Lately, there has been a great deal of discussion about Artificial Intelligence (AI) and the RFP process. AI RFP tools range from automated response software to visual design programs, and offer multiple benefits to the RFP process, including increased efficiency, collaboration capabilities, content management, and more. We’re all familiar with the old adage that “time is money,” and by appropriately combining AI RFP tools and proposal experts, you can save on both. Let’s take a look at some of some frequently asked questions about AI and the RFP process and help take some of the mystery out of AI and RFPs.
What is artificial intelligence?
Artificial intelligence (AI) is a branch of computer science that simulates human intelligence and behaviors in computer systems.
What does RFP AI actually do?
AI RFP solutions can help businesses in each step of the RFP process, from evaluating opportunities to tracking progress after submission. AI RFP solutions can also integrate with word processing software, auto populate information, create and manage responsive design templates, manage content libraries, track proposal submissions, and more.
How is AI changing the proposal process?
Proposal AI is driving digital transformation. To maximize the benefits of AI in the proposal process, all of your systems must integrate with each other to add value across touchpoints. Proposal management AI is also causing more businesses to build out enterprise-level database requirements for content. AI is most powerful with a robust database. If your content library is not organized and reliable, you will not realize the full benefits of AI. An organized content library is critical to your organization's digital transformation.
How does proposal AI benefit organizations?
AI proposal management software allows teams to efficiently review and qualify opportunities. Analyzing opportunities without AI can be very time consuming. AI systems help you understand if you should bid by analyzing and reviewing previous projects. AI systems also provide teams with an insight into the resources required and the potential to win the opportunity.
AI also makes it easier for teams to “shred” each RFP opportunity and makes it easier to break up relevant sections, automatically identify content, and assign questions to subject matter experts.
What automation capabilities are part of proposal AI?
Proposal management AI will efficiently and effectively perform repetitive and mundane tasks that take up a great deal of time in the proposal process, including:
Providing bid/no-bid recommendations based on analytics
Analyzing win-loss opportunitiesAnswering common, repetitive questions
Creating boilerplate copy
Exporting document formatting
Tracking proposal progress and success
How can our business get maximum benefit from proposal management AI?
The first step is to make sure your organization is ready for the digital transformation. It is essential that your systems can integrate with each other and proposal teams can collaborate efficiently within your organization’s systems. You can help fast-track your organization to realizing the potential of proposal management AI by creating and robust content library.
Will AI proposal software replace proposal writers?
No. Proposal management AI allows proposal managers and writers to utilize their time more efficiently and provide additional value to the teams they support.
Regardless of where your company is in the RFP process, Bidify is here to help. Our experts and technology allow our clients to enjoy a more efficient and effective RFP process from sourcing to submission. Contact us to see how Bidify can elevate your proposal process.