RFP response process before Loopio
Prior to Loopio, Healthx had no process and no clear ownership structure for completing RFP responses. Each submission was a “wild goose chase” with RFP content scattered across people’s minds, emails, laptops, and Google Drive accounts. Not having a centralized library of RFP content made it difficult for Healthx to find accurate information and relevant attachments—many of Healthx’s RFP submissions have up to 20 attachments.
Before Loopio, Healthx’s Chief Revenue Officer (CRO) Chuck Rolfsen was a key contributor in responding to RFPs and spent 7+ hours a month recreating content for each submission. Altogether, an RFP response required input from up to 12 people and took approximately 10 hours to complete. This created a bottleneck, limiting Healthx to respond to only 7 RFPs per year, on average. But even at this volume, it was a rush to get the responses in on time.
Why Healthx chose Loopio’s RFP software
“[The decision to choose Loopio] was a no-brainer,” according to Doug Wilcox, Director of Marketing and Sales Development. Stacey Way, Marketing Operations Manager, loved Loopio because of its easy-to-learn and intuitive interface.Doug and Stacey trusted that Loopio would enable Healthx to:
- Develop an efficient process for handling RFPs- Keep all documents and attachments in a centralized and accessible location
- Capture and reuse content with Loopio’s Close Loop feature
- Complete RFPs faster with Loopio’s automation feature, Magic
Scaling and accelerating the RFP response process
Beyond enabling Healthx to establish a response process, Loopio has helped “take away the fear of doing RFPs,” says Doug. The team can be more strategic in their decision process of going after new opportunities. Since Healthx now manages its resources more efficiently, the only reason they turn down an RFP is because they choose to, not because they have to.
Stacey and Senior Sales Engineer Bruce are able to complete up to 80% of an RFP using Loopio, eliminating the need to involve Chuck, Healthx’s CRO, and a dozen other people. Since Chuck no longer has to write up answers for each RFP, he can focus his attention on leading sales, marketing, and strategic initiatives.
By helping create a bottleneck-free process, Loopio has enabled Healthx to:
- Triple the annual volume of RFPs to over 25
- Reduce RFP completion time by 60%
Leveraging RFP response software beyond RFPs
Beyond managing RFPs, Healthx is leveraging its Loopio Library as a repository of company knowledge across different teams:
- Sales: pulls product data for their face-to-face meetings with prospects
- Customer Service: finds product and release specifications for customer inquiries
- Sales Enablement: finds technical information for onboarding and training
- Security: pulls information for Security Compliance applications