Research Sponsored by Responsive and APMP® Reveals That Organizations Embracing Strategic Response Management Are Driving Outsized Results
31 Julio 2024 - 5:00AM
Business Wire
Leading Companies with Higher Revenue Growth
are 3X More Likely to Use AI-Powered Strategic Response Management
Platforms than Novices
Responsive, the leader in Strategic Response Management (SRM),
in partnership with the Association of Proposal Management
Professionals (APMP), today released new research highlighting the
significant contribution that bid and proposal teams make to
topline revenue. The “2024 State of Strategic Response Management
Report” reveals that more than 90% of survey respondents recognize
proposal teams as central to revenue generation. Additionally, 77%
noted an increase in the volume of RFPs and other strategic
responses over the past year. Nearly half of the respondents
identified tighter buyer budgets, demands for more information to
be delivered faster, and increased competitive pressure as key
challenges.
The growing pressure to generate more revenue, coupled with the
increased volume and complexity of information requests, has
catalyzed the emergence of Strategic Response Management – the
people, practices, and technology that unlock organizational
knowledge for profitable growth.
"Historically, bid and proposal teams have been seen as cost
centers, but this view is outdated,” said Danelle Morrow, VP, North
America Proposal Development Center at Sodexo. “By elevating the
practice, proposal teams are transforming into strategic response
teams that align cross-functional stakeholders, processes, and
systems to deliver winning responses to information requests by
harnessing a company’s knowledge. The results are happier employees
and greater topline revenue. It’s time to recognize proposal teams
for their vital role in making the revenue engine hum."
“Bid and proposal teams have always been key growth drivers. As
they face even more pressure to contribute to revenue, they are
rising to the challenge, and in doing so, raising their profile in
their organizations,” says Rick Harris, CEO of the Association of
Proposal Management Professionals. “There is power in leveraging
all of an organization’s internal and external knowledge to
position bid and proposal teams for the win. By embracing AI and
linking strategic responses to better outcomes like higher win
rates, increased revenue and better employee experiences, these
teams are elevating their profession, gaining more investment, and
raising their visibility as a critical part of the revenue
engine.”
In the SRM report's second year, Responsive surveyed over 750
sales, proposal, and IT executives and practitioners in the US, UK,
and India who have ownership or influence over their company’s bid,
capture, and proposal management activities. Participants were
categorized as Leaders or Novices based on win rates, revenue
growth, or employee satisfaction.
The Impact of AI on Strategic Response Management
The research indicates a clear divide between leading companies,
which report increased revenue through the use of a response
platform incorporating AI, and Novices, who primarily use
traditional productivity tools and ad hoc processes. Most Leaders
view AI as augmenting human input rather than replacing it, with
56% of Leaders anticipating that AI will optimize staff time
without increasing team size.
“With an increase in the variety, complexity, and volume of
information requests, combined with greater pressure to grow
revenue, the benefits of AI-powered Strategic Response Management
are clear. Today, AI is bringing measurable value to bid and
proposal teams, not only by increasing productivity, but also by
driving more revenue,” said Ganesh Shankar, CEO of Responsive.
“Forward-thinking leaders are reaping the benefits of the latest AI
advances, as evidenced by greater win rates and employee
satisfaction.”
Eighty-nine percent of respondents are experimenting with or
have already used AI software to respond to information requests.
But it’s the leading organizations that are driving greater revenue
by investing in platform-level capabilities that extend beyond
GenAI functionality for generating responses. Forty-five percent of
Leaders, who experienced year-over-year revenue growth, use SRM
platforms with natively embedded AI.
Other key findings:
- 85% of proposal teams designated as Leaders shape their
company’s go-to-market strategy.
- 80% of Leaders are more likely to use data and analytics from
response systems to improve processes and increase win rates,
compared to only 61% of Novices.
- Less than half of Novices have self-service tools for bids and
grant access to users outside of the response team to content used
in strategic responses, while 84% of Leaders do, boosting employee
satisfaction.
To download the full, ungated report, visit the 2024 State of
Strategic Response Management Report page.
About Responsive
Responsive (formerly RFPIO) is the global leader in Strategic
Response Management software, transforming how organizations share
and exchange critical information. The AI-powered Responsive
Platform is purpose-built to manage responses at scale, empowering
companies across the world to accelerate growth, mitigate risk and
improve employee experiences. Nearly 2,000 customers have
standardized on Responsive to respond to RFPs, RFIs, DDQs, ESGs,
security questionnaires, ad hoc information requests and more.
Responsive is headquartered in Portland, OR, with additional
offices in Kansas City, MO and Coimbatore, India. Learn more at
responsive.io.
About APMP
The Association of Proposal Management Professionals' mission is
to be the trusted leader that serves a global community of bid and
proposal development life cycle professionals. APMP promotes the
professional growth of its members by advancing the arts, sciences,
and technologies of winning business. APMP is the worldwide
authority for professionals dedicated to the process of winning
business through proposals, bids, tenders, and presentations.
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version on businesswire.com: https://www.businesswire.com/news/home/20240731807480/en/
Ashley Paula-Legge Big Valley Marketing for Responsive
alegge@bigvalley.co