Best Open-source Request for Proposals (RFP) Software

The Request for Proposals (RFP) software solutions can be adopted by both the suppliers and bidders. The RFP software allows the suppliers to share the requirements of the requested product or software solution in detail in order to attract bidders. The bidders can prepare the submissions and submit them on the RFP software. The RFP software does not only cater to the RFPs, it is used to post and request different kinds of proposals such as a request for information (RFI), request for quotations (RFQ), expression of interest (EOI), etc. The RFP software is also able to keep track of the RFP processes. An optimal RFP software keeps track of all the processes involved in an RFP process from the point of its uploading to the platform till it announces the names of successful bidder(s). 

Here at LinuxAPT, as part of our Server Management Services, we regularly help our Customers to perform related Open-source Software Installation queries.

In this context, we shall look into the best performing RFP automation software solutions that are acclaimed and widely adopted across the globe.

Main features of Proposal Management Software includes:

  • Metrics and Notifications: Proposal management software can track how the clients are dealing with your proposals. It can send reminders and notifications to you and your clients about unopened proposals. It also tracks the number of times the proposal was opened and seen by the prospects. 
  • Quoting Features: Proposal management software lets users input multiple customized pricing options, discounts offered, taxes, etc. with the proposals. Prospects can tick the one they agree upon to initiate the deal. 
  • Content Library: Proposal management software lets users manage and organize templates, proposal bodies, descriptions, case studies, images, videos, etc. in a secure content library from where it can be fetched easily whenever required.   
  • Reusable templates: This feature pf proposal designing software allows users to create and save professionally designed branded templates and proposals for reuse. 
  • E-signature tool: Proposal management software lets clients and users attach legally binding e-signature to digitally sign proposals right in the browser itself. 
  • Payment tools: Users can request payment from prospects directly with a payment option attached to the proposal itself. 
  • Auto-populate proposals: Mapping of contact details and custom fields from CRM software/excel sheets to auto-populate proposals with error-free precise data is possible with the proposal management software. 
  • Prospect Information Form: Client input forms allow prospects to fill their necessary fields to close the deal. 
  • Branding: Proposal automation tools let users recreate their brand across proposal documents to provide them an extra marketing benefit.
  • Embed Videos: Users can Include a product video demo, images, from your website or directly from YouTube, for impressive buyer experience with the proposal maker software.
  • Integrations: Proposal management software Integrates with prominent CRM software and document managers to sync proposal data and fill custom fields automatically.  
  • Multilingual and Multi-currency Features: Most of the proposal management systems allow multi-language and multi-currency support for a holistic business approach. 
  • Live Chat with Prospective Clients: Chat live with prospects to solve queries and doubts of your prospects with proposal management software. 
  • Reminders and notifications: Proposal management software sends automated reminder emails if prospects haven't viewed the proposals even after a specific amount of time.
  • Roles and Permissions: Assigning permissions to manage access can prevent any chance of misuse of the software.  The manager or admin approval is a must before sending a proposal to customers. 
  • Mobile application: Tracking available on Mobile apps with some proposal management software

1. Loopio

Loopio is an RFP response creating, and RFP managing software. The tool is a web-based product that is compatible with most web browsers and operating systems. The tool offers amazing proposal management features and allows users to create attractive proposals, whitepapers, etc. Getting a company’s documents containing vital information about an organization can get tedious. The RFP response automation software organizes these documents and information stored in them in such a way that fetching responses for a question becomes way too easier.

The platform allows users to upload and store their company’s documents in the platform. When an RFP is needed to be responded to, all the users have to do is upload the RFP questions file on the platform and the Magic tool then automatically fills up the responses for the questions. The users can edit these automatically generated responses further for more accuracy and details. The features of the platform include a multilingual RFP response library, content creations, and editing platform, content detection tools, automated review cycles, search capabilities, plagiarism detection, attachment, and storage, etc.

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2. QorusDocs

QorusDocs is another web-based proposal management and creation tool. The tool offers a platform that can automate proposal writing, response generation, and crafting competitive proposals, statement of work (SOWs), RFI, EOI, etc., more efficiently. It gets painfully tiring and tedious to swarm through old company documents or presentations for fetching content that best matches with the questions inquired in RFPs, etc. The software efficiently manages and stores such vital information and compiles proposals that cannot go overlooked by the clients.

The software comes equipped with numerous efficient features such as bid management, activity tracking, configurable workflow, RFP management, RFP responding, product catalog, version control, progress tracking, project management and generation of real time data, campaign management, reporting and statistics, automatic formatting, collaboration tools, user management, compliance management, an optimal solution for medium to large size business, 24×7 support facilitations including knowledge base, chat, email and help desk, phone support, FAQs, etc.

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3. Procurement Express

Procurement express is another market-leading and competitive proposals management software. With this web-based software, users are able to create and design responses that assure grasping the client’s attention to one’s proposal. The tool is the best choice for managing bids and responding to clients’ questions and different inquiries via the platform. The tool offers a platform capable of creating content that allows saving time and generating documents that contain useful and on-the-point information.

With Procurement Express the companies are made assured that their proposal documents will get good attention. The process of creating proposal responses is made seamless by the platform through a number of enhanced features. These features mainly include approval workflow, bid management, budget management, forecasting and budgeting, categorization and cataloging, collaboration tools, compliance management, data export and import capabilities, expense tracking, invoice processing, multi-currency, procurement management, progress tracking, purchase order management, and the list goes on.

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4. Proposify

Proposify is a web-based and desktop-based tool for RFP response generation and interactive and attractive documentation creation. The software is compatible with most of the leading platforms and operating systems. Much leading organization adapts the tool for creating interactive documentation and drafting content for various proposals utilizing the advanced automated response generation tool.

The software is capable of compiling content for various proposals owing to the platform’s amazing set of tools and capabilities. The features incorporated in the tool mainly include categorization and cataloging features, collaboration tools, contact management, content management, customizable branding, digital signature, discount management, costing and budget calculations, pricing management, product configurator, progress tracking, quotes and estimation features, RFP management, and creation, templates, etc.

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RFPIO is another professionally adopted RFP response generation tool. The product is web-based software that comes with market-competitive features and capabilities. There are numerous leading businesses and organizations that adopt the efficient for automating their proposal creation mechanisms and processes and for organization digital transformations.

The enhanced and advanced set of features incorporated in the state-of-the-art cloud-based software mainly include audit trail, bid management, collaboration tools, contact management, content library, content management, data import and export, document management, due date tracking, electronic signature, knowledge base management, knowledge library, pipeline management, progress tracking, requirements management, RFP management and responding, task management, templates, version control, workflow management, etc.

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6. RFP360

RFP360 is a software dedicated to creating and generating responses for RFIs, RFPs, EOIs, RFQs, etc. The tool incorporates all the features and capabilities to generate market competitive proposals. The tool allows users to generate automatic responses in no time with the automatic response generation mechanisms incorporated in the tool.

The features incorporated in the tool are audit trail, bid management, collaboration tools, contact management, content library, content management, data import and export, document management, due date tracking, electronic signature, knowledge base management, knowledge library, supplier management, supplier qualification, RFP management, RFP responding, global sourcing management, task management, templates, version control, workflow management pipeline management, progress tracking, requirements management, and the list goes on.

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This article covers the best top market-leading and competitive tools for generating and creating interactive and attractive RFP proposals. These software incorporates the capability to store the client's company's information and data, and based on the questions asked in the RFPs, generate accurate responses and compile proposal documentations. The software also includes the capability to create efficient responses for RFIs, RFQs, EOIs, along with generating attractive whitepapers, SOWs, etc. They include Loopio, QorusDocs, Procurement Express, Proposify, RFPIO, and RFP360. 

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