What is proposal software?
Proposal software, also called sales proposal software, helps salespeople write and send sales proposals to possible buyers. This software can have calculators, proposal templates, and other tools to help salespeople make deals. Some sales proposal software also has reporting tools to help sales managers track how well their teams are doing.
Synonyms
- Sales proposal software
- Proposal management software
- Proposal automation software
- Proposal generator
Why using proposal software is a good idea
Software for sales proposals can help salespeople make, keep track of, and handle sales proposals.
Because of this digital change in sales, salespeople can spend more time selling and less time doing paperwork. Sales proposal software can also help salespeople.
- Raise the number of wins by making proposals better
- Send proposals out faster with templates and wizards
- Keep track of the state of proposals easily
- Use the built-in editing tools to cut down on proposal changes
It makes it easier to win
The best thing about proposal software is that it helps companies get more contracts. With proposal software, sales teams can quickly and easily make plans that look professional.
This lets them include all the valuable information that could help people decide to buy. Customers may see companies as more trustworthy, giving them an edge over other sellers.
Automates your proposals
Sales teams can make offers more quickly and efficiently when the process is automated. This gives them more time to focus on selling.
Sales proposal software can also help sales teams ensure their proposals are legal and aligned with company branding. It can ensure that all the necessary price quotes and contract details are included, the proposals are correctly formatted, and they look professional.
It helps salespeople get back in touch with decision-makers quickly and ensures that all the steps needed to send in a total bid are taken.
Also, salespeople can use it to keep track of their prospects and see how their offers are coming along. If you use this knowledge to improve your following proposal, you’ll have a better chance of winning.
Cuts down on revisions
Companies can reduce the number of changes they have to make to their sales plans with the help of software. Sales reps can make and send offers quickly and easily now that the software is in place.
The software will help ensure that proposals are correctly formatted and have all the necessary information. This can help reduce the number of changes that need to be made, saving time and money.
What Proposal Software Can Do
The following are standard features of proposal software:
Templates with logos
Many companies use sales proposal software to make a custom form when making a sales proposal. This helps sales reps ensure that their proposals are always written the same way and have all the needed information.
Proposal templates are another way to ensure that plans are complete and well-organized. Also, software for making sales proposals often includes examples of different proposals, like bids and quotes.
Proposal Editor
Any sales proposal software needs a proposal editor tool so users can quickly and easily make, change, and format their proposals. A proposal editor makes it easy for users to add text, pictures, and other things.
There’s also a quick way for them to organize the text and make changes. This makes it simple for users to make plans that look good and are simple to read and understand.
Following up
With the tracking tool, businesses can monitor their proposals and see how each progresses. This helps them stay prepared and on top of their sales leads.
There is also a dashboard in the tracking tool so businesses can quickly see their proposals. This shows the current state of each plan, such as when it was sent, when it’s due, and whether it has been accepted.
Statistical Analysis
A lot of sales proposal software has a tool called “proposal analytics” that lets users track how well their proposals are doing.
This feature can tell you a lot about which proposals are winning and which are losing, as well as what parts of a proposal connect with potential buyers and what do not.
So, the proposal analytics tool can help salespeople make their proposals better, which can help them get more business.
Adding things in
The company’s customer relationship management (CRM) system is often linked to sales proposal software. It’s now easier to keep track of customer information like their contact details, how they’ve interacted with you in the past, and the state of their account.
This information will be pulled into sales proposals immediately if the software is linked to the CRM. This will save time and make sure the proposals are more accurate.
A CRM can also help sales reps get back in touch with customers after sending them a proposal. The person who is following up can do it manually or automatically using pre-established rules. The CRM’s details will help make sure that no chance is lost.
Another beneficial combination is proposal and CPQ software (set-up price quote software). Adding sales proposal software to CPQ can help make the process of making bids faster and more accurate.
Once the two systems are linked, the CPQ system can get product details and prices from the database to make a correct and up-to-date offering.
It is more likely that mistakes will be made in the plan if the two systems are not linked. If a business sends a client an inaccurate plan, they may have to go back and fix it, which takes time and costs money.
Peace of mind
Ensuring the data is safe when making and sending offers is essential. The safety aspects of sales proposal software include encrypted data, password protection, and audit logs.
If they use password protection, companies can make people enter a password to view and read their proposals. This ensures that only those who can see the paper can.
Similar things happen with encryption, but the data is hidden, so it can’t be read without the right decoding key, even if it gets stolen. Logs of all software actions track who viewed the proposal and how they interacted with it so sellers can see who did what.
ESignature software for sales proposals that supports eSignature lets you sign proposals and track who has seen them.
ESignature also lets sales reps make a legally binding agreement, which helps them close deals faster. ESignature is also quick, easy, and safe—all good things.
With eSignature, buyers can sign papers immediately without waiting for the mail or for someone to fax or scan them.
People who want to buy something can sign papers from anywhere with an internet connection.
Furthermore, e-signatures are safer than regular signatures because they can’t be faked or changed without notice.
Adding payment options
When payment is integrated with sales proposal software, users can pay for quotes or proposals from the software.
This can help both the customer and the business save time and trouble. It can also help ensure that payment is received quickly, which can prevent problems with accepting or sending the request.
There are several ways to integrate payments, so picking one that works well with your sales proposal program is essential.
Tips on How to Pick the Best Software for Your Business
There are some things that sales operations teams should think about when picking the proper proposal software.
- Make sure that the software works with other systems and software and is easy to connect to them.
- Ensure the software is simple to understand and will help you make more sales. It should be simple to train new sales team members and take them a little time to get used to using it.
- The software must have all the tools that the sales team needs. It should have templates, graphics, and other features that make making proposals easy.
- It should be cheap and help you make a lot of money.
- Ensure the program is well-known, has good reviews, and is simple to set up and fix.
Digital sales rooms are the next big thing in sales proposal technology
As sales become more digital, sales proposal technology is changing to help sellers give buyers a better, more collaborative experience with the sales price and proposal.
A digital sales room is an online area where business-to-business (B2B) companies can share resources and information with potential buyers. This makes the buying process easier.
The next big thing in sales plans is digital sales rooms, also called virtual deal rooms or sales microsites.
A digital sales room usually has catalogs of goods, price quotes, order forms, sales proposals, contracts, and other content that customers could find helpful.
Businesses make it easy for their customers to do business with them by putting this information online.
DealRoom is an example of a digital sales room because it brings buyers and sellers together in one virtual place, which makes it easier for them to work together and creates a smooth sales flow.
