calculate your roi

Even with the a growing amount of technology options, the majority of companies are still using a manual process to respond to RFPs. This time-consuming process of hunting through documents and spreadsheets for past responses when a deadline is looming can be a lot of pressure for any team.

Improve Your Win Ratio with RFP Automation

Issuers are putting out increasingly complex RFP’s, and answering them requires someone to lead the way and to collaborate between multiple SMEs to capture the responses. Most of us know that a well-executed response has a higher chance of winning than a hasty proposal that is rushed out the door.

Poorly executed RFP responses result in low close rates—typically less than 5%—an investment that is off-balance when you calculate the required time and resources. And though the right RFP response at the right time has the power to win new business, team members are aware of the low probability of a win and often push RFPs aside in favor of other priorities that don’t seem like a wasted effort to them.

It’s an understandable dilemma, but one that is possible to overcome. One of the best ways to increase efficiency of the process and improve your win ratio is to invest in RFP automation.

Make a Case for a New Addition to Your Sales Stack

As technology stacks grow, proving the case for adding another tool is a necessary step. A good place to start gathering the numbers is to calculate the return on investment, and see how much the manual process is costing your team.

A client of ours, Josh Itzoe, Partner and Managing Director at Greenspring, found his team was spending 20-40 hours of work per RFP response. By tracking the effort his team was putting forth, he was able to make a case for RFP software.

We know time is at a premium for most people in business these days—and pulling together the data to back up your story can be stressful to think about—so we created this handy ROI calculator to help get you started!

Simply enter details specific to your situation and let our calculator easily estimate your potential savings with the right solution.

CALCULATE YOUR ROI

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RoleHead CountHours Per RFPCost Per hr


*Our clients report an average time savings of 40% while using RFPIO, allowing them to focus on more important tasks.

Annual Savings with RFP Automation

$500

20 hrs

Cost Comparison

Hours Comparison

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As the CEO and Co-Founder of RFPIO, Ganesh Shankar strives to change the RFP response approach, with cloud-based automation technology that helps businesses increase close rates through quality responses and intelligent processes. A highly experienced Product Manager, Ganesh has successfully implemented software at Fortune 500 enterprises. It was in this role, surrounded by the inefficient method of Request for Proposals, that he chose to pursue a dream and create RFP management software that would positively transform the way companies do business. Connect with Ganesh on LinkedIn and Twitter.

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