In our AI for Response Management blog series, we’ve been taking a look at how generative AI and ChatGPT tools and technologies are impacting content creation, proposal management, and the sales response process across multiple industries and professional disciplines, from accounting and legal to manufacturing and recruitment.
This third installment of the series focuses on professional services organizations and how generative AI and ChatGPT tools can accelerate and streamline the pursuit process—a crucial differentiator for firms facing intensifying competition and an uncertain economic climate.
We’re exploring how professional services firms can harness the transformative potential of generative AI to secure new business and increase work from existing clients by amplifying the volume of optimized, accurate, and on-brand proposals, pitches, and RFP responses.
Helping professional services firms create winning pitches
With its ability to analyze and generate content, generative AI is revolutionizing the pursuit process, transforming how professional services firms approach pitch and proposal development. ChatGPT tools streamline the labor-intensive process of content creation, finding the most relevant information and then tailoring it to align with a firm's strategic objectives. Generative AI also tackles the critical issue of data accuracy—a costly and sensitive challenge many professional services firms face—by ensuring that pitch assets (e.g., biographies, experience records, credentials) remain up to date.
Consider a law firm, for instance. The legal pitch process typically focuses heavily on biographies, CVs, and experience records and credentials based on previous legal work. Without ChatGPT in its toolbox, your business development or pitch team will waste valuable time identifying and locating the best bios and the most relevant experience records etc. and then pulling that content into the pitch document.
Generative AI alleviates this challenge, eliminating the time-consuming manual workflow by analyzing the data you have and identifying the best information to create a winning pitch, based on the strategy that you've determined.
Secondly, generative AI writes or updates the asset (e.g., a partner’s biography), capturing, assimilating and tailoring the data to create winning content aligned with the deal strategy, while maintaining the formats and relevant layouts of the pitch document.
Did you know that some recent ChatGPT tools have the ability to generate images? Never put out a dull pitch again. While incorporating the right data and content is critical for the success of the pitch, adding graphics can enhance the message and improve client engagement.
Generative AI generates images by learning patterns and structures from existing images and then using that knowledge to create new ones. Some image generative AI models enable text-to-image synthesis, converting textual descriptions into corresponding visual representations.
Employing images generated by ChatGPT technology can take your pitch to the next level, helping you tell a story that aligns with your pitch theme; the images are tailored to your unique client pitch to create an impactful and personalized client experience.
Simplifying the pitch process
Nobody wants to get bogged down in pitch creation. Generative AI technology does all the heavy lifting, empowering fee earners at professional services firms to issue natural language instructions for pitch creation and simplify the often complex and time-consuming task of building a pitch from scratch.
For example, a lawyer looking to generate a pitch themselves will be able to instruct ChatGPT—in the same way they would ask an assistant or paralegal—to create a pitch that includes biographies pertaining to deals in a particular practice area at a specific dollar value. Generative AI will research, analyze, and write the pitch, simply through the process of issuing an instruction.
With generative AI and ChatGPT tools and technologies at their disposal, professional services firms can boost efficiency, improve pitch quality, and work smarter to achieve better outcomes—ultimately enhancing their competitiveness in the market to drive profitability and sustainability.
To discover how generative AI can help your proposal team generate content faster and with less stress, watch the complete “AI for Response Management” video series. Ray Meiring, QorusDocs CEO and co-founder, shares his thoughts on generative AI and its impact on how organizations secure new client business. In Part 1 and Part 2 of the video series, Ray explains the benefits of generative AI for content creators and how tools like ChatGPT can help proposal teams accelerate and optimize the response process.