Proposal management software is a computer program that allows users to generate, manage, send, and track business proposals. It is usually cloud-based.
A software streamlines the closing process by combining all proposal writing, design, mailing, tracking, and electronic signature technologies into a single platform.
That is just the basic version.
Proposal management software, in reality, is much more. It often contains app connectors, proposal templates, custom fields and variables, roles and permissions, payment process technology, and even in-proposal chat – all of which are meant to assist your team in closing every deal.
Here’s why every sales team (that wants to succeed) should be using proposal management software now that we’ve defined what it is and what it can achieve.
Real-time proposal monitoring
The use of apps and tools that track and record continuous snapshots of your network’s overall performance is known as real-time monitoring.
Every company, regardless of size, may benefit from real-time network monitoring.
How can companies tell if their salespeople are getting the most out of their time?
A proposal builder aids in the monitoring of the entire sales process to ensure that each team member stays on track.
Proposal builders help in the elimination of procrastination and ensure that no duty, no matter how minor or large, is overlooked.
Sales teams may focus more on selling with more energy and productivity if they use the correct proposal builder.
The security and performance of a network can have a big impact on a company’s overall success.
That’s why every company, especially those in the e-commerce industry, needs to keep an eye on its networks regularly to ensure everything is functioning well.
You need to have a strong understanding of what real-time network monitoring is and how it may benefit your business to have a clear image of how your systems are performing.
Easy follow up and nurture leads
Give your sales team more time in front of prospects and clients to empower them. This is because proposal software automates a large portion of the document generating process.
It also shows you which parts of the paper your prospects are looking at, allowing you to make more informed follow-ups.
Most proposal software will provide you with extra information about your proposals. You will know when a proposal has been opened; then, you can follow up on it at the right time.
Additionally, certain proposal software allows you to customize the design of your proposals so that it perfectly suits the style of your aesthetic.
You might also include useful online features in the proposal. All of this assures a higher conversion rate and, as a result, a higher success rate for your released conversion.
As a result, proposal software allows you to issue, follow up on, and monitor proposals more quickly and efficiently. You can also work in a less error-prone manner.
Generate proposals faster
When it comes to closing a sale, timing is everything.
One of the most common problems is that there isn’t enough time to finish everything before the deadline for a sales proposal.
This could be because salespeople are often frustrated by a multitude of reference documents and files and are unsure which one to choose.
Worse yet, they frequently select the incorrect template, forcing them to rework the entire proposal later.
Within a single document, sales teams spend a lot of time editing, copying, pasting, and renaming information.
When preparing proposals, sales teams can save time by using proposal writing software to avoid the need to create each proposal from scratch.
Proposals prepared with a proposal builder are more consistent, error-free, and up-to-date, including pricing.
Sales teams can save time using templates and pricing packages if they use the correct proposal generator – they won’t have to start from scratch every time they need to create a proposal.
The length of the end-to-end enterprice sales cycle is affected by this.
Creating proposals faster allows sales teams to schedule more meetings and deliver proposals to a larger number of prospects, boosting the chances of the company gaining more clientele.
Easily integrate your proposals with existing payment and bookkeeping Systems
When a salesperson creates or edits a proposal template with a traditional documentation tool, the formatting possibilities are limited. Sales teams can use a proposal builder to access several integrations that are already part of their sales process.
As an example, a proposal builder program can pull the most up-to-date pricing information from one system in real-time, while client data can be obtained from a CRM tool.
This speeds up and simplifies the proposal writing process.
A newly created proposal can be uploaded to the sales pipeline if the proposal builder is coupled with project management software, allowing for improved tracking and management.
Scale Your Business and Growth
Creating and sending proposals manually, no matter how you do it, takes time – and that’s assuming everyone on your team is already familiar with your approach.
That may not be a problem right now, but it will be once you start bringing in new clients and integrate a new training program for employees.
Because time is limited, it’s no surprise that entreprise sales executives struggle to build a scalable process that supports team growth while also shortening the sales cycle.
Additionally, sales executives can use proposal management software to create a scalable closing process that can be replicated across the entire team.
It also assists businesses in optimizing their current processes so that teams can focus on closing deals rather than wasting time creating proposals from scratch.
Furthermore, once these processes are in place, integrating new staff and reducing ramp time becomes considerably easier.
Organize your leads and opportunities better
Sales executives who use traditional tools like Word or Excel often waste time looking for the correct templates; this can be worse if they don’t have easy access to other important information, such as pricing, that needs to be included in a new proposal.
A proposal builder serves as a centralized spot where all the necessary information may be stored, as well as a variety of pre-built templates from which to choose.
Further, proposal builders function as a central repository for all an organization’s proposals, with a tool to categorize and arrange them.
This way, even if a sales executive has to refer to or find a proposal from years ago, he or she may do so quickly and easily.
Access to prior proposals also lowers the need for time-consuming meetings and back-and-forth communication, saving busy salespeople a lot of time.
Create beautiful proposals without any hassle
Proposal templates are commonly included with most proposal software and serve as an excellent starting point for your proposals.
Rather than starting from scratch every time you wish to send a new proposal, you can start with an existing template or design your own for more flexibility.
Then, all you have to do is fill in the blanks and tailor your business proposal to each client, and you’ll be sending out proposals in no time.
Client information, pricing, branded material, and other elements used to be manually gathered from spreadsheets and who knows where else.
You’ll be able to generate, store, and save bits and pieces of approved information that can be quickly accessed and incorporated into proposals as needed with the content library function.
Also, you might feel assured that any sections, snippets, or material you retrieve from the content library are correct and up to date because everything in it has been approved.
Close more proposals
At the end of the day, the goal of every sales team is to close deals. That is exactly what proposal management software does
In fact, we discovered that proposals prepared and distributed with a good proposal software like Prospero had a higher close rate than the industry average.
Proposal software helps your sales force close more deals by shortening the sales cycle, enhancing teamwork, and streamlining the proposal process. If it doesn’t persuade you of its worth, we’re not sure what will.
The software will assist you in designing and creating amazing proposals every time. You can also use photographs, videos, and other assets to make your offers stand out.
After all, offers that stand out are more likely to be accepted. In fact, incorporating at least one image into your business presentations can boost your close rate immensely.
At the end of the day, the most effective proposal is one that turns prospects into customers. The important thing is that it closes, whether it’s done by hand, in Microsoft Word, or online.
We’re not suggesting that sending proposals by hand isn’t possible, but it’s not the most effective or efficient way to gain new business.
On the other hand, proposal management software is. It brings together all the tools, resources, and data that the sales teams need in one place, making the proposal process more reliable, consistent, and scalable.
There’s no reason not to try it out with a free version right at your fingers.
We recommend trying the software Prospero. It can aid you how to write a signature-grabbing business proposal.