What is RFP Automation and What Benefits Does it Bring?

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Nowadays, automation is increasingly present in businesses around the globe. Whether we’re talking about data entry, customer onboarding, or periodic report preparation and dissemination, everything is becoming automated. So it should be no surprise that the request for proposal process is following the same trend. RFP automation is the new standard for any sales team that aims for increased performance.

" A 2019 survey from Hubspot reports that 68% of salespeople simply don’t have the time they need to focus on sales activities and invest time in writing RFPs. The same survey uncovered the fact that an RFP automation solution helps 63% of teams to improve their productivity."

Let that sink in for a moment.

Therefore, since we’re talking about obvious benefits, why are some people still reticent when it comes to automation? Well, it all comes down to a few common myths about RFP automation software, like terminating jobs, taking a long time to implement, complete and manage.

By the end of this article, we’ll break down the concerns behind the myths, and you’ll be able to understand why using an RFP automation tool is one of the best things that could happen to your company.

Now, let’s take a few moments and talks about the benefits it brings to your company.

Benefits of RFP automation

1. It saves time and increases productivity

Nowadays, time is one of the most valuable resources and everything that helps you save significant amounts of it is worth testing.

Buyers and procurement professionals spend a lot of time manually composing requests, going through RFP templates, but also comparing vendors and calculating response scores. By using an RFP automation platform, the amount of time needed for all these processes will become significantly lower.

And that’s not all.

By adopting an RFP automation solution, some companies reported that they were actually able to double the overall number of proposals they could respond to in a year. This, in the end, led to increased revenue.

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