You have probably heard the expression that you can’t win if you don’t play. The business equivalent of not playing is failing to respond to an RFP. You might ask what that has to do with you and your response management team. After all, your team responds to every RFP that comes their way, right?
Playing to win requires more than filling in the blanks, however. It requires updated and defined RFP response processes to maximize efficiency and accuracy while saving time and company resources – all with the ultimate goal of winning the bid!
This article will discuss the revenue-driving and resource-saving Association for Proposal Management Professional (APMP) best practices for updating and defining your organization’s response management process.
End-to-end processes help future-proof your RFP response flow.
Organizations that consistently follow a defined business development process win more business and use fewer investment resources. ~ Association of Proposal Management Professionals
If your company is anything like ours, and I’m sure it is, you have dozens, if not hundreds, of distinct personalities and work styles. You also have attrition, onboarding, PTO, etc. Yet surprisingly, you rarely devolve into chaos.
Why is that? It’s because you’ve established defined processes. So if, for example, a client calls with questions for their customer service rep who’s out of the office, your CRM will arm everyone else in the department with the information they need to answer the questions.
CRMs are great at helping define processes, and so is RFPIO.
Do you have a defined response management process?
If you won the lottery today, would someone be able to pick up your job tomorrow? How fast will it take your replacement to ramp up?
According to the APMP, every organization should design its own end-to-end process suited to its organization and customers.
Sure, we’d all like to feel indispensable, but if we are the exclusive key holders to critical processes, we’re doing a huge disservice to our companies. I would even argue that the best employees, at least those whose values align with their organizations, are transparent about their work processes.
In turn, the best-run organizations have processes to ensure that when an RFP manager takes a day or week off, or even leaves, it won’t derail responses.
If you have a defined process, have you recently reevaluated your processes?
If there’s one thing you can count on, it’s change. Just a little over two years ago, remote work was relatively rare. Then, everything suddenly turned upside down, and we all needed to adapt.
Guess what? We did, at least for the most part, and the world didn’t implode. I don’t think it’s a giant leap to say that defined processes kept the economy humming, despite unforeseen challenges. Defined processes certainly helped keep RFPIO thriving, but only because we regularly reevaluate them.
In the software industry, especially in SaaS, things change quickly. At RFPIO, we have to be agile. As our customers’ needs change, so must we. When the market or regulatory environment changes, we have to adapt. That’s why we have new releases almost monthly.
**It only takes about 15 minutes each month to learn about the new features.**
Of course, defining your processes requires more than updating software. Do you regularly interact with your subject matter experts? Do you ask them for feedback on your Content Library? If you don’t, your subject matter experts may be frustrated, but they may start to feel heard by opening the door to collaboration. Also, they’re a potential wealth of ideas.
After speaking with the experts, bring your Customer Success Manager into the fold. Ask them about the challenges they have run across. They might have solutions that they’ve previously been reluctant to mention.
How to identify a response management black hole
In an ideal world, we’d have months to respond to each RFP. But, unfortunately, that’s rare. Often, we have two weeks or less. I’ve even seen two days! But, thankfully, that’s also rare.
How often does this scenario happen: The RFP landed in your inbox just days before it was due, but you saw that it was issued weeks earlier!
Obviously, two days is an extreme example. A more common scenario might look something like this: The RFP was issued two months ago. It sat somewhere, untouched, for weeks. Then, just as you were confident you were on track for all your deadlines, the RFP lands on your lap, and it’s due by the end of the week.
The fact is, you can’t win them all. So when buried under an avalanche of response deadlines, many companies choose to triage, or employ the bid/no-bid strategy, where you bid the RFPs with the higher win rates and let the less viable opportunities go.
But what if the RFP that sat in the pipeline for weeks has a high win rate? What happened to the RFP during those weeks? Where is that black hole, and how can you plug it? Let’s see if we can help you identify the problem(s) and help you create a bid/no-bid strategy with this attached downloadable worksheet.
In the second of our two-part series, we’ll explore the tools RFPIO provides to help scale your response management process and, of course, win those bids!
In the meantime, let us know if you’d like to learn more about RFPIO and how we can help you scale your response management process.