How RFP proposal software can maximize consulting firms’ billable work

How RFP proposal software can maximize consulting firms’ billable work and support client demands
Jennifer Tomlinson
Written by Jennifer Tomlinson / Jun 29, 2022

As Executive VP of Marketing, I work to identify business needs and help QorusDocs’ clients generate revenue more effectively and efficiently. I spearhead efforts to increase brand awareness through digital marketing and client engagement.

Currently, 38% of companies do not have enough employees with the skills needed to efficiently manage operations. As a result, more than a quarter of businesses are turning to consulting firms for support as client business, taxing workloads, and labor shortages continue to soar.

However, despite this surge in demand for consulting services, firms are facing labor shortages of their own, with two-thirds of firms reporting they are incredibly short-staffed. During this challenging time, it’s essential firms have the tools needed to streamline non-billable work so they can focus on billable activity and client work.

With 25% of consulting companies reporting that sluggish adoption of new technology is one of the main factors impacting their ability to keep up with demands and new client opportunities, it’s time for firms to streamline tech adoption to keep operations flowing during this difficult time.

Consulting companies should consider implementing proposal management software into their everyday operations. RFP proposal software not only reduces non-billable work for understaffed firms but also equips teams with data analytics that support competitive proposal creation and cloud-based tools that enable seamless team collaboration.

Reduce non-billable work with automation

According to Deloitte, 70% of businesses have turned to an outsourcing partner for cost reduction due to the COVID-19 pandemic’s impact on labor. This shift has led to a demand for external services such as consulting, resulting in a push for the automation and digitization of time-consuming, non-billable tasks such as RFP management.

Proposal software can be a powerful tool for teams looking to streamline non-billable work so they can get back to focusing on client-facing operations. Many proposal building platforms, such as QorusDocs, leverage automated tools like auto-fill, intuitive integrations, and up-to-date content libraries to produce personalized responses without teams having to start from scratch or search aimlessly for specific information.

Additionally, proposal building software updates and stores the latest content seamlessly, allowing teams to develop proposals without worrying about work or information disappearing. As a result, teams can more efficiently create proposals, mitigating any time-consuming setbacks that would impede billable work opportunities.

Proposal management software is proven to be effective and valuable for teams. Our data shows that a staggering 70% of companies generate more RFPs per year because of proposal automation tools. By adopting proposal software, consulting firms can utilize automated tools that minimize non-billable work so teams can dedicate more time and resources to their clients and attract new business opportunities.

Create competitive proposals with data analytics

Over the past year, the number of consulting firms in the U.S. has increased by 6.2%. As a result of this growing industry, it’s imperative firms have the tools needed to stay competitive and attract new clients.

Many RFP software tools leverage artificial intelligence (AI) and data analytics to streamline the proposal management process and equip teams with the most effective information. For consulting companies, developing competitive, business-winning proposals starts with understanding which parts of their proposals resonate most with clients, which areas are not being engaged with thoroughly, and what content needs to be revised for future proposals.

RFP proposal software features specific tracking metrics that show which areas of a proposal clients engage with most including what links have been clicked on and if the document has been shared. The software seamlessly stores this data within its platform, allowing teams to view it instantly from anywhere.

When equipped with these insights, consulting firms can improve their proposal process to deliver high-level, personalized RFPs that stand out from the competition and win over new clients.

Improve team collaboration with cloud-based tools

Forty-four percent of consulting companies worldwide face the need for new skilled workers amid the labor shortage. Due to this, many firms have to capitalize on the skill sets and resources already available to keep operations moving. With cloud-based tools like proposal software, teams can foster improved collaboration during this challenging labor shortage.

Cloud-based proposal software enables teams to better manage how they approach proposal development. The software creates a single point of access for important documents, allowing team members across different locations to seamlessly co-author proposals without common document-sharing issues such as formatting errors, size limits, or accidental deletion.

For firms operating with reduced employees, they can leverage RFP management software to stay as productive as possible. In fact, our own research shows that 76% of proposal teams report that RFP software tools helped them cut the average amount of time spent completing a proposal by 53%. This enables short-staffed teams to streamline the proposal process without turning down important new business opportunities.

When it comes to fostering better collaboration for teams, proposal management software can be an incredible resource that enables them to focus more time and resources on billable work essential for client relationships and business operations.

Get started with proposal software now

At QorusDocs, our main objective is to automate your proposal response process to make life easier for employees while simultaneously decreasing non-billable work hours and increasing your firm’s business opportunities.

To help meet your firm’s operational goals, QorusDocs has created the Pocket Guide to Proposal Management for Professional Services. The guide includes numerous resources on how to:

  • Learn the secret to creating an accelerated and efficient response process to boost new and existing client work, maximize billable hours, and maintain cash flow
  • Impress prospects with personalized, branded documents that stand out from the crowd
  • Access user-friendly templates and checklists for proposals, RFx responses, SOWs, and more
  • Understand how to use AI-powered proposal management software to optimize the response process to meet revenue targets

In addition to the Pocket Guide to Proposal Management for Proposal Services, you can download your free Professional Services Proposal template, which includes professional tips on how to create your own personalized proposals. You can also check out our new guide – The Ultimate Guide to Mastering RFPs and Sales Proposals – for even more insights into how proposal software can help your firm meet your business goals in 2022.

Your ultimate guide