Challenge: Sales Reps Lacked a Fast, Easy Way to Access RFP Information
When Qualtrics hired their first proposal manager in 2014, the company didn’t have a formal process for managing RFPs. Sales reps were on their own, and their bids lacked consistency.
Once they had a dedicated proposal manager in place, Qualtrics built a library of RFP content in Google Drive to create better quality responses. However, the system wasn’t easy to navigate, so reps continued using content from old RPFs ad hoc. This made it difficult to edit bids, update content, and respond to urgent requests quickly.
And by 2015, RFP volume had more than doubled. Qualtrics tripled their number of proposal managers but recognized they needed a dedicated tool to truly scale efforts and keep up with the rising volume of RFPs supporting the growing global business.
Solution: RFP Automation that Supports Global Business Growth
The Qualtrics proposal team chose Loopio’s RFP response software to scale their process because it centralizes content so they can better support global sales teams. Here are four reasons why they love using Loopio:
- Improved collaboration. Loopio makes it easy for global team members to work on RFPs and handle a higher number of bids. Using just one platform, the Qualtrics team does everything from importing proposals to having internal experts answer questions and exporting the RFP in a branded format.
- Immense time savings. Loopio’s smart content library stores all of Qualtrics’ RFP content in a single location so sales reps and proposal managers can access accurate, on-brand information quickly. “Loopio makes it easy for us to complete RFPs and security questionnaires,” says Ashley Evans, Proposal Manager. “I can’t imagine hunting through multiple systems and files every time I need RFP content.”
- Greater accountability. RFPs always require input from sales reps and other stakeholders. In the past, it was hard for proposal managers to keep their global team on track and identify roadblocks. But with Loopio, they can now assign questions and deadlines to people. Loopio provides built-in accountability that helps Qualtrics meet RFP deadlines efficiently.
- Global content governance. Maintaining a high-quality proposal library requires effort and discipline—but Loopio’s automation and tracking tools make it manageable. Automated content reviews and reports help Qualtrics’ team keep up with evolving product messaging and ensure accuracy and consistency across proposals.
Results: Responding to RFPs Faster and Closing More Deals
When Qualtrics first adopted Loopio, only proposal managers and a few other key stakeholders were onboarded to the tool. However, in 2018, Trevor Evans became the Global Proposal Strategic Leader at Qualtrics and saw an opportunity to maximize the tool’s value by providing all sales and pre-sales team members the opportunity to self-serve and help build RFP responses.
The proposals team scaled their process from supporting one hundred users to more than 1,000+ team members globally—creating a collaborative environment that allows every expert on the revenue team to contribute to the RFP process. Today, Qualtrics’ proposal management team recognizes Loopio as the backbone of everything they do and a critical component to achieve the following results:
- Influenced millions in annual revenue through RFPs. Loopio makes it easier to respond to a high volume of RFPs so Qualtrics can take advantage of every sales opportunity and win more business.
- Scaled their RFP processes to support a global sales team. Qualtrics onboarded 1,000+ sales professionals from North America, Latin America, EMEA, and Asia-Pacific. Together, they use Loopio’s platform to support hundreds of RFPs per year, involving diverse expertise to better answer RFP questions, and in turn, increase their chances of advancing to the next stage of the sale.
- Built a process to answer security questionnaires in days vs. weeks. Loopio reduces the amount of time it takes to complete a security questionnaire from 1-2 weeks to just days. This speed allows reps to close deals faster and bring in more revenue for the business.
- Reduced the cost of selling. Loopio allows the Qualtrics team to complete proposals 3x faster than their previous methods. This lowers the cost of selling, as each RFP requires fewer hours from multiple stakeholders.