There are a huge number of proposal software available, and they are all competing for the top spot in a particular category. As a result, businesses frequently struggle to choose the best proposal software for their unique requirements and end up making mistakes that end up costing them both time and money. In addition to costing time and money, it can result in lost productivity and failure to achieve key business goals.

Here are the top five mistakes businesses make when purchasing proposal software, along with advice on how to avoid them:

Top 5 Proposal Software Buying Mistakes

1. Not spending time shopping around

When it comes to proposal software, it is important to compare different options before making a purchase. There are many different vendors offering a variety of solutions, so it is important to find the one that best fits the company’s needs. However, many companies do not take the time to do this research and end up overpaying for a solution that is not right for them.

There are several reasons why businesses don’t shop around for a certain proposal automation solution:

• One of the team members has used the platform in the past
• One of the team members knows that somebody has used the platform
• Since there isn’t much time, the team concentrates on the first platform that shows up on a Google search results page

It’s so important to take the time to shop around before making a purchase. Here’s why:

• There are a lot of options out there, and not all of them are created equal. Just because one option is cheaper doesn’t mean it’s the best value for your money. By taking the time to compare different options, you can make sure you’re getting the most bang for your buck.
• Proposal software is constantly evolving. What might have been the best option six months ago may not be the best option today.
• It’s possible that a different proposal automation platform will provide greater customization options or function better with your existing workflows.

Don’t just go with the first proposal software provider you find. Take some time to shop around and compare different options. This will help you find the best software for your needs at the best price.

2. Moving too fast or too slow

Purchasing proposal software can be a big decision for a company. It is important to do your research and make sure you are getting the right product for your needs. Otherwise, you may end up wasting money on a product that doesn’t fit your company’s needs.

There are a few things that you should keep in mind when you are considering purchasing proposal software. First, you need to make sure that you understand what the product is and how it works. Second, you need to research the company thoroughly before making a purchase. Lastly, you should take your time when making a decision. Once you have all of the information, you can then make an informed decision about whether or not the product is right for you.

Be sure to give yourself enough time to properly evaluate all of your options before making a purchase. Rushing into a decision could end up costing you more in the long run.

And then there’s an opposite issue: moving too slow on proposal software buying decisions. Moving too slowly can actually be detrimental to your business. Here’s why:

• SaaS products are constantly evolving. If you wait too long to purchase a product, you may end up with an outdated version that doesn’t have all the latest features and integrations.
• By moving slowly, you risk falling behind your competitors who are already using the latest and greatest proposal software to gain a competitive edge. If you want to stay ahead of the curve, you need to be proactive about trying new things and embrace change.

Read more: G2’s Fall 2022 Report in which Fresh Proposals is awarded as a High Performer Tool in the proposal software category.

Fresh Proposals Review

3. Ignoring the e-signature solution

When it comes to buying proposal software, many sales leaders overlook the importance of having an electronic signature solution in place. This can be a huge mistake, as ignoring this crucial element can lead to all sorts of problems down the road.

An electronic signature solution is an important part of any proposal software purchase for several reasons. First and foremost, it helps to ensure that all of the business documents like proposals, contracts, agreements, SoW, etc are properly signed and filed. This can save a lot of time and hassle down the road if there are any issues that need to be addressed.

Secondly, with e-signature managing and tracking, sales proposals become easier and faster. With the lesser delay, it ensures better workflow efficiency. They also make it easier to organize the information and documents, as there isn’t any physical paper to search through.

And lastly, an electronic signature solution helps you protect your data. When you sign documents electronically, you are typically required to enter in some personal information like your name and address. This information is then stored in a secure database that can only be accessed by authorized personnel.

That’s why when you are considering purchasing proposal software you should make sure that the vendor offers an e signature solution.

Fresh Proposals handles all the aspects of the signing process with its e signature solution- from collecting consent, to delivering and storing the e-signed proposals/contracts/documents and detailed audit trail of the transaction. 

4. Opting for an open source instead of licensed

While buying proposal software, many businesses opt for an open-source product instead of one that requires a license. However, this can be a mistake. Here are three reasons why opting for an open-source product can be detrimental to your business: 

• Security Risks: Using open-source proposal management software could cost your firm security concerns that could end up costing your business more money than it would save.
• Limited Support: When you opt for open-source proposal software, you are usually on your own when it comes to support. This can be problematic if you run into issues with the software.
• Lack of Updates: Open-source products often lack the regular updates that licensed products receive. This can leave you vulnerable to security risks and bugs.
• No SLA: Without a service level agreement (SLA), you could be left in the dark if something goes wrong with the software.

On the other hand, licensed proposal management software comes with a range of features that helps in producing excellent proposals. These functions include the ability to automatically track the proposal’s development, generate proposals using proposal templates that you can save in a content library, and other useful ones.

5. Not taking advantage of free trials

When you’re in the market for proposal software, there are a lot of options out there. And with so many options, it can be hard to decide which one is right for you. But one thing you should always do is take advantage of free trials when they’re offered.

There’s no point in paying for something if you’re not going to use it, and with a free trial, you can really get a feel for how the software works and see if it’s something that would be beneficial for your business. Plus, it doesn’t cost you anything to try it out!

So if you’re considering purchasing proposal software, be sure to take advantage of any free trials that are offered. It could save you a lot of money in the long run.

Here are three reasons why you should always take advantage of free trials:

• It allows you to try before you buy. There’s nothing worse than paying for a piece of software only to find out that it doesn’t meet your needs. Free trials give you the opportunity to test out the software and make sure it’s a good fit for your business.
• It gives you a chance to see how easy the software is to use. Some proposal software can be very complex and difficult to use. If you’re not comfortable using the software, you’re not going to be able to get the most out of it.

Conclusion

In conclusion, avoid these five mistakes when buying proposal software: not doing your research, not taking advantage of free trials, ignoring e-signature solutions, and opting for an open source. With the right proposal software, you can streamline your proposal process and win more business.