eRFP

eRFP is a specialized Request for Proposal (RFP) management solution developed by InHub (now a Responsive company) specifically tailored for institutional investors, investment consultants, and research teams. The platform automates the traditionally manual and labor-intensive process of issuing, managing, and evaluating RFPs and Due Diligence Questionnaires (DDQs) within the financial services sector. By digitizing these workflows, eRFP enables fiduciaries to maintain high standards of procedural prudence, ensuring that the selection of investment advisors, recordkeepers, and other service providers is documented, objective, and audit-ready. The system operates as a cloud-based hub where users can construct customized questionnaires from extensive libraries of pre-built questions, distribute them to a screened network of candidates, and collect responses in a standardized format. A core value proposition is the 'apples-to-apples' side-by-side evaluation tool, which allows committees to score proposals, take collaborative notes, and generate comprehensive reports. This structured approach helps minimize the 'administrative headache' of spreadsheet management and email chains, allowing investment professionals to focus on qualitative analysis and strategic decision-making while automatically building a robust fiduciary audit file.

The primary competitive advantage of eRFP lies in its deep specialization in the fiduciary and institutional investment space, a niche often overlooked by generalist procurement tools. Unlike horizontal RFP software that focuses purely on workflow, eRFP incorporates 'procedural prudence' as a core feature. It automatically generates a 'Fiduciary Audit File' for every project, providing a timestamped, comprehensive trail of the entire decision-making process—a critical requirement for compliance with Department of Labor (DOL) standards and ERISA regulations. Another significant differentiator is the platform's 'apples-to-apples' side-by-side evaluation engine. While many tools simply store documents, eRFP parses responses into a comparative matrix that allows evaluators to score specific qualitative and quantitative answers directly against one another. This eliminates the need for manual data entry into master spreadsheets, reducing the risk of human error. Furthermore, as part of the Responsive (formerly RFPIO) family, eRFP benefits from some of the industry's most advanced AI capabilities. This includes AI-driven question recommendations and automated content tagging, which speeds up the questionnaire creation phase by leveraging historically successful templates. Finally, the platform offers a unique hybrid of SaaS technology and 'Concierge Services,' where InHub's in-house experts can assist in drafting custom questions and identifying candidate pools, providing a level of domain expertise that generalist software providers cannot match.