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Capture management is one of the most critical steps in securing new business. It involves understanding your best approach to winning a business pursuit. A capture manager is concerned with the intimate details involved in creating winning partnerships, leveraging the best proposal management software with capture management solutions, and mapping capabilities with requirements. This article will help you understand capture management and why it is important.
According to Shipley, capture management is akin to opportunity management and requires a disciplined approach to qualifying business opportunities and developing a win strategy to improve your probability of winning a strategic opportunity.
Capture management is all about qualification.
The full business development lifecycle takes quite a bit of time, strategy, and resources prior to signing on the dotted line of a new contract. Thus, qualification and using proposal management software ensures that you are not wasting time on the wrong opportunities. Before and after capture management, there are other critical steps.
First, there’s relationship building with the would-be client, then capture strategy, developing the proposal comes next, and then if all goes well a new business deal is on the table. Each step matters and strengthens the outcome of the next one; thus, an RFP software or proposal management tool will reinforce your capture management strategy.
As it relates to capture management, it is critical for a very simple reason. It makes no sense to go after a deal that you do not completely understand or are not qualified to pursue. Why? Well, the would-be client is not going to pick just anyone to manage its million-dollar deals. It will choose the prospect that has invested visible time understanding them and who can truly provide the required solutions.
Capture management professionals are concerned with understanding the facts and figures of a potential business relationship so that it is clearly understood as a good opportunity to pursue.
Capture management helps the pursuing organization determine:
Good capture strategy will analyze information and score an opportunity within a range of less than 75% to more than 90% – the former indicating a weak win probability and the latter demonstrating a strong win probability for the opportunity.
Zbizlink’s capture management solution guides you step-by-step through the identification of targeted market segments to collecting customer intel, and all the way to the Go/No-Go decision. At every stage of capture management, you add value with more detail and better strategy.