How Tech Companies Can Drive Revenue with Proposal Software

As a tech company, your bid team and sales organization are tasked with creating RFP responses, SOWs, InfoSec questionnaires, and sales proposals and presentations on a regular basis and at high volumes. Have you equipped your people with the tools and best practices to make sure your organization’s response process is quick, accurate, and free from collaboration headaches? And most importantly, are you consistently winning business with personalized, branded documents that stand out from the crowd?

Supporting your revenue teams

Let’s start with a few basics:

1. Don’t let your RFP response team struggle with manual processes and content spread across disparate folders, directories, and departments.
2. Make sure your sales team is armed with the tools to create winning proposals in the face of tight timelines and fierce competition.
3. Don’t keep team members in the dark about how buyers are interacting with their sales proposals, RFP responses, and other sales documents.

The common denominator for a successful critical response process is the adoption of proposal management software. By automating the response process with proposal and RFP management software, your bid and sales teams can scale response production, track prospect engagement with in-depth analytics, and, most importantly, increase your win rate.

Did you know a recent benchmark survey of RFP software users found that 64% of respondents felt a positive impact on RFP win rate—with a 59% median increase? What are you waiting for?!

Automating the response process with proposal software 

The sales response process can be a time-consuming and frustrating activity without the right tools and systems. Did you know responding to an RFP involves an average of 28 people and takes 7.6 days to complete? Plus, approximately 20% of RFP responses aren’t completed due to time constraints and other restrictive factors. This shortfall represents $813K median annual lost revenue for tech companies!

Proposal development software is the answer to keeping up with the intense volume of requests that flow through your revenue teams every week. AI-driven proposal software streamlines and expedites the process of crafting a wide range of sales documents, creating a fast and frictionless response process that supports easy and efficient collaboration and accelerates the sales cycle. To speed up workflow, the best proposal software includes smart templates for all of the sales documents tech companies frequently use—RFP responses, IT proposals, security questionnaires, RFQ responses, and statements of work (SOWs).

Quality vs. quantity

While the ability to respond efficiently to RFPs and produce a steady stream of proposals is important, the quality of documents is critical to the ability to win business. Without high-quality, personalized, and branded sales documents, speed becomes irrelevant because you’ll never get the sale. Indeed, sloppy proposals rife with outdated, inaccurate information or content that doesn’t reflect the unique needs of the buyer and their challenges will kill the deal faster than you can say ‘adios cashflow’.

Thankfully, your proposal management solution is on the job, helping you to create outstanding, professional response documents that will wow prospects—all while reducing the time it takes to complete the response and helping you get more responses out the door.

In fact, 77% of respondents of a 2021 benchmark survey feel that proposal software has had a positive impact on the quality of their responses. (Not to brag but 91% of QorusDocs users stated that QorusDocs is effective, or highly effective, in improving the quality of their proposals.) Plus, 70% of survey respondents were able to process more requests using proposal writing software, with a 54% median increase in volume of requests processed.

The bottom line is that using proposal management software to power your response process translates to more sales and greater profits. Now that you understand the powerful benefits of proposal and RFP software for tech companies, you may be wondering where to begin. We’re here to help.

We’ve got answers

To get you started, we’ve created The Pocket Guide to Using Proposal Management Software to Win Business: Best Practices for Tech Companies. In this guide, you will:

• Discover tips, tricks, and tools for creating an accelerated and efficient sales response process  
• Learn the framework and best practices for creating winning RFx responses and sales proposals despite tight timelines and high volumes
• Access user-friendly templates and checklists for proposals, SOWs, InfoSec questionnaires, and responses to RFPs RFQs 
• Understand how to use AI-powered proposal management software to automate the response process and boost win rates

Our primary objective at QorusDocs is to automate and accelerate your RFx response process to make life easier for your bid and sales teams while simultaneously increasing your win rate. And you’re in luck because The Pocket Guide to Using Proposal Management Software to Win Business is designed to help smooth your way along this revenue-generating path. Download your copy today!

For even more insights into how proposal software can help you meet your sales goals for 2022, check out our new guide: 8 Reasons Your Enterprise Sales Tech Stack Needs Proposal Management Software.