Do you have double the work to do/potentially double the work to do?
In these trying times, there is probably not double the work to do. Companies are buying less. Governments are buying more, but only of specific things. Customers are being stingy.
Doubling your productivity would just mean that they could do with half the employees in your department. When companies are trying to cut costs, departments with the capacity for double productivity are good places to start.
A good friend of mine was an operations guy at a company that was going through cost-cutting. His major role was generating a report from this database. He knew SQL, so within the first week managed to automate the report. All they did with his innovation was to cancel the other internship position they were going to fill. He got nothing but being given the other intern's spot. Had he automated that, then who knows what would have happened to him?
Now, reusing RFP answers is a very standard practice. My Dad used to write them all the time and the companies he worked for had plug and fill in databases of answers. Employees like tools that save them time, which is what makes me suspect that they could have motives other than the ones they have stated. Are they as concerned about hacking for their other documents?
Now, I do concede that this is a cynical perspective. It obviously depends on your company, but carefully consider whether you want to bring this forward at all. Determine the implications of this for your own future. It could be an opportunity, but it could also be your/your co-workers' ticket(s) out the door. A lot of organizations would thank you and say "well, don't need you anymore."
If you really want this to go ahead anyway, you would need to convince your co-workers that there is double the work to be done rather than the work just requiring half the people.