Top 5 Tips to Proactively Manage Your Proposal Content Library
No matter what industry you work in, tracking down the right information at the right time is key to success … but many organizations struggle to empower their employees with access to the information they need.
In fact, the International Data Corporation (IDC) — a global provider of market intelligence, advisor services, and events for information technology, telecommunications, and consumer technology markets — released a study that shows employees spend “about 2.5 hours per day, or roughly 30% of the workday, searching for information.”
They went on to say that, while technology is improving this situation, organizations must identify solutions that contain the right capabilities, or they’ll create problems of their own.
“Intranet technology, content and knowledge management systems, corporate portals, and workflow solutions have all generally improved the lot of the knowledge worker. These technologies have improved access to information, but they have also created an information deluge that makes any one piece of information more difficult to find.”
That’s why RFP360 — the request for proposal (RFP) management solution designed to improve the buyer-seller experience — comes with a Knowledge Base designed to make life easier.
(Learn how RFP360 can help your organization proactively manage proposal content and create winning RFP responses in less time.)
Not only does it store key proposal content for future use, but it also empowers users to organize and search for content.
That ability to search is key, according to IDC.
“Increasingly, search has become one of the most frequent, vital tasks a knowledge worker performs.”
Below, we’ll cover five strategies and best practices that will help you create and manage a proposal content library so your team can quickly find the information they need.
- Understanding tags
- Organizing proposal content
- Maintaining your content library
- Providing the right access
- Content management tips
Discover how RFP Software can improve your proposal management process
RFP360’s Knowledge Base helps users achieve incredible results.
While most organizations spend 30 hours responding to each RFP they receive, RFP360 users create proposals in half that time — as Technolutions Chief of Staff Laura Gardner can attest.
“RFP360 has really helped us handle dramatic influxes,” Laura said. “For example, at one point last year, we had 12 RFPs due in one month, and we were able to submit responses to all of them. Universities often ask the same questions, so having the Knowledge Base suggest answers allows us to rapidly respond when we have workload spikes like that.”
Being able to handle dramatic influxes like that also allows RFP360 users to respond to more RFPs and boost their pipeline…
- RFP360 users respond to 60 RFPs per year, while most organizations respond to 30.
- RFP360 users report an average total pipeline of $6,000,000, while others report $3,000,000.
And they’re cashing in on those results. In fact, RFP360 users increased their win rate by 50%.
That’s right — they’re spending less time creating proposals while increasing their win rate.
In many cases, that’s because the decreased time spent tracking down answers to RFP questions allows them to approach their procurement process strategically.
“It’s definitely made us more efficient. RFP360 has given us back our time and allowed us to really pick and choose our projects,” said Brandon Fyffe, business development associate at CareHere. “We’re not frantic anymore. We can take a deep breath, focus on being strategic, and make sure we’re choosing the right projects and providing quality responses.”