPIO. If you are an existing client, you will find new ways of using the solution. If you are searching for a comprehensive content management platform, you will see the many possibilities that will exceed your organization’s response and query needs.

RFx

RFPIO can be used for any RFx project. This includes an RFP (request for proposal), RFI (Request for Information), RFQ (Request for Quote), or a DDQ (Due Diligence Questionnaire). Some or all of these RFx documents come and go throughout the sales process.

Our response management solution allows you to respond to any of these documents in a collaborative ecosystem, making the process easier and efficient for your organization’s many contributors.

Security Questionnaires

A security questionnaire comes in many forms – Security Questionnaires Lite (Standardized Information Gathering Questionnaires), VSAQ (Vendor Security Assessment Questionnaire), CAIQ (Consensus Assessments Initiative Questionnaire), and VSA (Vendor Security Alliance Questionnaire), NIST 800-171 (National Institute of Standards and Technology Questionnaire
CIS Controls).

One thing they all have in common? They are complex and time-consuming, without the right tools.

RFPIO greatly reduces completion time for buys teams, with auto-response and bulk answering doing the majority of the work upfront. This extra time allows teams to perform their due diligence with accurate responses that meet the issuer’s requirements.

After the responses are ready, teams export responses back into the original sources with clean data, eliminating the need to wrestle with editing and formatting.

Marketing Content

Often marketing teams think their involvement with response management software is limited to the RFx process. They come in at the end to perform a buff and polish, to prepare the deliverable.

Because RFPIO is a content management platform at its core, marketing teams can use the solution to store and create content, such as—brand guidelines, testimonials, press releases, and award submissions.

SOWs

To present the scope for a highly complex project, response management software is extremely useful for SOWs. Rather than using various documents and spreadsheets to piecemeal sections together, section templates offer standard content that can be reused and customized.

From content creation to the review process, the SOW workflow is easier when everyone has one tool to operate inside.

Grants

Time is money for any business, especially a non-profit who needs to stretch their budget and resources. With grant writing, teams strengthen their content by using the answer library to search and select the latest stats and financials.

Often sign-off from an executive or board of directors is needed with grants, and sequential reviewing clarifies the chain-of-command throughout this completion process.

Onboarding

RFPIO allows unlimited users, promoting wide-scale adoption throughout various departments, including human resources, support, and customer success teams. Because very little training is required, all teams can jump into the tool and customize it for their needs.

Organizations often use the solution to support their hiring efforts, as the content repository simplifies the constant need to add and update onboarding content. The same applies to support and customer success team members who need to be quickly brought up to speed.

Discovery Calls

Since RFPIO offers a single source of truth, sales teams lean on the power of the answer library every day for many other tasks outside of responding to RFx documents. An SDR can keep RFPIO open on his or her computer screen during discovery calls to find any company or product information immediately.

This ability makes sales teams nimble and confident during the discovery process. The prospect leaves the call informed and interested.

Proactive Proposals

To sell within a highly competitive industry, sales teams will sometimes turn to proactive proposals to beat their competition to the punch. Minimal effort is needed to pull together a proactive proposal within our response management solution.

Sales teams use the top content feature to select the best responses, then export everything into a branded, cleanly formatted template.

Sales Emails

The need for speed is perhaps the motto for any salesperson completing sales-related tasks. RFPIO Lookup recommends email content to help sales teams answer prospect questions.

When using a Google Chrome browser, this feature allows sales to access responses across web pages and applications. They grab the information they need and include it within the email, without losing time to hunt down the answer.

Knowledge Sharing

It would behoove us not to mention knowledge sharing as a whole. RFPIO’s answer library serves as the single source of truth for the entire revenue team: sales, marketing, support, and customer success.

Information silos disrupt your response workflow. Foundational company knowledge ends up in a variety of documents, from visual slide decks to data-heavy spreadsheets—stored on shared drives and folders. Rather than team members feeling they can’t access the information they need, RFPIO makes all necessary content available and ready so everyone can do their best work.

I always like to say: “Recycle, reuse, don’t reinvent.” Response management software allows you to put this mantra into action, so your organization spends more time on refinement and less time on repetition. With this advancement in your response process, your team will produce quality content that results in opportunities, revenue, alignment, and teamwork.

Start your year off with a strategic approach to response management. Schedule a demo of RFPIO.


Ganesh

Ganesh Shankar is CEO and co-founder of RFPIO, the leading cloud-based response management platform. Together, with his co-founders, Ganesh has pioneered the most advanced technology for RFP responders, helping revenue teams respond to queries with maximum efficiency while creating higher quality responses and additional revenue opportunities. Connect with Ganesh on LinkedIn and Twitter.

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