Loopio Alternative: 8 Key Areas of Comparison with Vendorful

Loopio - Vendorful Comparison

What is Loopio?

Loopio, a recognized market leader in the RFP response and proposal management software sector, was founded in 2014 in Ontario, Canada and has raised $263M (CAD). The product was developed specifically to address the frustrations that come with responding to RFPs.

Loopio Content Library

Loopio's content library serves as a central repository for storing previous responses and company knowledge. This feature aids in structuring and managing data, providing a resource for future proposal responses. However, the effectiveness of this function heavily depends on the quality and detail of the stored content, making ongoing library maintenance and updates essential for its utility.

Loopio Auto-Suggested Answers

A notable feature of Loopio is its auto-suggest function that pulls from the content library to propose responses to new queries. This has the potential to save significant time and foster consistency across responses. However, the approach taken to identify potential answers is rooted in text-based search, with a particular focus on keyword matching. As a consequence, there can be a high-rate of false positives even searching through a robust and well-curated content library. From there, it is easy to import the previous answer, but as there is no semantic matching, users share that answers must typically be edited heavily or completely rewritten.

Loopio AI Auto-Generated Answers

Loopio does not currently provide a feature that auto-creates new answers with AI, though a May 2023 blog post suggests that they are working on this functionality.

Loopio Fully Automated Response Drafting

When it comes to fully automated response drafting, Loopio offers a practical solution. By leveraging the content library and past responses, Loopio can create a complete response with minimal user input, provided the questionnaire lines up very closely with past questions in the content library. And of course the quality and relevance of stored content can significantly influence the effectiveness of the drafted response. However, this functionality comes at a price: human capital. In fact, an analysis from Forrester estimated the cost of maintaining Loopio's content library at roughly 2.3x Loopio's actual fees over a 3 year period ($794,300 internal costs vs. $346,700 paid to Loopio).

Loopio In-App Collaboration

Loopio’s in-app collaboration feature is designed to enhance team communication and collaboration, keeping all discussions and inputs within the same platform. The functionality is reasonably robust, though certain competitors offer more sophisticated collaboration tools that integrate project management capabilities, potentially offering more comprehensive team management solutions.

Loopio Pricing

Loopio no longer publishes pricing. In its 2023 study, Forester assumed an annual Loopio price range of $54,000 to $142,000, plus professional service fees of $20,300 to $29,200 per year. Anecdotal data suggests that is in the same price range as Responsive (formerly RFPIO).

Loopio Free Trial

Loopio does not offer a free trial.

Loopio Summary

Loopio is one of the most established players in the RFP response space with roughly a decade of experience in the market, catering primarily to large businesses, who have the money and personnel to invest not just in the the solution, but to maintain the content library. It offers several commendable features aimed at streamlining the RFP response process. Key among them are:

• Easy to use and intuitive interface: Loopio has a user-friendly interface that makes it easy to learn and use. Even users with no experience with RFP management can quickly get up and running.
• Comprehensive RFP response capabilities: Loopio provides a comprehensive set of tools for creating and managing RFP responses. Users can easily create and manage content, track RFP progress, and collaborate with team members.
• Good collaboration features: While not consider best in class, Loopio's collaboration features make it easy for team members to work together on RFP responses. Users can assign tasks, share files, and track progress in real time.
• Effective content management tools: Loopio's content management tools simplify the process of creating, storing, and reusing RFP content. Users can create libraries of reusable content, such as company descriptions, product specifications, and customer testimonials.
• Integrates with a variety of CRM and marketing automation platforms: Loopio integrates with a variety of CRM and marketing automation platforms, making it easy to keep data in sync and automate tasks.

Prospective users should evaluate these strengths in light of their unique business needs, and how they measure against Loopio's potential drawbacks to make an informed decision.

Though is a relatively new player Request for Proposal (RFP) response and proposal management software space, Vendorful has developed deep understanding of the RFP process as it has been providing software to help enterprises run RFPs since 2018. The Vendorful AI Assistant brings a fresh and disruptive approach to the table, merging best-in-class AI with affordable and transparent pricing to make responding to RFPs, DDQs, Security Questionnaires, etc. simple and ridiculously fast for organizations of any size.

Vendorful AI Content Library

Vendorful AI provides a content library that supports content of any type:

• Prior responses to RFPs, RFIs, DDQs, etc.
• Website content
• Support documentation
• Sales & marketing collateral
• InfoSec data
• White papers

Managing one's content is simple and intuitive and the library does not require a dedicated team to maintain.

Vendorful Auto-Suggested Answers

For situations where precise wording matters, the Vendorful AI RFP Assistant automatically suggests the most likely answers for any question, and will warn you if it thinks none of them are good matches. If you have no interest in synthesizing data into new answers for new questions, then this could be all you need. But let's get to where the magic happens....

Vendorful AI Auto-Generated Answers

In our view, the biggest value you will get from using the Vendorful AI RFP Assistant will come from its ability to combine multiple data sources from your content library into cohesive answers to previously unseen questions. And the more you use it, the better it gets.

The power of generative AI is where you will see the biggest time savings on RFP responses. Because the RFP Assistant is never overworked or distracted or juggling competing responsibilities, users report time savings of 90% while also producing subjectively better responses. Plus, you can see the specific source materials that the AI used to draft a new response. And you can easily edit, or even completely override, the generated answer.

Vendorful AI Fully Automated Response Drafting

The RFP Assistant makes it dead simple to automate RFP response drafts. It even offers a "zero click" option — just upload the RFP questions and it automatically starts filling them in! If you just want help with writer's block on a couple of answers, you can go question-by-question instead. Or you can do something in between. You have full control over the process.

Vendorful AI In-App Collaboration

Invite additional team members with a single click. All team members have access to your in-progress responses and can seamlessly work alongside you - presales, sales, SMEs, executives, legal, etc. 

Vendorful AI Pricing

The Vendorful AI RFP Assistant has pricing that scales from small companies to large enterprises. You can learn more about Vendorful's packages and pricing.

Vendorful AI Free Trial

Of course! Why are you wasting time reading this? Go ahead and create your Vendorful account.

Vendorful AI Summary

After years of providing a world-class RFP issuance platform to buyers, Vendorful is bringing its expertise to the other side of the table and showing vendors some love. Vendorful AI incorporates the latest advances in artificial intelligence into its very foundation, with a mission of providing outrageous value to companies and teams of any size. As a younger product, it doesn't yet have all of the integrations that Loopio does, but since it takes a fundamentally different, i.e., AI-first, approach to solving the RFP response problem, it shines in different ways. 

• The fastest response tool in the market: A Loopio customer can export its content into CSV, load it into Vendorful, and start responding to RFPs with the AI Assistant in mere minutes. 
• Easy content management: Users can easily add/remove/redact content from their library without requiring dedicated resources.
• Value outside of RFP responses: Loopio and Vendorful both support other types of questionnaires like DDQs and Security Questionnaires. Vendorful's AI Assistant can also answer general sales inquiries like questions from a prospect and is seamlessly integrated into Slack and MS Teams.
• Simple interface: As an AI-first product, Vendorful did not have to build support for a number of human-driven processes, dramatically reducing the complexity of the product and its user interface.
• Plans for everyone: Even small businesses have to juggle RFPs, Security Questionnaires, and the like. Vendorful's pricing means that companies of any size can enjoy the power of a response platform.

Want the unvarnished truth about the differences between Vendorful and how it stacks up as a Loopio competitor or RFPIO alternative? Check out our No B.S. Marketing page. You can also see Vendorful in action.