The Best RFP Software for 2024
(Top Four Tools)

According to G2, there’s more than a dozen options for RFP software on the market right now—which means there’s (literally) hundreds of features to consider.

Top features include automation, collaboration, and project management insights—which can all help you submit proposals faster to earn millions of dollars in revenue. But how do you know which tool is actually the right fit for your proposal management process? 🤔

Don’t worry—we’ve done the research and narrowed the list down to a digestible top four. (Plus, created a handy checklist to assess any RFP management software you’re considering).

So, what’s the best RFP software in 2024? Read on to find out.

In this article, you’ll learn:

1. What is RFP Software?
2. What is the Best RFP Software? Our Top Four Picks
3. Essential Support from Proposal Software Vendors (Checklist Included)
4. Step-by-Step: How to Manage Proposals Using Software
5. How to Pick the Right RFP Software for You

So you’ve received a request for proposal—also known as an RFP. Now what?

Proposal software can help you manage requests, proactively send a business proposal, and streamline your process—to ultimately win more deals. But what exactly does proposal management software do for you?

Through machine learning, RFP software helps:

• Build a library of repeatable proposal content (no more scrolling through email threads…)
• Auto-populate documents with your best answers
• Handle tedious tasks like formatting proposals
• Provide reusable, branded templates during the proposal creation process
• Offer a centralized project management system that helps your team collaborate

Not all software is created equal. But, there are similarities across platforms.

When choosing the best RFP management software for your team, look for a tool with three key capabilities: a searchable content library for storing answers, automation features (including generative AI) that can help scale your work, and collaboration tools that simplify how you work—and win—together.

For companies who answer a minimum of 1 complex proposal per month, there are four different types of software that could suit your needs.

The top four RFP platforms we recommend, are:

1. Loopio (for large companies)
2. Avnio (for those who prefer to work directly in Salesforce)
3. Qvidian (for those who would prefer to skip automation)
4. PandaDoc (for those focused on proactive proposals)

Keep reading for more details (and advice) on each software below.

Consistently ranked as the easiest-to-use RFP software on G2, Loopio is well-known for its smart content library, thoughtful automation, and stellar support.

Loopio’s customers are primarily software companies, large banks, and financial services, as well as a variety of healthcare and health-technology organizations.

Pick this software if: You’re looking for a team that provides a blend of content organization, automation, and quality support. Here’s where you can request a demo.

An up-and-comer in the proposal space, Avnio was founded in 2019 by Tobias Dawes.

Over the past few years, they’ve quickly made a name for themselves by creating the industry’s only RFx solution that is native to Salesforce—which means, their entire platform is run within your company’s CRM. (Pretty cool, right?)

Pick this software if: You anticipate your sales teams being resistant to trying a new platform, outside of their day-to-day tools (Salesforce specifically). See how it works.

Upland’s Qvidian is one of the longest-standing solutions in the RFP technology space. Formerly known as RFP machine, Qvidian was one of the first options for proposal software, which means many organizations still use it by default today.

The benefits of Qvidian include a complex tagging system for organizing your RFP answers. The cons include a lack of machine learning functionality in their automation features (and generative AI).

Pick this software if: You have purchased other Upland products (typically you can get a packaged deal) and don’t have a need for automation.

PandaDoc is built to help customers create, approve, and manage e-signatures on business proposals.

Need to whip up a simple proposal in a few minutes? They can help you. Do you need a signature on a document? They have you covered there, too.

Pick this software if: You’re a business owner who needs to do everything from writing a proposal—to getting a signature.

Now that you understand what you’re looking for, let’s start to unpack how you should actually use a RFP management tool.

The good news: using proposal tools is very straightforward, especially with cloud-based software. Why? It helps your team collaborate efficiently during the proposal process—which is critical for a team sport like responding to an RFP. 🏈

Here are the six steps you can expect to go through when using proposal tools.

When you receive an RFP, import details into your proposal software. Once imported, the software should help you identify questions that need answers within the document (pictured below). If you’re accessing the RFP through a portal or website, you can use an extension like Google Chrome to fill in the RFP directly from the browser.

Imported RFP | Best RFP Software in 2024

Next, map out your project timeline within your proposal management software. Highlight the sections of the proposal that will need special attention and decide which experts on your team can help with the details. Create a schedule with deadlines so everyone knows what’s expected and when.

Timelines in Loopio | Proposal Automation Software

Even with a proposal software in place, you should still kickoff the project with relevant subject matter experts (SMEs). Whether you meet in person or through a video call, it’s important to gather everyone together to lay out requirements, assign responsibilities, and set expectations early. Clear communication is essential when collaborating on sales proposals.

Kicking off a Proposal | See the Best RFP Software Now

Now that your team is on board with the project plan, it’s time to fill in the proposal itself. Some proposal tools use automation to fill the first pass of the proposal for you (which saves a ton of time). The tool will simply pull past answers from your proposal content library for each response, so you don’t have to start from scratch when creating proposals.

Loopio’s RFP Automation Tool, Magic | See the Best RFP Software Now

The draft is done, so next it’s time for your SMEs to shine. Ask them to review the first draft for accuracy, because this is their opportunity for feedback. Then, send the draft to your legal/compliance teams, as well as executive sponsors to get their sign-off on the second draft. (Your team will soon be able to create proposals in no time using the drag and drop editor.)

Collaborating with SMEs | Proposal Management Software Preview

Proposal tip: Be vigilant against over-editing. Too many edits can actually introduce new errors, weaken your argument, and make your proposal story less compelling. Editing for clarity, spelling, and grammar is always good, but if your SMEs are adding new points, ensure you have time to review them thoroughly before the deadline.

Once you’ve reviewed and proofread your proposal, it’s time to export and submit it for consideration. (Yes, it’s really that simple.) You can even use proposal templates, so the final exported document looks consistent and on-brand for every submission. Your best proposal yet. 🤩

Final Proposal | See the Best RFP Software Now

Whatever your needs, you should seek software that helps you respond to proposals faster and provide better quality responses. Platform features (like automation and artificial intelligence) will help you get there. But peer-to-peer support and a stellar account team set you up for success in the long-term. So now that you know what you’re looking for, how should you compare proposal management software tools?

Here are the steps to pick your ideal RFP software:

✓ Examine your current process

✓ Define the biggest needs you have for a software solution

✓ Create a vendor shortlist

✓ Evaluate each product on your list

✓ Get internal stakeholders on board

✓ Implement your chosen solution