The legendary Ted Lasso once said, “Takin’ on a challenge is a lot like riding a horse. If you’re comfortable while you’re doin’ it, you’re probably doin’ it wrong.” Proposal managers can relate, especially staring down the end of a pandemic-induced paradigm shift in collaboration, automation, and workflow.
Digital transformation in response management has replaced proposal managers’ old challenges with new ones. Gone are the days of stalking cubicles of salespeople and subject matter experts (SMEs) to keep a proposal on track, manually completing questionnaires, and storing content in file cabinets or on shared drives. Enter the challenges of working remotely, videoconferencing fatigue, and high expectations for personalized proposal content.
What can you as a proposal manager do to stay on top of a dynamic response management industry? Before you consider your next automation solution, team addition or subtraction, or learning opportunity, make a decision based on some facts. We took the liberty of gathering 20 of them for you here.
RFP project management
- “Only 43% of respondents report using RFP-specific technology today.” Organizations not using RFP-specific technology rely more on email, spreadsheets, content storage, and e-signature tools” – 2021 Benchmark Report: Proposal Management
- “57% of proposal managers said their primary goal is to improve the proposal management process over time.” – 2019 RFPIO Responder Survey
- “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
As we see it, the trend for proposal teams is to break even on headcount while relying on automation and collaboration to increase productivity. Doing more with less is nothing new to proposal managers, and RFP software can help accelerate response time, centralize content management, and unify collaboration. In one case, it helped to triple RFP volume and reduce turnaround time by 40%.
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
- “78% of survey respondents expect the amount of remote work to increase post-pandemic from its pre-pandemic levels.” – Verizon
- “Organizations with dedicated proposal professionals submitted 3.5X more responses in 2020.” – 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
The way we work is changed forever. Whether you’re back in an office or embedded as a remote worker, you’ll be designating responsibilities that team members can accomplish onsite, on the road, or at home. We’ve all grown more familiar with remote work tools and have our respective cheers (e.g., accessibility) and jeers (e.g., too accessible). The upside is that your team will be able to adapt quickly to RFPIO’s @-mentioning functionality and its integrations with Slack, Salesforce, and more.
RFP response knowledge sharing
- “The latest edition of Deloitte’s Global Human Capital Trends study ranks ‘knowledge management’ as one of the top three issues influencing company success, yet only 9 percent of surveyed organizations feel ready to address it.” – Deloitte
- “40% of survey responders use RFPIO to manage company knowledge.” – 2019 RFPIO Responder Survey
- “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.” – Mckinsey Global Institute
Whether the proposal is being proactively generated by sales to get their foot in the door or reactively created for an RFP, you want the brand, expectation-setting, and peace-of-mind benefits of knowledge sharing from the RFPIO Answer Library. Make this dynamic warehouse of Q&A pairs and content available to everyone in the organization through our unlimited license model. Even as a small team, you can respond to multiple RFPs simultaneously, scaling with the personalization necessary to merit serious consideration.
RFP content management
- “Companies with a designated RFP solution are 32% more likely to have strong content moderation procedures in place, with 90% reporting this being a priority for them.” – 2021 Benchmark Report: Proposal Management
- “The most frequently cited typical approach taken by content creators in their business (43%) was project-focused – content is created in response to internal requests.” – Content Marketing Institute
- “If searching is difficult and the results are not highly valued, workers lose trust in the knowledge systems. This, in turn, makes them less willing to share personal knowledge in those systems, which reduces the quality of the content.” – Deloitte
- “50% of proposal managers said keeping response content up-to-date and accurate is their biggest challenge.” – 2019 RFPIO Responder Survey
Second only to win rate, content carries the most weight when judging whether a proposal manager is a hero or a villain. How it’s created, maintained, stored, and accessed has a direct or indirect impact on almost everyone in the organization. Sales wants accurate, innovative content yesterday. Support wants content that accurately reflects service level agreements. Marketing wants content to be on-brand.
If you’re using RFP software, then you’ve gone to great lengths to curate the content library used to automatically populate proposals. Why not make that content available to the whole organization? With RFPIO Lookup, you can add a portal into your RFPIO Answer Library from everywhere your users work.
82% of our customers said managing response content all in one place is the primary way RFPIO helps them achieve success. Global organizations can take further advantage of separate content collections relevant to their region, which is especially beneficial for multilingual content.
RFP response efficiency
- “On average, organizations with a designated RFP technology submit 306 proposals a year, while those without submit only 210 — a difference of nearly 43%.” – 2021 Benchmark Report: Proposal Management
- “86% of salespeople are looking for opportunities to shorten the sales cycle to close more deals. 79% of marketers are focused on using automated technology to execute more with less resource strain. 65% of subject matter experts aspire to increase efficiency through better processes.” – 2019 RFPIO Responder Survey
- “85% of proposal managers work over 40 hours a week, with 11% working over 50.” – APMP
- “Solutions based on natural language processing/generation and robotic process automation can help reduce the time it takes to draft requests for proposals (RFPs) by up to two-thirds and eliminate human error.”- McKinsey & Company
Efficiency is the numero uno KPI for RFP software. The benefit you realize depends on how you re-invest time saved through efficiencies achieved by state-of-the-art automation, knowledge management, and collaboration capabilities. For example, Lauren Daitz, Senior Manager of the Proposal Department at HALO Recognition, said about RFPIO, “We’re up 25% over our average volume for the last six years and our staffing is down 50% at the same time. And we were still able to deliver every RFP on time or early and with 100% accuracy.”
Proposal managers can never be satisfied with the status quo. Always look for new opportunities for learning and growth. As competition increases and digital transformation continues, it’s either move forward or fall behind.
Like Ted Lasso says, the happiest animal in the world is a goldfish because it only has a 10-second memory. Be a goldfish. His wit and wisdom know no bounds.
If you’re ready to learn how RFPIO can help make you a more effective proposal manager, schedule a demo today.