JAGGAER accelerates autonomous commerce strategy with RFPIO partnership
Jim Bureau of JAGGAER
5 May 2022 – JAGGAER, the global specialist in Autonomous Commerce, today announces a new strategic partnership with RFPIO, the RFx software and response management platform. The alliance advances JAGGAER’s Autonomous Commerce strategy by automating the historically labor-intensive and time-consuming request for proposal (RFP) supplier response process.
JAGGAER enables procurement teams to make more informed and strategic buying decisions by recommending qualified suppliers to invite to bid, which questions to include in the RFP, what criteria should be used to evaluate respondents and how to frame questions based on the product and category. RFPIO now extends this by helping the supplier appropriately respond to RFPs.
RFPIO improves the efficiency and win rate of responses for suppliers. The system maintains and continuously updates a library of pre-approved and compliant responses. Once an RFx is received, RFPIO uses machine learning (ML) and artificial intelligence (AI) to autonomously generate responses based on the library. Responses can be then reviewed and finalised by users in a fraction of the time it would take to create manually. Once finalised, the RFP response can be easily submitted to the buyer.
In cases where strong content does not already exist in the supplier’s response library, questions can be shared across the team and routed for approval and submission. Ultimately, the system helps suppliers respond to RFPs faster, collaborate with critical organisational resources to tailor the responses to the prospective customer and win a higher percentage of bids, resulting in accelerated revenue growth.
Ganesh Shankar
“The premise of Autonomous Commerce is to make life easier and more efficient for buyers and suppliers so that they can focus on driving value for their organisations,” says Jim Bureau, CEO of JAGGAER. “By applying AI to the RFP process, we’re offering a streamlined and fully digitised experience that significantly cuts down cycle time, brings new business opportunities by matching buyer needs with supplier capabilities and accelerates time to value for all parties. This is a prime example of how Autonomous Commerce is transforming the way enterprises approach business.”
“The typical end-to-end RFP process takes a lot of time and effort for organisations. We’re employing automation with a human touch,” says Ganesh Shankar, CEO at RFPIO. “Suppliers benefit from more efficiency, structure and control. Buyers get what they need with speed, quality and from a greater selection. These mutual benefits have been at the centre of RFPIO’s vision from the beginning and JAGGAER’s Autonomous Commerce strategy aligns perfectly with our technology, focus and experience.”
Extensibility is a cornerstone of Autonomous Commerce. JAGGAER is committed to providing its network of suppliers, buyers, and partners with simplified plug-and-play access to solutions such as RFPIO.
Learn more about JAGGAER and its Autonomous Commerce strategy.
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