In Mind Cloud Blog

Less Time Managing RFQs and Tenders. More Time Selling

Posted by Sabine Kempe on May 8, 2020 9:19:16 PM
Sabine Kempe
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Managing complex Request-for-Quote (RFQ) processes is a common challenge across all manufacturing verticals. For engineering businesses the time and resources invested into proposals are a significant cost factor eats into your profitability. Besides, the need to maintain a high win-rate is an important factor in a competitive business environment. 

The complexities of the RFQ & Tender process

The RFQ by a prospect or customer is the starting point for an often lengthy and complicated sales process. It can stretch across various stages and involves multiple stakeholders from sales or tender managers, to engineering, purchasing or finance.

Under a strict timeline, a multitude of data and documents need to be prepared and collated by a virtual team. Flawless execution and process monitoring are vital to win the deal. 


Learn how a Manufacturing Sales Platform can help you manage your RFQ and Tender processes in a personal demo!


Difficulties in RFQ and tender processes

RFQ coordinators need to track and align results across different engagements, while contributors need to understand task dependencies and statuses to plan and execute their part carefully.

If tasks are blocked or not executed on-time the quality of the offer may suffer, lowering your win-rates. Managers need to keep oversight over many tenders at the same time and contributors need to know when to deliver their input and when dependent tasks are scheduled and completed.

RFQ & Tender Process Management via the Manufacturing X Sales Platform:

The Manufacturing X - the Sales Platform, specialized for Manufacturing industries has powerful RFQ Management features for planning RFQ timelines, including:

  • Gantt charts for organizing, presenting and managing RFQ tasks

  • Milestone and deadline visualization

  • Task maintenance and assignment

  • Status updates on progress/completion for higher transparency

  • Task completion and overdue task alerts

What are your benefits?

As an RFQ coordinator, you gain the capability of planning the RFQ preparation in detail and executing it on one collaborative platform built into your sales and quotation system.

As an RFQ contributor, you have direct access to all required information. You will be informed when contributions are due, receive feedback on what is missing or if dependent tasks are not on track.

As a manager, you are empowered to keep the complete overview. What is the status for each and every single RFQ? Which tasks are currently on-going? Where are deviations and risks that require your intervention to guarantee a successful proposal submission? With maximum transparency and a powerful collaboration platform you can manage all RFQs and tenders with ease.

Summary

RFQs and tender processes are often lengthy with a high cost-of-sales because it involves multiple stakeholders and complex information. They require a comprehensive project management approach to increase the probability of winning deals through optimized use of resources.

A specialized all-in-one platform empowers you to execute RFQ and tender processes more efficiently. It can help you deliver flawless proposals quickly. This helps you increase your win rate and lower your cost-of-sales. 

 


Discover how Manufacturing X Sales Platform is different from conventional sales solutions. Purpose-built for discrete manufacturing it embeds industry best-practice for you to kick-start your business growth and competitiveness.

Explore the growth potential for your business in a personal demo!

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Sabine Kempe

Written by Sabine Kempe

Sabine - a manufacturing sales expert and cloud enthusiast at heart, she is dedicated to matching the challenges of manufacturing businesses with the opportunities of a digitalized world.

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