RFP360: A Robust Tool for Managing the RFP Process from Beginning to End
Updated July 05, 2022
RFP360: A Robust Tool for Managing the RFP Process from Beginning to End
Score 9 out of 10
Vetted Review
Verified User
Overall Satisfaction with RFP360
We use RFP360 as the foundation to perform RFI and RFP/Vendor Search projects on behalf of our clients (ERISA Consultation, on a project or retained basis). We use RFP360 to manage the entire process: database of questions, RFP document construction, provider contacts, publishing the RFP to potential respondents, receipt of proposals/responses, follow-up communication with respondents, and evaluating/scoring of responses.
- RFP Question Database: RFP360 provides a robust, easy-to-use tool for maintaining a database of questions to draw from. This makes it very easy and efficient to create an RFP questionnaire that is customized to our clients' needs.
- Project Management: RFP360 provides tools to organize and execute an RFP/Search project from beginning to end, and to keep the project on track and efficient. After the initial work of creating an RFP Questionnaire and identifying potential respondents, it is very easy to publish the questionnaire, handle questions/follow-up, send out additional information mid-stream, and track receipt of proposals/responses. Additionally, the RFP360 tool automatically handles the receipt and processing of responses, including setting them up for evaluation.
- Evaluation and Scoring System: RFP360 provides a flexible and powerful weighted scoring system that allows us to "grade" responses to each individual question, and to accurately provide the appropriate amount of emphasis based on the relative importance of the question (as determined by us when we set up the questionnaire). This provides a very powerful means of quantifying our analysis of responses. Additionally, RFP360 makes it fairly easy to evaluate responses from each vendor side-by-side, question by question, which is critical for accuracy and fairness of the analysis process.
- Analysis Tools: although what is provided is quite good, there is definitely room for improvement. For instance it would be nice if it were easier/quicker for each evaluator to record their notes/comments when scoring, and to be able to search through those notes/comments later. Also, it would be really helpful to be able to annotate/mark-up the actual responses (highlight, underline, circle, call-out notes, etc.), with such mark-up tracked by evaluator, and with the option to hide/show mark-up.
- Results Analysis, Reporting, and Presentation: in my opinion, this is the only area of weakness in RFP360. There are very limited options, after scoring/evaluation of responses is completed, for generating reports, graphs, charts, etc. to be used in evaluating results and presenting to the end client. I've always had to export the scores and use Excel to create the necessary visuals for final analysis and presentation.
- Complex Questions: RFP360's ability to handle complex RFP questions (e.g. involving tables, charts, multi-part answers, graphics, etc.) is limited, and existing capabilities in this area are fairly cumbersome to navigate and use.
- Client Confidence: the use of RFP360 has allowed us to deliver a demonstrably robust process to our clients, providing them a very high level of confidence in the quality of our work.
- Time Efficiency: RFP360's services provide a great deal of time-saving in the management of virtually the entire RFP process.
I was not involved in the process of selecting RFP360 for our firm, so I am largely unfamiliar with competitors. I am, however, quite pleased with RFP360 as a user, and am confident that my colleagues who were responsible for making the decision were thorough and discerning.
Do you think RFP360 delivers good value for the price?
Yes
Are you happy with RFP360's feature set?
Yes
Did RFP360 live up to sales and marketing promises?
I wasn't involved with the selection/purchase process
Did implementation of RFP360 go as expected?
I wasn't involved with the implementation phase
Would you buy RFP360 again?
Yes