Top 4 Things to Look for in the Best RFP Software

Image of computer code for an article about Top 4 Things to Look for in the Best RFP Software.When you need a specific project to be fulfilled, then it’s time for an RFP, or a request for proposal. In previous decades, everything was written out and done by hand, but as the internet gained popularity, it made much more sense to use emails, spreadsheets, and software to help make the process more efficient.

While RFP software has come a long way, you always want to make sure you’re using the best RFP software for your needs and objectives.

Read on to learn more about what to look for in RFP management software and more about what RFP tools can do for you.


The Best RFP Software: A Searchable Library


Typically, when preparing to send out an RFP, the goods or services you require are similar to a previous RFP that someone else completed. 

A knowledge library that’s easily accessible—and searchable and at your disposal—is one of the most important features of the best RFP software so you can easily find relevant content either by category or by project type or both. Many good RFP software will provide the ability to create various types of templates to speed up the creation of new RFP’s.


The Best RFP Software: Automation


RFP automation software is incredibly important and is one of the most vital aspects of the best RFP software. If you’re still using RFP software with manual capabilities, you’re doing yourself a disservice, as it’s slowing down your overall procurement management process. 

Reminders and reporting are the most important aspects of automation and can help you and your team stay on track when it comes to missing deadlines and other important events. The best RFP automation software can also assist with award management.


The Best RFP Software: Collaboration


The best RFP software will also assist you in collaboration with your team but also with your suppliers. You want every member of your team to be able to access the software and for it to be transparent so that everyone can see, in real-time, what the status is of any given project. This helps keep everyone up to date.

Previously, it was hard to keep up with tasks in spreadsheets because they were not intuitive and tough to use. In addition, in the past, different people could be using different versions of analysis files and with software everyone will be viewing the most recent version, which will help everyone stay organized.


The Best RFP Software: User-friendly Dashboards


Another key thing to look for when it comes to the best RFP software is a user-friendly interface and dashboards. The bulk of your team will be using the interface, so you want to make sure it’s simple enough for everyone to use. You want to look for features such as:

  • Data visualizations
  • Usability
  • Easy-to-generate reports that are prepopulated with bid results
  • Cloud-based services
  • Summary dashboards and charts

Don’t opt for software with flashy, gimmicky features – remember, not everyone on your team will be using the software daily, so it has to be intuitive enough for everyone to use. You can always make a side-by-side software comparison to see how different software rates for your needs. 

To learn more about the best RFP software, or to request a demo, contact us at EC Sourcing Group today by dialing 973-936-9672 to speak to a member of our team about setting up an appointment.