Building an Integrated Global RFP Support Team for a Europe-based Asset Manager

  • 40%

    RFP win rate vs. 27% earlier

  • 92%

    delivered ‘completely accurate’ first draft RFPs

  • ~96%

    maintained response acceptance rate

  • 40%

    reduction in RFP submission time


CLIENT CHALLENGES
  • The business development team of a top-20 global asset manager was looking to streamline its sales enablement process that primarily included the way the firm would respond to RFPs, RFIs, DDQs, and Consultant Database workbooks. Besides tackling the challenge of large volumes, the firm was also looking for an experienced partner for guidance on industry-wide best practices. Some other challenges that the firm faced were:
    • Inconsistent RFP responses as the RFP process was separately managed by different internal business units and managers.
    • Lack of bandwidth to absorb cyclical volumes and increased demand from sales for customised proposals and mandates.
    • Lack of a sophisticated centralized database, issues with data quality, and coordination challenges with multiple teams, which together compromised quality of responses and resulted in delayed submission
OUR APPROACH
  • Conducted whiteboarding sessions to better understand the client’s products, services, unique selling points, and brand proposition
  • Set up an optimal team with the right mix of asset management domain, project management, and relevant expertise to improve process efficiency
  • Identified and nurtured talent to build a team of inhouse strategy-specific RFP specialists
  • Assisted the client in migrating to and maintaining a centralized RFP database
  • Assisted the client in setting up a centralized RFP team to support business units in the US, EMEA, and APAC. This helped to maintain consistent RFP responses across regions
IMPACT DELIVERED
  • Engaged RFP SMEs at MAKS to train the team and implement best practices
  • Took over end-to-end maintenance of RFP database and ensured its effective use, resulting in improved turnaround times and uniform responses
  • Brought in our expertise in project management - acted as a single touch point in the RFP life cycle; coordinated with business partners, sales, client service and product specialists, and other stakeholders for required information. This substantially reduced RFP submission time
  • Set up a strong governance framework to provide transparency and strategic guidance to the engagement
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What we have done

Fund Marketing Services for a Europe-based Asset Manager
What we are proud of

>50%

savings in staffing costs

25%

increase in outreach