Winning New Business with AI-Enabled Intelligent Search

Overview

The client’s Bid & Proposal team supports the acquisition of a large percentage of the company’s overall revenue. They had relied on a set of tools that allowed them to manage their content library and enable proposal writers and managers to reuse their prior content in new proposals. However, as their repository grew over time, the effort required to manage the library was becoming too time-intensive, and finding prior content was frustrating and slow. They needed a new approach.

Objective

Increase the efficiency of the existing team and improve the return on prior knowledge
In order to avoid the increasing complexity and demands of managing an ever-growing content repository, our client was looking for new approaches to ease their workload. At the same time, they hoped to make content reuse easier for the organization for teams working across different vertical business units. They wanted a solution to get more from their existing unstructured information by surfacing content in a more intuitive way.

Why PARC?

AI-Enabled Intelligent Search
PARC’s unique approach to enabling document understanding and more intuitive Intelligent Search through the representation of content in vector space enables knowledge workers to find and leverage unstructured knowledge more efficiently and effectively than ever before. With these capabilities tuned for Proposal professionals in DraftSpark RFP Response Software, PARC has made it simpler for these teams to operate more productively.

Solution

DraftSpark™ RFP Response Software
DraftSpark is a SaaS-based software solution that leverages PARC’s Intelligent Search and AI-based document understanding at its core. DraftSpark empowers Bid & Proposal teams as well as Sales professionals to find and benefit from prior content easily. DraftSpark offers both end-to-end RFP response functionality as well as a search-only version of the software for teams interested in managing their proposal repository and reusing their prior knowledge in new documents.

The client adopted DraftSpark’s SaaS-based solution, easily uploading new source documents and migrating their existing document library with minimal effort. The Bid & Proposal team was up and running quickly using the DraftSpark web app interface, and now the business is rolling out the tool to additional users in Sales and other groups. These teams will be leveraging DraftSpark’s Word Add-in to make intuitive Intelligent Search a seamless part of the proposal drafting process.

Results

Content Retrieval Times Reduced by up to 75%
The team has seen a significant increase in productivity and efficiency based on DraftSpark’s semantic search capabilities. This has led to additional contract wins that would not have been possible in the past.