“Increasing throughput with improved content accuracy ensures our compliance to customer requirements and drives guaranteed revenue achievement.”
The burden of responding to security questionnaires has become a fact of life for many organizations—most especially banks and other financial service businesses, healthcare enterprises, and technology service providers. However, any business that manages or stores data such as sensitive customer information including financial details, intellectual property, or employee information is likely familiar with the burden and cost of completing these highly detailed questionnaires. Combine that with the day-to-day reality of managing the normal influx of RFPs, RFIs, and delivery of proposals (each with their own unique set of pain points), the proposal team is left juggling priorities, deadlines, and content accuracy. Automation of any or all of the proposal and questionnaire process is critical, but what does that really mean?
The good news is there is a way out of the current reality for many organizations. Cloud-enabled RFP and proposal management solutions provide significant capability to improve the current state of the proposal team. By implementing this type of solution, the proposal team can:
Respond with increased confidence. Security questionnaires are known for their highly technical nature and require answers that a single member of the proposal team may not necessarily know. By maintaining a library of saved content with appropriate editing controls and associated expiration dates content is always accurate and up-to-date.
Meet critical due dates. Current or prospective customers often submit security questionnaires at the last minute often as an afterthought. Saving common question and answer pairs drives time savings in responding to future security questionnaires. With dynamic, drag and drop capability, creation of document content can be significantly reduced, and real-time proposal/questionnaire tracking further provides visibility when time is of the essence.
Ensure compliance. Assembling the final proposal document supported by the completed responses to the security questionnaire can be daunting. Intelligent workflows ensure the right subject matter expert (SME) answers the right content. In addition, these workflows can be saved for the future use to update or maintain content.