How we built the assessment

In a market flooded with 100+ AI-powered tools for bids and proposals, a rigorous and hands-on approach is essential to separate hype from reality and deliver real value to organizations. 

Hovester and Strategic Proposals jointly designed the MyProposalPathway methodology to evaluate individual tools and provide a holistic understanding of the landscape and its nuances. We began with comprehensive market research to identify key vendors and emerging innovators in the space.

Then we analyzed the underlying AI technologies powering these solutions, including Machine Learning (ML), Natural Language Processing (NLP), Generative AI (GenAI), and more specialized technologies like predictive analytics and rule-based AI. Each of these technologies has unique uses and implications. For example, some excel at automating repetitive tasks such as compliance matrices, while others enhance decision-making (bid/no-bid) or generate first drafts. Understanding these distinctions is critical for matching the right tool for each organization's specific needs.

To validate our findings, we engaged directly with vendors, participating in live product demos and posing targeted technical and commercial questions. These interactions gave us a hands-on understanding of how each solution performs in real-world scenarios. 

Beyond the technology, we also conducted thorough due diligence on vendors. We examined the founders' backgrounds, the company's financial stability, as well as their ability to scale and innovate in a competitive, low barrier-to-entry market. This step was crucial because while many tools claim to solve all bid and proposal pain points, not all deliver on that promise. 

Finally, we brought the human element into our evaluation, conducting over 100 discovery calls with clients across various industries (e.g., aerospace, defence, AEC (Architecture, Engineering and Construction), technology, telecommunications). These conversations revealed the diverse challenges and priorities of professionals working in bids and proposals, from content management and compliance to automation and analytics. 

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How do we assess vendors?

We created a comprehensive evaluation framework encompassing the following considerations:

Technology

  • Core AI technology: The types of AI (e.g., GenAI, NLP, ML) used and their suitability for specific tasks within bids and proposals.
  • Scalability: Whether the tool can grow with the organization's needs, handling larger datasets or user bases seamlessly.
  • Integration: Compatibility with existing systems like Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), and content management platforms.
  • Performance metrics: The accuracy and reliability of outputs such as compliance checks and content quality.
  • Security: Robust data protection measures and compliance with regulations like System and Organization Controls 2 (SOC2).

Product features

  • Ease of use: How intuitive and user-friendly the tool is, at every experience level.
  • Customizability: The ability to tailor workflows, templates, and features to specific business needs.
  • Collaboration features: The support for team collaboration, such as multi-user editing and version control.

Vendor viability

  • Company stability: The financial health and longevity of the vendor, including funding sources (e.g., venture capital-backed vs. bootstrapped).
  • Leadership team: The expertise and track record of the founders and executive team.
  • Market presence: Client portfolios, case studies, and customer reviews to gauge the vendor’s reputation.
  • Innovation: Whether the vendor is committed to advancing their product and staying ahead in the evolving AI landscape.

Commercial considerations

  • Pricing model: Subscription, licensing, and additional costs for a transparent understanding of total investment.
  • Total Cost of Ownership (TCO): Factoring in implementation, training, and ongoing maintenance costs.
  • Customer support: The availability, responsiveness, and quality of support services.
  • Return on Investment (ROI) potential: Whether the tool delivers measurable value, such as cost savings, time efficiency, or increased win rates.

Implementation

  • Ease of deployment: The time, effort, and resources needed to get the tool operational.
  • Training and documentation: The availability of training programs, documentation, and user guides.
  • Change management support: The vendor’s ability to assist with adoption and onboarding.
  • Future upgrades: The ease and frequency of accessing new features and improvements.