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SUMMARY: When creating sales and bid proposals, sales teams often face challenges and inefficiencies that can mount up quickly and lead to lost time that could be spent connecting with customers. ROI calculators and the right software can help sales teams and business leaders better identify where time is wasted and highlight the areas that could really drive ROI for the business.
For businesses and brands to successfully move ahead in trying times, they must maintain their bottom lines. One of the primary ways that companies can maximize their earning potential is by utilizing the right equipment. Given the constraints many sales teams face due to the COVID-19 pandemic, companies need to take advantage of the products and services available to help their teams.
When it comes to responding to requests for proposals, time is money. Our own research found that the time workers spend away from customers — which should be the smallest priority of sales reps — tends to consume the most time. Lost opportunities can have a damaging impact on the company’s bottom line (and overall life span).
Thankfully, this is one of the problems that sales teams can overcome through time-management techniques. Two methods are particularly useful when it comes to creating winning sales proposals, crafting effective RFPs, and building compelling bids.
Some sales teams have difficulties grasping the levels of time and effort required to complete each specific task. To that end, the use of an ROI calculator enables every member of the sales team to determine what will be required of them ahead of time.
By using an ROI calculator, companies will be able to enter the number of people on the sales team or the number of people selected to work on each proposal or RFP response. Teams will then input the number of hours in each week or month that they plan to work on the project as well as their billable rate. After inputting this information, they can accurately calculate the cost savings they would experience by utilizing the appropriate software.
ROI calculators allow employers, or designated team leaders, the ability to compare their performance with other teams that use comparable programs to create RFP responses and bids. These dynamic calculators are extremely helpful when it comes to making decisions, as they help teams analyze the costs related to each product and uncover unrealized savings. Discovering how many hours they can reclaim can go a long way for increasing productivity and morale.
Think of the sales team as a finely tuned machine. Without proper care and attention, these units can begin to corrode and experience inefficiencies that can hurt production. Rather than having an unguided sales team, utilizing effective software can help reduce frustration and increase productivity.
When it comes to putting together sales proposals and RFP responses that are effective and efficient, using the proper software can make a world of difference. Many sales teams find Qorus software to be extremely beneficial in reducing the time and work required for each task. Through powerful recommendation engines, sales team members can quickly locate the most suitable attachment, utilize templates specific to each bid, and put together quality proposals in a flash.
Using the proper software allows sales team members to reduce the time they spend sifting through countless files and documents for the perfect fit. By having adequate tools, teams can thoroughly calculate the time and effort necessary to perform each task.
In 2021, it is mission-critical that you know how much time your team spends on each task and try to develop ways to make each project more efficient. Time is money, and money isn’t cheap. Knowing the costs in advance — as well as potential cost-saving measures — can help to maximize your sales team’s time and efforts for each project and set you up for sustained success.
About the author
As Executive Vice President of Marketing at Qorus Software, Jennifer Tomlinson works to identify business needs and help its clients generate revenue more effectively and efficiently.