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What’s the problem with RFPs? If I pitched that question to you, or any other procurement professional, I’m positive you would come up with a ton of responses. And while all the responses would be valid, boiling it down to the issue at the heart of the matter is where we’re heading.


Why Do Companies Struggle with the RFP Process?

Lack of a database

Many procurement departments lack the technological infrastructure to house their RFP content, which means they find themselves writing the same or similar content over and over.


RFP management

Often, there’s no established RFP management process within the organization. For one reason or another, the procurement department doesn’t keep track of who’s written what and lacks an overall calendar or timeline to manage the RFP writing process.

Strategy

Where there’s no database of information to access and no formal process to follow, that typically leads to mediocre strategy. With no information to fall back on and review, many procurement departments lack pertinent price and market information that is up-to-date to help them set their strategy.


How Can Organizations Improve the RFP Process?

With the ProcurementIQ RFP Builder! Backed by the vast category research of ProcurementIQ, this innovative web-based tool can make the creation of your RFPs a quick, centralized and repeatable experience.

Simplify the RFP Process

Our secure, web-based content management platform will help you streamline your process. The RFP Builder features:

  • A collaborative interface backed by ProcurementIQ’s vast research
  • Pre-populated RFP templates that contain key market insights
  • Pro-Tips within the template give users additional market information and RFP strategy
Assign, Track, Document, Approve

Store completed documents to My RFP Center, monitor completions and reuse templates for similar purchases, plus:

  • Manage user permissions and assign work to subject matter experts across your organization to streamline writing RFPs
  • Store RFP questions, answers, specs, legal documents and other custom content for use in other documents
  • Use the RFP Library to organize content for your RFPs and promote consistency across your organization
Be More Strategic

For complex purchases, use the Strategy Whiteboard to help set out the goals and timeline of the purchase and see potential vendors. Specifically, our Strategy Whiteboard illustrates the following:

  • Price Strategy: actionable recommendations based on category price trends, volatility and opportunities
  • Vendor Strategy: guidance to help you find vendors that match your criteria
  • Market Conditions: key takeaways about various market characteristics to help you negotiate more strategically

 

Learn more about ProcurementIQ’s RFP Builder and discover how it can help you and your organization make the RFP process a streamlined and more collaborative experience.

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