iovation Cuts RFP Response Time in 1/2 with Loopio’s RFP Software
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Pre-populating up to 90% of Risk Assessments -
Completing RFPs in 1/2 the time -
Pre-populating up to 80% of RFP responses
Iovation is a comprehensive device intelligence suite created to detect and prevent fraud as well as secure your business at every contact point. Used by thousands of fraud experts and risk managers all over the globe, Iovation helps reduce the probability of fraud and abuse of online channels, identify legitimate and trustworthy consumers, as well as determine and address fraudulent events that occur inside their organization.
RFP and Security Questionnaire response process before Loopio
When Tanner Volz, Technical Content Manager, first started at iovation, the company’s process for responding to RFPs and Security Questionnaires was not designed to keep up with the rapidly increasing volume of new opportunities. Much of the process relied on volleying questions back and forth over email, and then manually merging everything back together.
Why iovation chose Loopio’s RFP software
Once Tanner started exploring RFP response software, Loopio stood out. “I looked at other solutions that were older and more complex. I was immediately turned off by that. I liked that Loopio was simple. It was focused on solving one problem and doing it well.” Tanner remembers seeing that Loopio “reined in the chaos that RFPs are plagued by.”
“Loopio has helped bring order to a messy process. It gives us a much greater degree of confidence that we can effectively manage projects, identify risks, and get work done.”
Leveraging RFP response automation
After importing an RFP, the team runs Magic, Loopio’s automation tool, to pre-populate as many answers as possible with content from their Library. When running Magic, they use Category filters to search through their “golden” responses first. In a standard RFP, 50-80% of the questions are now auto-filled with Magic. In Risk Assessments or Security Questionnaires, which follow industry standards, it’s closer to 90%.
“Something that would have taken us hours or days to pore over is now automated. We don’t have to worry about it anymore.”
Using Loopio for Project Management, everyone’s assigned questions are distributed automatically. Loopio sends notification emails when questions are assigned out, and administrators send reminder emails on overdue tasks using Nudges. Using the Dashboard, administrators see a visual overview of Project statuses — with a breakdown of questions pending, assigned, and completed. To keep their Library up-to-date, the administrators meet weekly to decide which new Project content they want to feed back into their Library using Close Loop.
Today, iovation is using Loopio to track and automate their responses to every RFP, Risk Assessment, and Security Questionnaire that comes their way.
Why iovation Loves Loopio
“To be able to send Nudges from Loopio is a big improvement for us. You can only write ‘Urgent’ in your Subject line so many times.”
