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Loopio Releases Comprehensive Industry Report on RFP Management


This press release was originally published on PRWeb. 

TORONTO, Dec. 10, 2019 - Loopio, the leading provider of Request For Proposal (RFP) response software, is excited to share the results of one of the largest research surveys on the oft-overlooked RFP response process.

The findings from the 500-person study were used to create the inaugural RFP Response Management Benchmarks and Trends Report. The resource gives a comprehensive look at the current state of RFP management across 14 industries. It also includes performance benchmarks, an analysis of the key challenges organizations face in the response process, and an outlook on investments and trends for 2020.

"Loopio has always aimed to be at the forefront of thinking with respect to RFP management,” says Zak Hemraj, CEO and Co-Founder of Loopio. “For the past six years, we’ve provided the market with tools and frameworks for improving the RFP response process. This new research fuels the conversation with data-backed insights so that we can help the entire industry raise the bar."

The report surveyed individuals involved in the RFP process from companies across North America, which ranged in size from less than 100 people to 10,000+ employees. Loopio surveyed a variety of job roles involved in the RFP process—including Proposal Managers, Sales and Marketing Executives, Solutions Engineers, Information Security professionals, and more—so that a holistic analysis could be conducted.

Some key findings from the report include:

The report establishes performance benchmarks for the following industries: Advertising & PR, Education, Financial Services, Hardware, Healthcare & Medical, Industrial & Manufacturing, Insurance, IT & Services, Legal Services, Media & Publishing, Non-profit/Government, Software, Supply Chain & Logistics, and Telecommunications.

Responding to a Request for Proposal (RFP) is usually an arduous process that crops up unexpectedly—and often comes with tight timelines. Because of this, many companies don’t invest in operationalizing or optimizing how they handle them. However, the RFP Response Management Benchmarks and Trends Report illustrates how the right resources and processes can drive success.

Access a copy of the report. 

About Loopio

Loopio is a Toronto-based technology company that helps enterprises supercharge their responses to RFPs, DDQs, and Security Questionnaires. With Loopio, companies can empower their teams to respond faster, improve response quality, and ultimately win more business.

Loopio is one of Canada’s fastest-growing tech startups. It was ranked as the 13th fastest growing company on the 2019 Deloitte Technology Fast 50™ list and has twice been selected as one of LinkedIn’s Top Startups in Canada.

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