Automation and Proposals: 10 RFP Tasks To Automate

When you hear the word “automation,” you may think of factory workers being replaced by robots, or reports that AI might someday take over the world. But at The Bid Lab, automation means something different. It means less work for you and an increased chance of winning your bids. And it’s all done by humans…

Consider This Your RFP Industry Glossary

Introducing The Bid Lab’s RFP Industry Glossary Whether you’re new or experienced at creating Requests for Proposals (RFP), the industry terms used during the bidding process can be overwhelming. All industries have their own unique vernacular. Often, the language an issuer uses in an RFP can be determined by industry expectations and personal preferences alike. The…

What Is an Invitation to Bid?

Have you ever been excited to receive an invitation to a much-anticipated party? Well, in our own industry, we have a different type of invitation that excites us — an ITB! To give you a little context, an Invitation to Bid (ITB) or Invitation for Bid (IFB) is a call for contractors to submit a…

RFP Tips & Tricks for Your Next Response

Whether it’s your first time developing an RFP or your 50th, the potential for building a new client relationship is always exciting. RFPs are an excellent opportunity for expansion and growth by opening up new doors for your organization. You may be strengthening your ties with an existing client or hoping to capture the attention of…

What Is the Request for Proposal Process?

Perhaps you’ve heard the term in passing. Or, maybe you’ve read the acronym “RFP” and wondered what it meant (psst– it means “Request for Proposal”). But whether you work for a large corporation or your own small business, knowing how to market goods and services is vital. So, learning the ins and outs of the…

RFP Evaluation Time? Here’s How to Pick the Right Vendor

Finding the right vendor is never easy. When your business issues a Request for Proposals (RFP), it is forming the foundation for a relationship that may last years. It’s critical to get this decision right, so having a proper RFP evaluation process is key.  At The Bid Lab, we help clients on both sides of…

IFBs and RFPs Explained

With so many initialisms in the bidding process, it can be difficult to differentiate exactly the purpose of each proposal type. There are RFPs, IFBs, RFQs, RFIs and myriad other varieties of requests and invitations (here’s a glossary). Each path offers its own benefits and compliance issues, as well as drawbacks, depending on your organization’s…

Here’s What to Include in an RFP Cover Letter

You never get a second chance to make a first impression. The same is true when responding to Request for Proposal (RFP) opportunities. A successful RFP response establishes its tone immediately through a well-thought-out cover letter. RFP cover letters include an overview detailing why your organization is best suited to meet the issuer’s needs.   An…

New York RFPs: Finding RFPs and Bidding in New York

Anything can happen in a New York minute, including finding the perfect New York RFP opportunity to help your business reach new heights. Whether your organization is New York-based or simply determined to penetrate the world’s 12th largest economy, winning a bid proposal in New York is no easy feat. The competition in the City…