To ensure common terms and for expediency, capture management is the application of a proven, disciplined approach that doesn't rest until a particular bid is completely understood.
RFPs and other solicitations available to the public are naturally created by purchasers trying to paraphrase what a project entails. So, this shorthand or limitation is something we have to accept, right? Wrong. You can always push for more, nudge to acquire more information, and kindly request explanations.
This is what the RFP services space hasn't yet addressed (before TKS): the gaps, the hidden agendas, the silences, the obfuscations. Like snake charmers, we're effective at bringing this previously hidden or unwritten information to our clients.
Deep Detail Extraction
TKS uses a combination of procurement law, best practices, and proactive questioning to extract more than the best internal bid team.
These extra details include, but are not limited to:
- The estimated contract value as either a range or approximate amount
- Whether this procurement is a high or low priority for the purchaser
- The Notice of Award or NOA timeline
- If the purchaser will accept certain references
- If the purchaser will accept certain deviations to the scope of work
Lead Generation vs. Capture Management
By now, the differences between lead generation and capture management should be glaring! One is concerned with the quantity of leads (treating each lead as the same), while the other is focused on optimizing the bidding process (treating each purchaser as a unique entity). The capture process extends from pre-RFP to post-submission, sometimes lasting months for a single RFP. It truly is a programmatic take on a project or set of projects.
The tasks of the capture process include:
- Scout, qualify, and track RFPs and addenda as they're issued (every stage)
- Maintain the health (consistency, accuracy, etc.) of the opportunity pipeline
- Provide requirement maps and viability assessments
- Recommend go-forward plans, when and where applicable
- Provide useful insights during the proposal development stage
- Submit questions on behalf of the client and fill gaps in understanding
- Execute on post-submission strategies and submit FOIA/debrief requests
Capture Managers vs. RFP Analysts
Some important distinctions:
- Capture Managers are sold by other companies in order to raise bill rates and increase margins. We'll never add a Capture Manager to your pipeline. Rather, our whole team will review pipeline growth and ensure its health.
- Suggestions and insights should be provided at the bid level, which is where the RFP Analyst has the most command.
- RFP Analysts are agile, trained, and highly attuned to data as it grows/changes. They "own" each addition and recommendation made, and develop real connections with subscribed partners.
- On the other hand, Capture Managers are disconnected from the actual purchasing agency. They tend to use others for direct communication and unload work onto specialists that you (the client) never see.
- Instead, the RFP Analyst knows names, contact numbers, personality types, and preferences. They communicate this freely.
How Important is Data, Really?
Large corporates who frequently pursue government contracts have teams of capture specialists. Literal teams. They're usually underpaid and overworked, as well as poorly incentivized. The internal model is definitely broken (with massive inefficiencies), but it's better than starting at zero.
What we've found: it doesn't take much to bring your proposal efforts to the same level as these aforementioned larger teams with seemingly endless resources. If you streamline it, focus on capturing the right data, and act with persistence - anything is possible. Even beating out an older incumbent vendor.
With our keystone $299/week solution, we have seen the benefits of 40+ data points per bid firsthand. This is usually 36 more data points than your competition has.
Below, with a traditional database, you're only seeing the RFP title, whether the bid is state versus federal, the origination state, and the issued date. A bid decision is simply impossible to make.
Compare that with a high-level view of a single opportunity with customized columns:
Clicking on the opportunity, you'll find a requirements map that may look like this:
This advantage we provide goes towards making your pricing better, the team organization more tailored, and the solution more appealing. Clients are also able to price their solutions higher given their bolstered confidence in what the project entails.
Capture management is a winning mindset as much as a process. Activate your 7-day trial to reap the benefits within 24 hours.
Or send a question to firstname.lastname@example.org.