Request for Proposals: How to Professionalize Your RFP Process to Win More Business

Improved efficiency, more successfully completed transactions, and – in the end – higher revenues: The benefits of a professional request for proposal (RFP) process are significant. However, many companies are having serious gaps in this regard. How can they be filled? It is worth taking a look at the pioneers in this field.

RFPs contribute to a significant share of revenue in many industries, as for example business services, logistics, automotive or construction. Quite often the process to win proposals hasn’t changed much in recent years though. Companies tend to stick to their traditional approaches when reconsidering them would be the much wiser choice. But how much harm is done exactly by this behavior? And what are measures to change that? We deployed an international study with over 130 key stakeholders from RFP-heavy industries, mostly in the US and Europe, to find answers.

Substantial challenges in tender management …