Summary

The manual and time-consuming process of responding to requests for information (RFPs, RFIs, bids, tenders, due diligence questionnaires, security questionnaires, and more) is undergoing a major transformation.

Strategic Response Management is a new category that will automate the entire process, generate higher quality results, and have a larger impact on the bottom line.

Introduction

Response teams are under pressure to create responses that satisfy and win customers, but they are not set up for success. Manual response is a time-consuming, scattered process that makes it nearly impossible to handle high volumes of requests for information or complex requests. It also leaves room for ample human errors and inaccuracies, due to inconsistencies in information that stem from the lack of a cohesive strategy and centralized knowledge base.

All of these can factor into low win rates and can cause an enterprise’s reputation to suffer. The Strategic Response Management (SRM) category is emerging due to this critical need. SRM platforms give response and sales teams both a process and a platform to assess and respond to opportunities quickly and with accuracy. Technologies such as content automation, content AI, and workflow power these platforms.

This Research Note will introduce the pressing need for Strategic Response Management platforms, identify the capabilities of these platforms, and discuss how enterprises can begin transforming how they respond to requests for information.