Published 19 May 2023 | By Eunice Arcilla Caburao, Leon Altomonte

12 Best Request for Proposal Software of 2023

people using a request for proposal software

What is a Request for Proposal Software?

Request for proposal (RFP) or request for quotation (RFQ) software is a tool that streamlines the different processes of proposal management, from drafting templates that outline the details of a project to finalizing quotes affixed with digital signatures. This all-in-one digital solution also tracks submissions and analyzes the competitiveness of the bid, making requests valuable to procurement officers and, at times, even vendors.

Importance

Well-created RFPs and RFQs help jumpstart projects. Badly-written ones, incomplete or too vague, may lead to problems. Software request for proposal or quotation helps procurers draft with clarity. It also allows vendors or suppliers to see if they are the right people for the job. Here are some reasons why this is a must-have:

  • Streamlines RFP process – Manually writing requests for proposals is challenging because solutions must be comprehensive, detailed, and sustainable. Sending RFPs via e-mail for checks and getting responses is repetitive and time-consuming. Using the best request for proposal automation software makes this process faster and easier for everyone involved.

    Minimizes inaccuracies – The procurement team sifts through a ton of information during the early part of the process. Ironing out the details of the proposal or quote by removing outdated or inaccurate insights and figures is facilitated when data is digitized.

  • Enhances collaboration – When drafting RFPs and RFQs, getting input from other departments is critical. Automating the process allows teamwork because everyone involved sees what other teams are working on and adjust as needed, which leads to better results.
  • Ensures compliance – Accountability and transparency are required when producing RFPs, especially in government-subsidized projects because funding comes from taxpayers. Software solutions ensure all stakeholders get accurate information and strictly adhere to the parameters set.
  • Increases productivity – Ascertaining the validity of facts and figures is cumbersome and time-consuming, it barely allows for any other job done. Request for proposal or request for quotation software does the heavy work so procurement managers can focus on other tasks, like submitting more RFPs and RFQs.

Key Features

Because digital solutions for managing RFPs and RFQs are vital to the success of any project, you won’t have any problem finding one because numerous IT companies offer this today. Make sure that your choice has the following essentials:

  • Customizable templates
  • Content management
  • Document repository with approval access
  • Multi-user collaborative tools
  • Document sharing and tracking
  • Built-in reporting and analytics
  • Integration with third-party tools

Selecting the Right Request for Proposal Software

The platforms listed above are considered by experts as the best request for proposal software online today. Take another look at all twelve in the summary below:

Request for Proposal Sofware Free Version Paid Plan Mobile App
SafetyCulture Yes $19/user/month* Yes
RFPIO No Not indicated on the website No
Loopio No Available upon registration No
Qvidian No Not indicated on the website No
Zbizlink No $199/month No
Proposify No Starts at $59/user/month* Yes
Procurify No $2,000/month*
All in one pricing
Yes
Zycus No Not indicated on the website Yes
Coupa No Not indicated on the website Yes
Bonfire Yes (free templates) Not indicated on the website No
ClientPoint No Starts at $95 per user monthly No
PandaDoc Yes Starts at $19/user/month with free trial Yes

*billed annually

Eunice

SafetyCulture staff writer

Eunice Arcilla Caburao

Eunice is a content contributor for SafetyCulture. A registered nurse, theater stage manager, Ultimate Frisbee athlete, and mother, Eunice has written a multitude of topics for over a decade now.

Eunice is a content contributor for SafetyCulture. A registered nurse, theater stage manager, Ultimate Frisbee athlete, and mother, Eunice has written a multitude of topics for over a decade now.