Why Accounting Firms Should Consider Proposal Management Software

Why accounting firms should consider Proposal Management Software
Jennifer Tomlinson
Written by Jennifer Tomlinson / Jun 09, 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.

A version of this article originally published on AccountingWEB

The pandemic has dramatically reshaped our approach to work. With the rise of remote work,
companies have rapidly adopted new tech tools to enable dispersed operations and facilitate
connections between coworkers, clients and customers. Plenty of industries are planning to adopt
remote work permanently, including accounting firms, but not all companies are equipped with the tech to support a distributed labor force. Recent data indicates that nearly 90 percent of accounting firms feel they need updated tech resources to help them work through time-consuming projects such as developing business proposals.

At the same time, very few firms feel like they’re getting the most from their tech investments—spurring leaders to advance the company’s digital transformation efforts. Given the need to ensure workers can complete mission-critical tasks, accounting firms should consider adopting tools such as proposal management software to help drive greater efficiency, reduce non-billable hours, drive team collaboration and leverage key data and analytics to improve their approach to proposal

Below are a few ways proposal management software can be an impactful asset for an accounting firm’s digital transformation.

Save time and resources through automation

Accounting firms rely heavily on new business proposals to secure clients and grow their business.
They’re also supportive of adopting tech tools to facilitate productivity, with 91 percent of accounting
firms reporting that digital tools help them connect with clients and handle tasks. Proposal software can be a huge asset to managing the time it takes to develop and submit an engaging proposal.
Many proposal management platforms leverage automated tools such as auto-fill, intuitive integrations, and up-to-date content libraries to produce personalized responses without requiring the team to start from scratch or wade through a disorganized folder system. Proposal software is already proven to be effective and valuable, with data showing that 70 percent of companies are able to generate more RFPs every year because of proposal management tools.

By implementing proposal software, firms can leverage automated tools to maximize their billable
hours, dedicate more time to their clients, attract new business, and save valuable time and resources. 

Drive more efficient collaboration

Cloud-based tools are one of the most significant drivers of accessibility and collaboration across remote teams. One study found that 50 percent of accounting firms are already using cloud-based tools to enable easier collaboration and streamlined processes. Using cloud-based proposal automation software helps teams better manage how they approach proposal development and eliminate common pain points for proposal teams.

Proposal management software creates a single point of access for important documents. Individuals
across teams and locations can work seamlessly together, without encountering challenges like version control issues or mailbox size limits. Firms operating with reduced capacity and dispersed teams can leverage proposal software to stay as productive as possible.

Our own research showed that 76 percent of proposal teams reported that proposal management
software helped them cut the average amount of time spent completing an RFP—giving them more time to focus on other work and create more proposals. When it comes to facilitating better collaboration for new business teams, proposal management software can be a tremendous resource.

Access analytics and data to improve proposals

Developing better proposals starts with insight and data. Accounting firms need to understand which
part of their proposals are most important to their potential clients and what areas aren’t being
reviewed as thoroughly. Firms also want to know if their content needs to be revised for future
proposals. To help accounting firms better grasp how their proposals are resonating, proposal software includes specific tracking metrics that reveal the most-read areas of the document.

In addition, users can track link clicks and shares through the software. Conveniently, the software logs
the data within the platform—making it available on-demand. When equipped with these insights,
accounting firms can refine their proposals and overall business approach to deliver better proposals
and raise their success rate.  

Enable the future of proposal development

For accounting firms looking to embrace digital transformation, cloud-based proposal management
platforms have a lot to offer. Automation enables efficient proposal development work, preventing
teams from being bogged down by the process. As a cloud-based resource, remote teams can leverage proposal software from anywhere—keeping teams organized and responsive throughout the entire process. Finally, accounting firms can use the software to sharpen their approach to developing
proposals and win more business.

Resources to get started now

To help boost your firm’s proposal process, QorusDocs has created the Pocket Guide to Proposal
Management for Professional Services. In this guide, you will:

  • 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

Our primary objective at QorusDocs is to automate and accelerate your proposal response process to make life easier for employees while simultaneously increasing your firm’s business opportunities. Along with the Pocket Guide to Proposal Management for Professional Services, you can download your free Professional Services Proposal template which includes professional tips on how to create your own personalized proposals that will:

  • Impress your clients and prospects with polished, on-brand proposals

  • Maximize billable hours by eliminating time-consuming manual proposal creation

  • Differentiate your services with proposals that stand out from the crowd

  • Boost client acquisition with personalized proposals that convey a deep understanding of the client’s challenges

For even more insights into how proposal software can help you meet your business goals for 2022,
check out our new guide: The Ultimate Guide to Mastering RFPs and Sales Proposals.