How We Chose the Best RFP Software
Request for proposal (RFP) software, also called request for quotation (RFQ) software, enables companies to automate the creation and management of common RFP documents and procurement processes. It typically involves artificial intelligence (AI) to perform many mundane, repetitive tasks such as notifications and reminders to vendors or executives. Many RFP companies are advertising an array of services and features designed to enhance your company’s efficiency and productivity. We narrowed our search for the best ones based on key factors that matter to your business.
The features of the RFP platform you choose can make the software simply another tool or a dynamic core component of your procurement process. The best solution can equip your team to share and apply up-to-date knowledge, letting all stakeholders see the status of every process and determine who's responsible at any given time. We listed vendors with systems that include features such as RFP creation, RFP responding, collaboration, and bid management.
RFP software can help you leverage sales content and incorporate consistent branding with your documents. It should be easy to use, in a format familiar to your stakeholders so everyone can plug in and work efficiently. Leading software providers offer built-in integrations for MS Office and other tools that are often utilized along with RFP software.
Companies depend on detailed reports to assess and improve their RFP processes. They need standard templates to create RFP documents and a searchable repository with robust functionality. The providers on this list feature a variety of customizable options for accessing and extracting the content that drives informed decision-making.