PlanPILOT Adopts InHub's RFP Technology
CHICAGO, IL, November 9, 2016 -- PlanPILOT, a nationally recognized retirement consulting firm based in Chicago, announced a new corporate license to InHub, creator of eRFP – the first web-based technology to digitize the request for proposal (RFP) process for the institutional consulting community. The enterprise license will allow the firm to digitize the important fiduciary process of conducting formal market searches while still providing a customized and high touch feel for clients.
InHub's (www.theinhub.com) eRFP solution will allow PlanPILOT to create and issue a customized RFP questionnaire to candidates, invite clients to participate online, evaluate proposals side-by-side, take notes online and streamline Q&A, all while increasing documentation and transparency. New features for eRFP users are also expected to be released in early 2017.
"Basically, eRFP simplifies a grueling and time consuming, but necessary, fiduciary process. RFPs are on the rise," according to Linda Coffey, Senior Consultant at PlanPILOT. "The best way for a plan fiduciary to manage risk, especially in this highly litigious environment, is to have a prudent and formal evaluation process in place. Previously, we were conducting RFPs the standard industry way, manually, via Word and/or Excel. After going back and forth with vendors, we would then capture and summarize all the information in a professional looking document for our clients. It was extremely inefficient and vulnerable to miscommunication."
PlanPILOT advises to over $3 billion in retainer Retirement Plan assets and intends to use the InHub eRFP tool for all three lines of RFP business:
"We are proud to offer a modern and elegant RFP technology to help streamline this practice. Firms like PlanPILOT are leading the pack from an innovation and fiduciary responsibility standpoint, and we are so pleased they selected our solution," said Ariana Amplo, CEO of InHub.
The new technology access will allow PlanPILOT to perform more RFPs and reduce the time commitment for all involved, including candidates. More information on the services provided by PlanPILOT visit www.planpilot.com or email firstname.lastname@example.org.
PlanPILOT is structured on the foundation of serving retirement plan sponsors and plan fiduciaries. Our only line of business is providing retirement plan consulting services to our institutional clients and their plan participants. With the increasingly challenging environment facing retirement plan fiduciaries, we believe that the most effective and optimal method of helping our clients is through specialization of services, and undivided loyalty to plan sponsors and fiduciaries. We believe that plan sponsors who work with senior consultants who are solely committed to the niche of employee benefit programs benefit from a higher level of service and quality of deliverables.
eRFP, the technology behind Chicago-based InHub, is evolving the way the institutional community hires by bringing the request for proposal (RFP) and due diligence questionnaire (DDQ) process online. eRFP offers users an elegant solution to issue and collect proposals and data with ease. Since InHub's beta launch in April 2014, over $60 billion worth of institutional searches have been issued including: investment consultant, OCIO, auditor, recordkeeper, and more. Visit http://theinhub.com/partners/eRFP/ for more information. InHub also offers additional RFP Concierge services to institutional investors running an investment consultant RFP.
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