Gone are the days when companies relied on a tool simply for invoicing. Your budget and time are precious, and your tools should reflect that.
In the government sector alone, the Federal government spent $665 billion in 2020 on various contracts. There is money available in bids across all industries, and having a business operations software is necessary for VARs to be able to support themselves from quote to reporting. To help your business select software that efficiently supports your VAR business, here are five tips for you to consider.
Building the Quote
While there’s a lot of money in contracting, competition is fierce. Therefore, it’s crucial to have all information in addition to having supporting documentation and quote information precisely right, or you could lose out on the bid. Missing information in an RFP can cost you the contract you’re bidding on or make an uphill battle to satisfy the client’s expectations.
Features like single-entry can most effectively manage complex projects and track deliverables to create winning RFPs from the start. In addition, monitoring and maintaining complex projects in one platform cuts down on human error and missing information.
Additionally, business operations software with built-in CRM features can help manage contacts that may lead to future opportunities. Housing all necessary information to support current and future quotes and RFPs makes it easier for your team to nail this operations stage successfully.
Securing the Bid
Your business operations should have the functionality to organize and manage all supporting documentation needed to secure a bid after the RFP is accepted.
While some industries have a specific starting point, like acquiring a GSA schedule in the government sector, most simply start by securing a bid. There are several layers to successfully executing a bid, and your operations software should help you organize your resources and report every step of the way.
In the event of a formal protest, you should be able to turn to your operations software as an organized source of documentation to help your business prove competency and silence size or status protests.
Support the Contract
Modern business operations software should have features that support your needs as you fulfill even the most stringent requirements of complex contracts.
This includes the ability to create customized products like storefronts and catalogs. Additionally, your business operations software should support advanced security features to satisfy even the most rigorous reporting and operational needs. Finally, business operations software should also feature robust, US-based support options because when your team needs assistance, it can’t wait.
Additionally, integrations make it easy to streamline your existing platforms to support fulfilling a contract effectively. A modern business operations software should interface easily with major platforms like Quickbooks, Salesforce, Avalara, and ServiceNow.
Scalability is also crucial for supporting your business during periods of rapid growth. Your business operations software should be able to scale quickly with you to meet your needs. This could include offering custom solutions that you need to complete projects or features created for your team to use and get a more profound ROI from your business operations software.
As a VAR, you know it’s imperative to keep track of data needed for reporting throughout the contract fulfillment process. Single point of entry systems can help cut down data entry and streamline reporting when it’s time to do so. Keep your reporting as seamless as possible when you work with one point of entry so that your team will spend less time reporting and more time working on core business.
Invoicing the Client
Your business operations software should be able to create customized invoices and reports for your clients at a bare minimum. In addition, these reports should be easy to understand and include information from the entire lifecycle of contract fulfillment.
Likewise, your software should also be able to create automated reporting that can help keep track of payment requests, outstanding balances, and general accounting information. These reports should be easily accessible for your team and any organization members that you report to so that everyone is on the same page.
Reporting the Data
A robust business operations software will make reporting a breeze as it can capture reporting data during the duration of even the most complex contracts.
Reporting should be as simple as running quick commands in your business operations software. It should be simple for those solutions that are one point of entry. All the data and reporting are already at your fingertips, ready to quickly package and share with the client.
Work With VARCommerce
VARCommerce offers business operations software that goes well beyond invoicing. Our solution supports VARs through the entire process of successful contracts and can be customized for any business needs. We created a solution for VARs who need support in winning more contracts through the process of successfully completing current contracts.