The game is changing. Proposal management is on the brink of a revolution—and generative AI technology is driving the transformation, changing how bid and proposal teams and sales organizations create content, build business processes, and manage resources to win new customers (and retain existing ones) and generate a consistent revenue stream.
Plus, RFPs are becoming more complex, more tailored, and reviewed by more decision makers on buying committees. In turn, RFP responses need to be compelling, customized, and timely in order to increase the odds of winning the business. Is your organization up to the task?
If it ain’t broke
Convincing the folks upstairs to embrace any new technology can be an uphill battle. Let’s face it, nobody likes change.
So if the proposal team or sales group has been creating RFP responses manually for years—even if that process entails spreadsheets and Word docs stuffed with copious amounts of data, endless hard-to-follow email threads, and long nights ensuring the proposal has accurate, branded content before it’s sent out—moving away from “how things have always been done” and transitioning to an automated response process may be an uncomfortable concept.
And the idea of adding generative AI proposal management software to the tech stack may feel like a step into the unknown. So how do you change minds and get the executive team on board with embracing generative AI RFP software?
Automation for the win
Given that the C-suite has its collective eye on the bottom line at all times, changing minds about any new application, resource, or technology is grounded in your ability to demonstrate that a sizeable and expedient ROI is on the horizon. Luckily, generative AI proposal management software sells itself!
Forward-thinking organizations are using the power of generative AI RFP software to increase the efficiency and productivity of the response process while ensuring personalized, accurate, and on-time RFx responses. Indeed, automating the response process with generative AI proposal management software provides immense value to the bid and proposal team in your organization, helping them:
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Speed up the research process before drafting content
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Boost efficiency and productivity of the content generation process
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Improve the accuracy of question-answering
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Eradicate writer’s block with unlimited inspiration
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Reduce burnout of the proposal team and other content creators
Getting your C-Suite onboard with generative AI proposal management software is easier than you think. What COO doesn’t want to gain operational efficiencies? Has a CMO ever said “no” to gaining valuable competitive data insights? Ever hear of a CEO who doesn’t like the idea of increased revenue and greater profits? Generative AI RFP software delivers.
5 reasons generative AI RFP software is a game changer for the bottom line
- Increased win rates with superior RFx submissions
Low-quality RFP responses and proposals result in lower win rates, create negative perceptions, and worst of all, can put the business at risk. Investing in generative AI proposal management software increases your chance of success by enabling you to create high-quality, personalized submissions in much less time and with less effort.
To help you create customized response documents that resonate with prospects to drive wins, generative AI proposal software can instantly analyze content from a variety of sources—the public domain, in-house content (e.g., past client proposals, marketing collateral), expert content housed in a separate database—and automatically create a draft document with pre-approved, branded content.
With a draft document already in hand, you can spend your valuable time where it has the most impact: personalizing the proposal or RFx response to best address the unique requirements of the client, increasing your chances of winning the business.
- Accelerated Deal Velocity + More Time Selling
Why waste time spinning your wheels to close a deal? Top organizations use generative AI proposal management technology to maximize their sales velocity and it pays off: sales teams are more efficient and spend less time on administrative tasks, allowing them to spend more time with clients and focus on revenue-generating activities.
In fact, using generative AI can help you draft content up to 50% faster, giving you more time to articulate business value and goals and personalize responses that speak directly to your prospect’s unique needs. Plus, with the speed and efficiency gains you realize when you automate the proposal process, your team will be able to respond to more RFPs and beat deadlines.
[QorusDocs] saves my team so much time when responding to bids because creating pursuits happen faster, the search retrieval process is accurate, customization happens automatically, and task management is no longer manual.
-- Manager, Bid Administration & Sales Support, IT Enterprise
- Competitive Advantages with Data Insights
Did you know generative AI proposal management software can deliver customer and prospect intelligence, including what’s read, clicked, and shared within your RFP responses and proposals? Your organization might be sitting on a wealth of knowledge without even knowing it!
Using the right tools, data insights (e.g., what content is shared, how often, in what sales situation, win rate) can be extracted and analyzed directly from RFP responses and proposals, resulting in better business decisions, more streamlined operations, and increased revenue.
- Improved Team Efficiency
With increased RFP complexity and more decision-makers weighing in, proposals and RFP responses now require more input from SMEs and stakeholders to successfully win over buying committees. To streamline this process, distributed teams need resources that facilitate collaboration and rapid content-sharing so that documents are matched with what matters most to the prospect or customer.
Generative AI RFP software, integrated with business systems across the organization, ensures simplified collaboration and secure sharing of proposals and RFP responses, regardless of location. Plus, a centralized hub of data offers quick access to the most up-to-date, engaging content that wins deals.
“We have calculated that we spend almost 30% less time creating and managing content. It also helped us increase pitch output by about 25%.”
-- Jennifer Manton, Managing Director, Chief Marketing/Business Development Officer, Kramer Levin
- Customer Loyalty and Expanded Profits
Consider the fact that acquiring a new customer can cost five times more than retaining an existing one. That’s a scary statistic for any CRO. To minimize churn and keep your customers loyal for the long term, you need to demonstrate that you’re fully in tune with their current challenges and state of affairs; renewals must be assembled with the latest customized content and detailed perspective.
With generative AI proposal software, you have instant access to details of what your customer uses currently and what worked in the original sale, enabling your team to deliver brand-consistent, tailored renewal pitches. Enjoy that winning advantage!
To glean additional tips for getting your C-suite onboard with adopting generative AI RFP software for your team, check out our handy guide. Plus, learn why the award-winning QorusDocs is the best choice for your generative AI proposal management needs!