Bidhive, Brisbane Australia – Bidhive, a bid management platform for suppliers to manage the tender response process, today announced it will incorporate AI-powered knowledge search and generative AI across the platform to help business development professionals and subject matter experts create proposal and bid responses faster.
Bidhive AI will enable users to perform natural language search on vast amounts of previous bid submissions, company-approved content library assets, and bid related data to retrieve responses that they have previously answered, as well as quickly draft new responses and gather competitive insights in the context of a new opportunity.
Bidhive helps busy contractors scale their bidding efforts by giving them greater visibility of their opportunity pipeline, capture and proposal efforts in a single platform. The platform supports the end-to-end bid process, from aggregating real time data from different tender opportunity sources to providing project management tools and digitising bid governance across the full bid lifecycle. In addition to search and tracking capabilities, Bidhive also features reporting and analysis tools that capture performance metrics, including the ability to export data for reporting.
Bidhive Co-founder and Head of Product Aaron Godde said the first product release, Bidhive AI Assistant, will initially be integrated into the proposal stage, with plans to further embed the technology across other steps in the bidding process to leverage the huge volumes of market, business and competitive intelligence data already captured in the system.
“Participating in a tender process involves time and cost for tender participants, and there’s additional demands on busy people. While solutions need to be tailored for each customer’s requirements, pre-existing company information is also drawn upon time and time again.
“Customers can leverage smart search to find relevant content that is related to the current opportunity, freeing teams up to focus on strategy, compliance and the value proposition,” Mr Godde said.
“Successful bidding needs more time to win yet often what we need is hidden deep inside poorly organised filing systems and documents. Getting timely access becomes even more challenging in an enterprise environment when looking for important pieces of information feels more like searching for a needle in a haystack. This adds to the stress of a bidding environment when you’re already under time pressure,” Mr Godde said.
“Incorporating AI into an already data-rich end to end process will allow bidders to perform bid related tasks in real-time, helping them save hours of research, removing process inefficiencies and amplifying their growth by helping them improve performance outcomes and leverage marginal gains.”
Bidhive AI, which combines language models and proprietary data, is now available in beta for Bidhive early access customers and will become commercially available in the second half of 2023.
The Bidhive team will be exhibiting at the global APMP Bid & Proposal Con from May 21-24 in Orlando, FL.