As Bristol is home to the management of a mid-size accounting firm with several hundred proposals going out each year, it was only then that we cried: A major client had been lost to an unfortunate mix-up with a proposal.
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One software implementation accounting proposal software set the stage for order out of chaos. The new process not only saved us time but also greatly improved our winning ratio.
Things were horrible before. Our proposal templates were stored in various formats: local hard drives, shared folders, and even email attachments. Different team members each had their own version. This led to inconsistencies in pricing, the description of services, and branding. There had been instances where fee structures or service terms were outdated, and it was only after sending proposals to prospects that these discrepancies were discovered.
The First Step
The very first step was a thorough audit of all of our already-existing proposals. With few exceptions, we found over 40 different and slightly varying versions of our core service proposals out there. The software allowed us to funnel them all into one dynamic template library comprising standardised sections for different sorts of service offerings.
Quality Control
Still, one of the most significant enhancements took place in quality control. Built-in approval workflows in the software guaranteed that every proposal was properly scrutinised before landing on the clients’ desks. The consequence, then, was the elimination of embarrassing blunders and the establishment of consistent pricing across all the members of any given team.
It was a huge impact on our metrics: the average time in which a proposal was made was reduced from three hours to 45 minutes. Even more importantly, within the first quarter, the acceptance rate for our proposals increased from 35 to 62%. Clients commented on how our proposals were much more professional and clearer.
Team Members
Training team members on the new system was easier than we had anticipated. The user-friendly interface enabled less technically inclined colleagues to quickly throw together professional-looking proposals. This democratisation of the proposal process made time available for the senior partners to focus on strategy and client relationships rather than proposal review.
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Our proposal process is now a matter of pride instead of one of stress. The structured approach provided the foundation to ensure that we maintained a high standard whilst scaling our business. What we learnt from this transformation goes beyond proposal management—it opened our eyes to using technology to help us consider monstrosities in operations.