Used by 15-plus Fortune 100 clients, Coimbatore-based SaaS firm’s Tender (RFP) Automation solution streamlined technology giant’s Proposal Response process by leveraging Analytics, AI, and Knowledge Management. Mr. Ganesh Shankar, CEO and Co-founder, RFPIO shares more insights on the same.
- What is the current tender automation processing scenario in organizations globally?
Organizations with global presence have started acknowledging the need for automation in the tender processing space.Research suggests that 80 per cent of sales efforts amount to only 20 per cent of revenue.
RFPIO began its journey with the intention of providing a simple, trustworthy solution that will provide companies with a defining, competitive edge in the market. Today, RFPIO is trusted by some of the world’s smartest companies. We have redefined the way B2B companies buy and sell through cutting-edge technologies.
- What are the challenges faced by the organizations during the tender management process?
Inefficiencies that are rooted in decentralized, inaccessible content and knowledge shall be eliminated by embracing automation, with elimination of redundancies the proposal and the vendor management teams can focus on core business objectives rather than battling with limitations associated with the manual processes.
Our use-case studies have shown that clients’ sales teams have witnessed a 35 per cent increase in time-optimisation. Our solutions help enterprises embrace efficient collaboration, modern automation, thus unlocking the true revenue potential of the correct tender management practices.
- What is the impact of advanced AI, Analytics, and Knowledge Management on revamping the tender automation process altogether?
Our SaaS automation solutions are a blend of cutting-edge AI, Analytics, and Knowledge Management. With state-of-the-art functionalities at their core, our solutions enable us to reduce responding time to RFPs by up to 40% (on average) after implementing RFP automation technology like RFPIO.
Consolidating company knowledge helps in streamlining responses to RFPs, RFIs, Security Questionnaires, DDQs—especially when you consolidate knowledge in an AI-enabled RFP automation solution it can prove to be a major competitive advantage and differentiator for your teams.
Salespeople can spend more time on revenue-generating operations. The proposal team can spend more time on creating high-quality responses. Subject matter experts can focus their efforts on their primary job functions and other equally important operational activities all by embracing AI and automation.
- Tell us about Indian participation in advancing the tender automation process worldwide.
A significant percentage of the world’s tender processing personnel are based in India. RFPIO is working to create awareness in the Indian user base on how new technologies like automation can deliver immense benefits if adopted rightly.
Recognising India’s untapped potential as a Tender Response market, we have plans in place to increase our team to 500-plus employees in the coming years.