1 Proactively present value to Procurement before RFPs are issued
Being invited to respond to a Request for Proposal (RFP) after carefully nurturing a prospect takes your Sales Force one step closer to closing a deal. Unfortunately, an RFP is by no means a done deal.
Unless you have an entrenched relationship or can offer the best total solution (which includes superior product and support, lowest price and total cost of ownership (TCO) and checks all the relevant compliance boxes), you’ll still need to present a compelling value argument to Procurement and other financial stakeholders.
This means transcending the typical concerns of Procurement – such as the containment of costs, minimising of risk and ensuring compliance – to appeal to ‘growth catalyst’ revenue generation drivers. This is done through value creation and creating a competitive advantage through innovation.
Remember – Procurement teams are evolving past 'administrators.' Procurement is interested in proving its own value to the business, which means their requirements within RFPs are evolving and becoming more sophisticated. It also represents an excellent opportunity for your sales team to support the Procurement team in proving their worth to the organisation.
