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Best new product features for 2022

Best new product features for 2022

We all knew that 2021 was going to be a major upgrade to 2020. There was nowhere to go but […]


Category: Tag: RFx platform

Best new product features for 2022

Best new product features for 2022

We all knew that 2021 was going to be a major upgrade to 2020. There was nowhere to go but up. But, wow, it ended up being a huge leap forward for RFPIO and our customers. Here are the 2021 RFPIO new product feature highlights that will make 2022 a banner year for all RFPIO users.

RFPIO® LookUp activated knowledge management

Answer Libraries everywhere came alive when RFPIO® LookUp released in early 2021. The ability to search your Content Library without leaving any of these applications…

  • Microsoft Word
  • Microsoft Excel
  • Microsoft PowerPoint
  • Microsoft Outlook
  • Chromium Edge
  • Google Chrome
  • Microsoft Teams
  • Slack
  • Google Hangouts

…put curated, response-ready knowledge at the fingertips of every RFPIO user with the integration.

“We were able to retire a Business Applications chatbot we built for the field. RFPIO® LookUp is available right from Microsoft Teams and surfaces content from all of our content collections without the maintenance overhead.”
-Vicki Griesinger, Director of Business Strategy, Worldwide Public Sector at Microsoft   

Autograph accelerated response and increased control

Autograph is a new standalone e-signature module, easily accessed from your RFPIO interface. With Autograph, any RFPIO user can upload and sign documents themselves or prepare and send documents for signature to colleagues or external non-RFPIO user contacts.

The RFPIO dashboard allows you to keep track of document status at a glance and maintain a record of signed documents.

Our unlimited user model means that folks elsewhere at your organization can take advantage of this. For example, contract teams and legal teams could acquire signatures on NDAs and other agreements with Autograph.

I highly recommend you give Autograph a spin in 2022 if you didn’t get a chance to try it in 2021!

Step 1: Open the document for signing

New Projects experience improved usability

We snuck this one in just under the wire in December 2021. The New Projects experience provides major upgrades to usability, including:

  • A Recent Projects bar that shows what you’ve been working on most recently.
  • New functionality to sort and filter the projects list.
  • Freedom to customize the columns displayed on the projects list.
  • The ability to customize the number of items on the page and click the left and right arrows to move through the list.
  • The new My Work option allows subject matter experts to only see questions assigned to them and move through questionnaires more quickly.
  • Customization options allow for a Projects table view that makes the most sense for you.

New Projects makes experienced users more productive and helps new users get up to speed faster.

RFPIO University launched, providing expansive online user training

With every product upgrade comes new best practices on how to get the most out of it without compromising your current experience. RFPIO University is our new platform for communicating those best practices so experienced users can easily stay up to date and new users can target what they need to learn first.

RFPIO University offers Content Management and Project Management learning paths where users can build knowledge incrementally through short online video sessions. It also includes microlearning videos for quick tips on features such as answering questions or assigning authors. The training platform is free to all RFPIO users.

RFP360 acquisition brought RFP management full circle

RFPIO closed the loop on the response management lifecycle with its acquisition of RFP360. The move strengthened RFPIO’s position as the leading provider of response management software, while expanding RFPIO’s offering to include a strategic sourcing solution, bringing to market the most efficient and proactive request for proposal (RFP) solution.

For companies that both issue and respond to RFPs, unifying purchasing and response functionality through a single provider offers many efficiencies.

Most popular customer request? Spelling & grammar check!

The most popular product update request from customers was for the ability to check spelling and grammar within RFPIO. I’m happy to say that through the basic and full rich text editor you can now scan for spelling and grammatical errors. Proofreading just got a whole lot easier!

More product update highlights from 2021

Many other updates resulted from your feedback, via the “SUBMIT IDEAS” button in the bottom left of your RFPIO UI. In fact, more than 900 updates came from you! Thank you! This process really emphasizes the value we place on community, and RFPIO wouldn’t be the G2 leader three-years running without our customer support.

Submit Ideas

To learn more about the following 2021 updates, check out my webinar. Some are now application defaults, some can be turned on or off, and some are available for an additional fee. Reach out to your account manager if you have any questions.

  • Guest Response Portal: Simplified user experience for external SMEs who need to respond to a question but don’t have an RFPIO account.
  • Microsoft Word Import/Export Formatting: Table style and list formatting now imports. Checkboxes import and export, too.
  • Content Library Custom Field: Mark as mandatory or optional to quickly categorize and organize content.
  • Content Library Merge Tags: Enhanced to display the value name instead of the name of the tag. For example: [ClientName] would now display the client’s actual name.
  • Rich Text Styles Toolbar: Find and apply styles easier and quicker.
  • Teams as Content Owners and Moderators: Teams can be assigned to content in the Content Library and Content Library with content owner and moderator privileges. There’s an option to indicate if content needs to be reviewed by any team member or all team members.
  • Highspot Integration Update: As an expansion to the Highspot integration, users can now export response packages from RFPIO into Highspot.
  • Export Response Package to Cloud Storage: Responses from a project can now be saved to cloud storage services, allowing you to store the content in folders on Dropbox, Google Drive, or OneDrive.
  • Whistic Integration: If you respond to a lot of security questionnaires…from their Whistic interface an RFPIO user can select the RFPIO Create Project button to create a mirror questionnaire in RFPIO. Then, users can complete the questionnaire in RFPIO (where they can access all the curated content in their Content Library) and when done, sync the completed questionnaire back to Whistic with the click of a button.

To learn more about all of these updates, please visit the Help Center or contact your account manager. Be sure to stop by RFPIO University for on-demand video sessions on implementing best practices around these features, including for importing, exporting, Merge Tags, and much more!

What is RFx? Do the math for sales and procurement

What is RFx? Do the math for sales and procurement

What is RFx? In this case, it’s proof that Mrs. Vickers, my pre-algebra teacher, was right. She assured me that algebra would come in handy in my adult life. It only took 35-ish years, but it turns out Mrs. Vickers’s crystal ball wasn’t so foggy after all.

Back to the original question: What is RFx? It’s the shorthand for your “Request for” category of procurement and sales processes and documents. Solve for x.

  • RF(Proposal)
  • RF(Information)
  • RF(Quote)
  • RF(Application)
  • RF(Bid)

Explanations and definitions of these are insightfully encapsulated here (processes) and here (glossary). However, if you want an overview of how you can use any of these RFx varieties for your business — either in procurement or business development, then you’re in the right place.

Using RFx for procurement

If you use RFx for procurement, then you’re the issuer creating the RFx. Typically, you’ll submit requests in the following order:

  1. RFI
  2. RFP
  3. RFQ

Ultimately, you want to play your RFx cards to select an ideal vendor using strategic sourcing. The RFI will be high level, probing to see if a problem can be solved. It will help narrow down providers to whom you’ll want to submit the RFP, which will be much more detailed and a heavier lift for you to evaluate.

Your RFP will ask for in-depth problem analysis, what it will take to solve the problem, how a vendor proposes they’ll solve the problem, proof of solving similar problems in the past, and, possibly, an estimate on cost. It may also inform responders how responses will be evaluated (e.g. cost = 35%, experience & performance = 35%, response quality 30%), budget expectations, and timing details.

From your pool of RFP responses, you’ll submit an RFQ to one or two providers to finalize your costs. At this point you know the exact product or service that you want so you request a price quote for that specific solution.

“RFB” is also known as “invitation to bid.” While this terminology does appear in the U.S., it may be more common internationally, where issuers post “tenders,” and responders submit “bids” in response to those tenders.

RFAs are associated with government agencies and nonprofit organizations. Funding has already been set aside for a specific requirement and now agencies or organizations are seeking recipients of funding. Agencies want to solve a very specific problem, such as building the capacity for drinking water systems. Nonprofit organizations have grant money available and seek applications to distribute the grant, such as for placing veterinarians in underserved areas.

Using RFx for business development

For the 69% of salespeople who do not have enough leads in their pipeline, RFx opportunities are an opportunity to drive revenue. When you use RFx for business development, then you are the RFx responder. Response teams require expertise from multiple areas, including sales, product development, product marketing, finance, contracts, and more, depending on the product or service you sell. It’s up to you to respond appropriately in an attempt to put your product or service at the top of the list for RFx issuers.

If you’re lucky, then you have a unified content repository of some sort to reference for your responses. Many sales professionals still work from personal content libraries they’ve amassed on their own, which is problematic for brand management and onboarding new employees. If you’re even luckier, then you represent one of the 43% of organizations using RFP-specific software, which helps automate response processes.

Responding to an RFI will get your foot in the door. Hopefully, it’s something you do regularly and doesn’t take up a lot of bandwidth, for you or any other response team members. This will be early on in the sales process, possibly too early to even count toward your pipeline. When an RFx is not certain of gaining revenue, then you want to minimize resources spent on responding.

However, once you’re selected to respond to an RFP, you can add prospective revenue to your pipeline. This will also be the largest investment as far as resources that you’ll commit to responding to an RFx.

The RFP is your opportunity to lay all your cards on the table. Show the issuer what you can do, how you can do it, and why you can do it better than anyone else. Expect to be evaluated on your experience, your price tag, and the quality of your response. By evaluation, I mean you’ll be measured against all other responders in as much of an apples-to-apples comparison as the issuer can comprise based on the complexity of the response.

The RFQ will be the final deal number, if it wasn’t already requested in the RFP. It will highlight the solution you’re providing within the issuer’s budget. If your solution comes standard with additional functionality beyond the scope of what the issuer originally requested (e.g., integrations with other software, free training, or VIP support), the RFQ is a great opportunity to call that out.

What is RFx automation?

RFx automation reduces the manual processes required to issue and respond to any RFx. For issuing, RFx automation streamlines how requests are created and organizes the evaluation process for you. For responding, RFx automation uses artificial intelligence to Auto Respond to any RFx based on content in your Content Library. Organizations that use RFP-specific software are not only able to respond to 43% more RFPs than those without a designated RFP tool, they’re able to turn around each response 40% faster.

RFx response automation can also extend to responding to security questionnaires, due diligence questionnaires (DDQs), scopes of work, and whatever else you may be requested to respond to in your sales or client support lifecycles. The functionality can also serve you well for proactive proposals, where you need to deliver a proposal or presentation even though one wasn’t specifically requested. This is common in business proposals when a prospect wants something in writing to share with management or the C-suite to build a business case for adding your solution.

Whether you want to use RFx for procurement or business development, if you’re going to do it for the long term, then RFx automation will be a boon to your workflow, morale, and bottom line. The math works out. Mrs. Vickers says so. Learn more about AI-enabled RFx management by scheduling a demo.

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