Despite the fact that there are over 2,000 government agencies in the United States, government bidding opportunities are few and far between. A contractor company has about a 12% chance on actually winning a contract. Those are scary odds for any business! Considering contractors rely on contracts such as these, it is imperative that contracting companies respond to government proposals in the best and most vibrant way possible.
A recent study by Bloomberg found that eight out of 10 entrepreneurs fail within the first 18 months of a new business. It is little different in the contracting business, and it just goes to show how difficult it is for contractors, or for any business owner for that matter, to make it past two years. That is why many contracting companies use proposal management software to handle responses to Request For Proposals (RFP). What is proposal management software? Proposal management software (also known as proposal creation software and proposal pricing software) is a program that handles responses to RFPs, both government and private. RFPs typically require a considerable amount of paperwork. From business letters, invoices, and quotas to inventory lists, business plans, and company history, the documentation needed for responses can become overwhelming. With proposal creation software, however, contractors can compile all the necessary information with ease. Not only does this software collect and organize all the necessary data, it can check for duplicate or missing information — a problem many businesses encounter when dealing with a copious amount of paperwork. And once everything is there, the software can help shape it into a presentation that will be sure to blow away whoever is reading it.
The business of government bidding opportunities is quite difficult. But with great challenge comes great rewards. For more information about proposal pricing software, feel free to leave a comment or question at the bottom.