RFP Software

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Showing 1 - 20 of 38 products
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Showing 1 - 20 of 38 products

RFPIO

RFPIO develops technology that advances the B2B purchase lifecycle and accelerates growth by making knowledge accessible and collaboration simple. The world’s leading response management software can complete up to 80% of an RFP i...Read more

4.83 (89 reviews)

Loopio

Loopio is a cloud-based request for proposal (RFP) solution that is suitable for midsize and large businesses. Primary features include content management, content libraries, team collaboration, import and export and advanced sear...Read more

4.62 (71 reviews)

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RFP360

It’s not easy to source the right product, technology or service — and choosing the wrong vendor or supplier is costly. Instead of making things easier, traditional RFPs and other types of RFx (RFI, RFQ and more) complicate the pr...Read more

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Meridian for RFP Analysis

Meridian for RFP Analysis is a request for proposal (RFP) management solution for federal, state and local bids. It offers storyboards, compliance metrics and proposal outlines. The product is available with on-premise deployment ...Read more

4.54 (13 reviews)

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ClientPoint

ClientPoint (formerly Paperless Proposal)is a cloud-based proposal generation and sales solution that allows users to create, send, manage and track proposals, contracts, brochures and more. It’s suitable for sales and marketing t...Read more

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RocketDocs

Trusted by global brands and high-growth organizations, RocketDocs is an integrated sales enablement platform that helps clients of all sizes and industries succeed by moving at the speed of sales, with the power of productivity. ...Read more

4.13 (71 reviews)

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Proposify

Proposify is the online proposal software that gives you control and visibility into the most important stage of your sales process. The close. From deal design to sign-off, get the confidence and flexibility to dominate deals. -...Read more

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R3 WinCenter

WinCenter is a cloud-based proposal management solution designed for government contractors and commercial operations. It features asset management, proposal workflows, scheduling and review management functionalities within a sui...Read more

4.75 (4 reviews)

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eRFP

eRFP is a cloud-based request for proposal (RFP) management solution designed for institutional investors. It offers mandate management, user proposals and purpose proposals. eRFP features an advisor search portal, which enab...Read more

5.00 (3 reviews)

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QorusDocs

QorusDocs is cloud-based proposal management software that streamlines RFP responses and automates proposal creation. Our smart solution is intuitive and easy-to-adopt, enabling you and your team to create personalized, professio...Read more

4.63 (54 reviews)

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Software pricing tips

Read our RFP Buyers Guide

Subscription models

  • Per employee/per month: This model allows you to pay a monthly fee for each of your employees.
  • Per user/per month: Users pay a monthly fee for users—normally administrative users—rather than all employees.

Perpetual license

  • This involves paying an upfront sum for the license to own the software and use it indefinitely.
  • This is the more traditional model and is most common with on-premise applications and with larger businesses.

Rated best value for money

Qvidian

Qvidian RFP and Proposal Automation is a cloud-based sales and RFP-response enablement platform. The solution includes a searchable content library, where all assets are stored in approved language and branding. Using this li...Read more

4.45 (41 reviews)

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Synlio

Synlio is a cloud-based request for proposal (RFP) generator and bidding automation tool designed for the needs of users in the real estate industry. The solution helps both property managers and service providers to search and se...Read more

5.00 (1 reviews)

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Expedience Proposal Software

Expedience is proposal automation software that works where you do – Microsoft Word, Excel, and PowerPoint. The solution emphasizes ease of use while streamlining proposals, RFP responses, sales letters, DDQs, RFI responses, secur...Read more

4.84 (19 reviews)

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DirectRFP

DirectRFP is a cloud-based request for proposal (RFP) solution that allows procurement teams across industry verticals to create, share, structure and analyze RFPs. Key features include real-time scoring, role management, multi-pe...Read more

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MiClient

MiClient is proposal management software which helps in automating Lead Management, Proposal Management and Client On-boarding processes. With the simplified and easy to use workflow, you can forget about the complexity of CRMs an...Read more

4.71 (14 reviews)

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Salesforce CPQ & Billing

Salesforce.com offers a sales, marketing and service package. It offers users a suite of customer relationship management (CRM) applications with a focus on sales and support....Read more

4.24 (46 reviews)

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Tenera

Tenera is a cloud-based software designed to help businesses in the construction industry streamline tender management processes using artificial intelligence (AI) technology. It enables managers to search for new subcontractors, ...Read more

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DeltaBid

DeltaBid E-Procurement is a cloud-based supply chain solution that offers supplier management, procurement and strategic sourcing features. It enables users to store procurement-related information at one place which helps them co...Read more

4.00 (3 reviews)

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PROS Smart CPQ

PROS Smart CPQ is a cloud-based artificial intelligence platform that helps sales teams automate and personalize sales activities to deliver products at the right prices. The platform enables businesses to respond to customer quot...Read more

4.50 (2 reviews)

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SmartDocs

SmartDocs is a content management software designed to help Microsoft Word and SharePoint users collate content from various documents and view and manage them on a unified platform. Professionals can use the solution to create us...Read more

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Popular RFP Comparisons

Buyers Guide

Last Updated: August 18, 2021

An RFP, or request for proposal, is a document created as part of the procurement process, wherein an organization (i.e., a buyer) identifies a need for a product or service and solicits proposals from suppliers and/or vendors (i.e., a seller), asking them to offer solutions and submit a competitive bid for the job.

Vendors or suppliers then create and submit proposals (i.e., bids), in which they outline their ability to deliver on the buyer’s business requirement, with the goal of winning the bid and turning the proposal into a contract and the requester into a client.

We’ve created this guide to help you better understand the RFP software market. Whether you’re looking to invest in RFP software for the first time or looking to upgrade your current system, this guide can help you make a more informed purchase decision.

Here’s what we’ll cover:

What is RFP software?

RFP software, also known as RFP management software, helps buyers and sellers manage each side of the bidding and procurement processes:

  • Buyers can streamline and automate the generation of RFPs.
  • Sellers can quickly receive and respond to RFPs with professional and detailed proposals, ultimately helping them win more bids.

RFP software tools act as a centralized workspace, helping increase the transparency of the workflows involved with issuing and responding to RFPs and facilitating collaboration among users.

Another key function of these systems is centered around making critical information more easily accessible:

  • Teams creating RFPs can connect with and share key information with internal and external stakeholders.
  • Teams responding to vendor proposals can gather appropriate information from across departments into one cohesive proposal.

Common features of RFP software

Look for the following functionality as you evaluate RFP tools:

Contact management

Maintain a catalog of important contacts within your industry.

  • If you are a buyer, this can include the contact info and profiles of suppliers or vendors you have done business with in the past or with whom you may want to create a partnership in the future.
  • If you are a seller, this can include the contact info and profiles of potential customers as well as current clients.
Task management Create and assign tasks to resources. Schedule start and due dates, and track progress to completion. Set up alerts to notify users when assignments are nearing their due date or are overdue.
Requirements management Assists users in performing stakeholder analysis to capture, document, and prioritize requirements during the initial planning stages, then managing change and tracking communications regarding those changes over the project lifecycle.
Workflow management Define structured workflows for various business processes via rule-based decision-making, to better manage and control the flow of work through the system. Users know where a work item has been and where it needs to go next, which increases transparency and accountability. Assists with performance monitoring and process evaluation, so business units can identify inefficiencies and strive for continuous improvement.
Document management Create and edit documents, share with other users, and track changes and different versions. Often includes the ability to create and save templates, set up custom fields, and add approval workflows and electronic signature. Buyers need document management for RFP creation, and sellers need this capability for generating proposals.
Content management Create and manage digital content. Maintain a centralized repository of past RFIs and RFPs (for sellers, this would include proposals in response to the RFPs), allowing stakeholders to easily access important information and potentially even reuse documentation for future needs. Organize content using tags, categories, filters, and attributes, making your content management system easily searchable.
Contract management Once a job has been awarded, both buyers and sellers need to track and manage the contract throughout the project lifecycle. This includes authoring the contract, getting approvals, tracking requirements and obligations, and then maintaining compliance with the contract commitments during project execution.

Additionally, RFP response systems may include applications for, or integrations with, your sales pipeline management and customer relationship management (CRM) tools.

Both RFP creation and response systems may include applications for, or integrations with, project management tools, so when vendor proposals are awarded, the job can be transferred appropriately.

Key purchase considerations

It’s important to note that "RFP software" is an umbrella term that refers to the tools used on both sides of the RFP creation and selection process:

    • Those used to issue an RFP (on the buyer’s side)
    • The tools used to respond to an RFP (on the seller’s side)

While these processes are absolutely related, they are on opposite sides of the transaction process, and it’s not common to find them together in one integrated suite.

In fact, you’re more likely to find proposal generation tools tied with your sales and CRM systems than with those used to issue RFPs.

As such, it’s important to understand the differences and similarities between each process and tool set to ensure you’re choosing the right RFP software for your business:

Issuing an RFP: Businesses issuing an RFP are seeking proposals from a potential vendor or supplier for a product or service that will help them solve a specific problem and/or achieve a specific business objective.

RFPs often come after an exploratory request for information (RFI) and before soliciting an invitation to tender (ITT) and request for quote (RFQ) from a shortlist of approved suppliers or vendors.

The core steps within the RFP creation process include:

      • Identify a business need.
      • Assemble an RFP team (responsible for internal and external stakeholder management).
      • Gather requirements.
      • Draft the RFP.
      • Submit the RFP, and invite suppliers/vendors to bid.
      • Review and compare suppliers/vendors and their proposals.
      • Enter into negotiations.
      • Award the contract.
      • The contract gets transferred into a project.
Creating an RFP in DirectRFP (Source)

Responding to an RFP: Suppliers or vendors responding to an RFP are being asked to deliver a product or service to help the buyer achieve a strategic business objective. As such, they need to propose a solution that will outshine their competitors and help them win the job.

To do so, they need to create a detailed, professional proposal that meets the requirements laid out by the buyer. But first, they need to receive and review the RFP before deciding whether or not it is a worthwhile investment to pursue the sale.

As such, it’s important that suppliers and vendors actively take steps to identify the prospective customers in their space and let them know they are open to receiving RFP requests. They should also create a standard RFP template that they can modify according to the request at hand.

The core steps within the RFP response and proposal generation process include:

    • Receive the RFP.
    • Vet the RFP request, and evaluate the potential ROI to see if it makes a good business case.
    • Identify internal stakeholders to contribute to the proposal (and if you win the bid, the subsequent project).
    • Gather the required materials (may involve opening a dialog with the buyer’s procurements team and asking additional questions).
    • Create the proposal.
    • Submit the proposal for review.
    • Enter into negotiations.
    • Win the contract.
    • The contract gets transferred into a project.
Responding to an RFP in Expedience (Source)

Note: The applications selected in this article are examples to show a feature in context and aren't intended as endorsements or recommendations. They have been obtained from sources believed to be reliable at the time of publication.