Proposal software

Efficiency and the Bottom Line with Qvidian's Proposal Software

In today’s competitive landscape, every business must strive to continually improve their efficiency, agility and security measures as part of their strategy for growth. Automation technology can make this easier. Fifth Third Bank discovered this when they embraced Qvidian’s propsoal software solutions to add efficiency to their proactive proposals, RFP responses, and product documentation.

Proposals, sales content and moreBUSINESS DRIVER

Fifth Third Bank, the largest bank in the Ohio Valley, named by Fortune Magazine as the Number 1 super-regional bank for three years running, invested in Qvidian as part of their strategy for continued growth and improved efficiencies at the bank. Until then, they had been using a manual method for the construction of their responses to RFPs (requests for proposals) and proactive proposals. Proposals were written and disseminated by each sales person using a variety of information sources, creating their own processes for the creation of documents, but best practices weren’t being shared. The valuable content one group was creating wasn’t being distributed for reuse, or if it was, it wasn’t happening quickly enough. Qvidian helped Fifth Third streamline this management of content and automate the creation of their prospecting presentations. Updating and maintaining product documentation was challenging. The bank lacked a central repository and any way of tracking product updates. Security and compliance remained an issue because without a tracking system, and without security controls tied to a central repository, there was no way of tracing who had touched what information when. The bank began to explore the efficiency, ease and advances technology might bring. Qvidian represented the opportunity for proposal and content automation along with a central repository, security controls and tracking analytics.

APPROACH

Fifth Third Bank brought in Qvidian's proposal software, modestly at first with only 3 licenses for proposal writers, but once they saw the power of the technology, the number of users quickly grew to more than 200. Qvidian became a mainstay in the bank’s Sales Resource Center as well as in Product Documentation. Fifth Third is maximizing their use of the software by training their users to three different proficiency levels:

  • Level 1 — Proposal Automation

  • Customized — Slide Finder &Content Library

  • RFP Builder — Collaboration/Power User

This enables individuals to use the Qvidian's proposal  software to the level of their needs which naturally increases adoption.

 

IMPACT

“The Proposal Automation has enabled our sales force to create their sales documents much more quickly. We have also found a lot of value in the content library, which has streamlined our management of the content,“ commented Barry Longhauser, Sales Resource Center Manager for Fifth Third Bank. Barry manages a team of content managers and proposal writers whose focus is creating custom sales documents as well as managing their standard content. “We use it for the repository, content management and proposal automation. Having a one-stop shop for content, that’s something that has been key to adoption by our sales teams. This past year we further customized their engagement with the content library, using the ability to create custom roles so that sales person A only sees what is relevant to them versus what they saw in the past which was relevant to sales perons B, C and so on. We’ve seen over 50% more searches completed in the past 6 month, in part, we believe, because they are getting better search results and finding what they need more quickly,” Barry remarked.

Amanda Peck, Knowledge Manager at Fifth Third Bank uses Qvidian every day for product documentation. “Preparing all of our content for the content library was quite a process,” Amanda remarked, “but Qvidian was a great help. Maintaining our content is easy now, and I couldn’t imagine doing my job without Qvidian. I’m able to engage our product team through Qvidian for implementation guides, quick reference guides, customer service documentation and more. We store all our product drafts inside Qvidian. We’re able to create version control with Qvidian and use Qvidian for a process and documentation repository for final copies and source documents.”

There are added benefits Qvidian has built in behind-the-scenes that are extremely helpful to Amanda and other Qvidian users at the bank. Meta data is one. “Meta data is extremely helpful for our internal audience because it develops trust by letting our colleagues know that the documents are upto-date, that they are using the right version, when the information was last reviewed and approved and when it will be redone,” Amanda stated.

Security and compliance requirements are critical items for a bank. Qvidian makes it possible to track all activity around the documents as well, and to secure them with user names and passwords. The tracking provided by Qvidian makes audits smooth and stress-free. Reports can be printed that show all activity around the documents by individual and date. That is a great relief for any company in a regulated industry. “Before Qvidian, audits could be cumbersome. Trying to locate the most recent versions of documents in different locations proved a difficult task. Now, we have a centralized source and can be certain we have a complete and accurate record of all documentation. Colleagues have confidence in our material and can move forward with their responsibilities knowing they are on solid footing,” she concluded.

Efficiency improvements impact the bottom line and now they come with:

  • Ease of use

  • Accessibility

  • Security

What could be better?
 

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