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When to Say Yes or No to an RFP

So an RFP (request for proposal) magically appears in your inbox. Our first reaction is usually “BINGO!”, we have a lead who has (some) budget and has most likely made the decision to purchase a product for their needs. As a company who prides its self on delivering a tool that makes the proposal writing and response process easier and more efficient, we will admit that we do have a bit of an edge over a traditional company who is not purposefully set up to respond to proposals. Although with that being said, there are times when we will read through a proposal and kindly reply with a politely worded “No thank you.” So what is the cut-off line between saying YES and dedicating time and resources, AKA money, and saying NO and moving onto the next?