While we were at the BenefitsPRO Broker Expo, we noticed something. Recurring benefit admin RFP questions seemed to pop up consistently.
That got us thinking — if most of the attendees we spoke to had these questions, they’re probably not the only ones. Of course, we don’t want anyone to miss out on the answers. So, we thought we’d share the answers to the most common benefit admin RFP questions we receive here.
6 answers to commonly asked benefit admin RFP questions
Anyone who creates proposals knows that certain questions appear in almost every RFP. However, many organizations still reinvent the wheel with each response. It’s probably the most common RFP issue we see, and it leads to a lot of frustration.
Proposal managers know they’ve seen these questions before but still don’t have the answer at hand. And subject matter experts get tired of answering the same question for the millionth time.
To address this issue, you need a knowledge library. This allows you to store, organize, search and reuse past proposal content. And, if you invest in a solution with artificial intelligence, the benefits are even greater.
For example, RFP360’s bulk auto-answer tool, Answer Intelligence, uses natural language processing to suggest relevant responses to RFP questions, helping users quickly and easily answer commonly asked questions.
This is the big question on everyone’s mind. The purpose of responding to RFPs is to close deals. However, when your win rate is lower than expected, the whole process starts to feel like a waste of time.
Fortunately, by simply tailoring your proposal content to the needs of the prospect, you can drastically improve your win rates.
We’re big proponents of repurposing past proposal content and using proven templates to get a head-start, but not at the expense of creating thoughtful, targeted messaging. Remember to thoroughly read the RFP to understand how your prospect views the challenge and potential solutions. Then, craft your proposal to address their key concerns.
For a more in-depth breakdown on how to write effective proposal content, check out The formula for creating winning RFP responses.
RFP software is a great way to encourage simultaneous editing. It’s one of the biggest benefits RFP software, rather than manual tools like Outlook or Excel.
Because RFP360 is cloud-based, users can access the RFP and proposal anytime, anywhere. Equally important, multiple users can work on the documents at one time. As an added bonus, they’ll always know they’re working on the most up-to-date version available. There’s even a version history, so you can see who made what edits and when. And you can revert to a previous version, if needed.
Our pricing model allows for unlimited users, data and projects. So, you don’t have to worry about breaking the bank to ensure everyone who needs access to RFP360 has it.
We do! Using vendor profiles, you can ask vendors to complete a questionnaire at their leisure and store their responses indefinitely.
Vendors can even go back and update their responses at any time so they’re always ready for the next RFP. And, because you can see when they last updated the profile, you can ensure you always have up-to-date information.
No, RFP360 is flexible enough to manage any vendor selection project in any industry.
That being said, we do have significant experience helping clients issue RFPs for:
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- HR technology
- Stop-loss coverage
- Voluntary benefits
- Third-party administrator partnerships
We understand that you’re the expert when it comes to your business, your industry, your clients and your vendors. And, no two RFPs are ever exactly the same.
That’s why RFP360 empowers you with a flexible framework to build the most effective RFPs for your specific needs.
Check out this post to get more tips on how to write effective RFPs for benefits administration software.
Learn more about RFP360
RFP360 is the only RFP management solution designed for issuers and responders, making it perfect for benefits administration consultants and brokerage firms.
“RFP360 helps us automate and focus on core business. Now, we can categorize, search, and profile providers, which helps us understand who would be the most appropriate vendors to invite to a particular RFP,” said Mark Rieder, SVP of HR technologies and benefits administration at NFP. “We love the automated scoring. We’re shortlisting faster, and we’re being a true partner to our vendors. It’s a win-win.”
Learn how RFP360 can streamline the RFP process for your organization, as well as your vendors and clients.
