A major clinical research organization (CRO) was concerned about the low win rate of its new business proposals, and the effect on reaching revenue and profit goals. They deployed Kineticos to assess the problem.
Kineticos formed an internal sales support team made up of both internal and external specialists from all stakeholder groups including Program Management, Project Monitoring, Data Management, Pricing and Biorepository. We worked with the team to examine important commercial processes, including the scientific review, quote and proposal generation, legal and contracts and operations. Our analysis uncovered three sources of ineffective proposals:
- Proposals were inaccurately presented and priced, as individual BD Directors did not have access to all the key, often evolving, information needed
- Proposals were incomplete due to BD Directors responding only to familiar areas, rather than all aspects of the RFP
- The BD Directors were spending a disproportionate amount of time on proposal generation
Led by Kineticos, the sales support team identified and implemented best practices [both internal and external] for all inputs into the RFP response process. They provided recommendations for new procedures, a staffing model and process flow. We implemented the remediation plan and monitored going forward.
The Kineticos-designed sales support team generates all proposals globally with accurate pricing, and that are fully responsive to all aspects of RFPs. Win rate and profitability of projects improved, as well as the time needed for BD Directors to increase sales. Specific outcomes of the improved commercial process included a 71% increase in proposal win rate, 2x increase in backlog, an improvement in book-to-bill ratio from less than 1 to 1.42 and a 112% increase in overall proposal volume.