#Contisoft Technologies LLP

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The Four Steps Essential To Choose The Right RFP Tool

Adoption of tools like Request for Proposal Tool for RFP, Supplier management software, etc. have altered the number of processes in businesses. The primary objective of these tools is to make a particular procedure efficient and streamline it. 

In this article, we are going to understand in detail about RFP tools and five steps that would help you choose the right RFP tool.

What is RFP tool?

RFP tools are contract management software. It simplifies and streamlines the tedious process of contract management with the help of technology. 

How to choose the right RFP tool?

Choosing the right RFP tool is essential for ensuring efficiency and growth. Let’s understand the four steps that make choosing the right RFP tool easy.

Step 1] Understand RFP team requirements

Before installing an RFP software, you must discuss with all the stakeholders of the RFP team. In this meeting, you should understand their workflow, discover gaps in the flow, and opportunities that can help in the automation of the RFP process.

Step 2] List the features your organization requires

There are various RFP software’s available in the market. They all come with numerous features that you may or may not require. Therefore, you after discussing with the RFP team should list down on all the features that are essential for your organizations RFP process. This will enable you to select the product that matches your organization’s objectives.

Step 3] Understand the cost your organization spend on RFP

Before negotiating the price, you need to understand the right amount that you are willing to invest. To do it, you need to understand the hours all the members are spending on RFP procedures. Following the hours would make it easier for you to calculate the ROI.

 After calculating the ROI, you will be able to understand the right price that you should invest. If you don’t do it, then there are possibilities that you may find the software costly. 

Step 4] Understand the product

After you have finalized the software, you must understand the product in detail. You should organize a demo session that should be attended by all the RFP stakeholders. In this session, the priority features that your organization required should be explained in detail. If any team member has any questions, they should be answered. Furthermore, the focus should be on understanding user experience. 

Conclusion

Following the above mentioned four steps would make it hassle-free for you to choose the right RFP tool. RFP tools come with a number of benefits for your organization, but the primary advantage is that it saves a lot of cost in the long run. Therefore, making them cost-effective. 

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Contisoft Technologies LLP.

We Develop Procurement, Contract & IT Asset Management Solutions Around Four Key Strategic Areas – Supplier Onboarding, Contract Management, ERFX/Q, DoXCompare!

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Find out how our contract management software simplifies procurement and contract management for you Other key areas include Supplier on boarding and DoXCOMPARE

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Document comparison made easy with document comparison software

The Internet has proven to be a boon. With it, we can get information quickly, communicate with each other instantly, and even work collaboratively. Nowadays, collaborative working is something that has become a common concept in nearly every type of organization. Everyday many professionals collaborate on various documents with their colleagues and even clients. These collaborations often end up changing the originals document that was first shared. Sometimes, these changes are minor and go unnoticed. But even slight changes in a document are sometimes crucial and can cause trouble for organizations. There are many reasons behind these changes going unnoticed, but the primary reason is that these documents were earlier needed to be compared manually, and the possibility for human errors is always there. To safeguard themselves from becoming vulnerable to a situation where minor changes in a document can cause trouble for their organization, many organizations have started using document comparison software.

 What is document comparison software?

A document comparison software is a tool that helps in comparing two documents. It can be contracts, agreements, and other legal documents in any file types such as Word, Excel, PPT, and PDF.

  What are the features of a document comparison software?

A document comparison software offers a bunch of features. Some of them are listed below -

●       With the document change feature, it highlights all the modification and editing that has been done in the document. This helps the user to spot the changes without any trouble.

●       With the document comparing feature, it accurately identifies and analyzes all the changes and editing such as insertion, deletion, etc. to any type of document.

●       With the document security feature, it maintains data privacy and security of the documents.  

●       It is web-based, means a user can compare document from anywhere and at any time.

●       It has an interactive user interface that makes it easy for the user to use and understand the software.  

What are some of the best document comparison software providers?

Here is the list of some of the best document comparison software providers-

1] DoXCompare by Contisoft Technologies

2] Docscorp - Work Smart

3] CopyLeaks by Copyleaks Technologies

Conclusion

A document comparison software eliminates any possibility of human error. This guards your organization against falling prey to unwanted legal circumstances that might have caused you trouble if the changes in a document had gone unnoticed. Along with that, being cost-efficient it saves your organization from burning a lot of cash on the document management process.

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Stop Tracking Expiry Dates Manually - Benefits of Using Expiration Date Tracking Software

Every business has some standard set of tasks that they need to perform to ensure their office operations run smoothly. One such common task is tracking expiry dates. On average most businesses invest 20-24 hours per week to keep track of expiry dates using tools like Excel or paper-based book and to notify the respective person who is responsible for renewing it. Roughly, businesses spend 80 hours per month and 960 hours per year keeping track of dates. Meaning, your business is roughly spending 40 days that could have been used in other important tasks. This has proved to be a prime reason that has pushed various organizations to embrace an expiration date tracking software for their offices.

 What is an expiry date tracking software?

An expiry date tracking software is a tool that takes care of all expiration and renewal dates, without you needing to check it regularly. Moreover, it will send notifications to the person that has the responsibility to perform the renewals.

 What are the benefits of an expiry date tracking software?

Well, if you are assuming that an expiration reminder software only saves your time, then you are unaware of all the fantastic benefits it has in store for you. To gain a clear picture of the benefits of using an expiry date tracking software keep reading.

 ● It comes with an automatic reminder feature for all the saved items, thus ensuring you never miss a renewal date.

 ● It comes with customized notification feature, that sends you alerts of upcoming renewals through emails and texts.

 ● It comes with one screen interface, that brings all the vital information related to renewals and expiration on one single screen. Moreover, it has a user-friendly interface, that makes it easy to understand.

 ● It is web-based, that makes it accessible from any device such as a laptop, computer or mobile.

 ● It comes with an Android App so that you don’t miss any order dates, even if you are not in the office.

 ● It uses SSL encryption thus ensuring all your data is safely stored, and only you or authorized people access the data.

Conclusion

While this tool can help you track expiry dates, there are different digital office management tools like e-procurement software, document comparison software, etc. that streamlines all the processes at your office. Moreover, they also save time and money. Besides, they help in improving communication and keeps all the people in your office on the same page. So that together, everyone can focus on growing your business.

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Benefits of TenderITnow by Contisoft

TenderITnow is a Request for Proposal (RFP) tool developed by Contisoft. It is an online electronic request that helps in automation of all the RFP procedure. Here one can get all the RFPs at the same place and can manage them. One does not need to use any manual communications. Along with these, one can get all the quotes online and centralize the whole buying process at a single site. The templates of RFP provide everything for getting information to suppliers. Here, we can easily assess the suppliers, equate them and can conjoin with them. Files can be uploaded over here, and response deadlines can be given.

 The benefits of TenderITnow by Contisoft are listed below-

 1] Benefit to the vendor - This RFP tool does not need any kind of manual effort. One can very easily reply to RFP online, can effortlessly upload all sorts of documents, operate from anywhere and then see all the documents attached from buyers. This tool helps in cutting the response time.

 2] Easy to configure - The questions over here can be easily configured as per one’s need. Needs of different companies can be different, and this request for protocol tool allows to set the questions as per the diverse requirements of the companies. This is one of the central importance of this tool.

 3] Facilitates techno commercial procurement requirements - TenderITnow has only one window for inviting techno commercial quotes from different vendors. This request for protocol tool facilitates on click techno commercial comparatives, daily purchases and helps in processing techno commercial procurement requirements.

 4] Benefits to the buyer- TenderITnow helps in setting up the RFP as per the needs of an individual or an individual company. One can classify while creating RFP by category or subcategory, add questions as per requirement and can manage all the data that are centralized for all the RFP and RFP responses.

 5] Full visibility- TenderITnow has a dashboard that provides total luminosity of the RFP analysis like RFP response received, RFP published, RFP closed and saving through RFP. This dashboard is an essential feature of this request for protocol tool.

 6] RFP creation- RFP can be created easily by this request for protocol tool. One can make RFP with the new description, question, category, supplier, etc.

 TenderITnow is an e-procurement software that increases the effectiveness of the whole RFP process, and it saves time for the buyer as well. All the RFPs can be seen under one roof, comparison of the suppliers can be made quickly, and decisions can be taken effectively.