AI transforms the business of tender writing in Australia
GPTStrategic, a product development studio that builds enterprise-grade generative Artificial Intelligence (AI) solutions, has announced a strategic partnership with BidWrite, an award-winning, specialised tender and proposal management services organisation.
The new platform, bidwritegpt comprises four ‘AI assistants’, aka AI agents which operate like turbocharged chatbots with a degree of autonomy that can make “executive decisions.”
BidWrite has been using iterations of bidwritegpt – based around those four AI agents – with great success. It’s now in negotiations to help several listed companies implement “the only platform truly designed by bid professionals, for bid professionals”.
How the partnership began
AI was around when Nigel Dennis co-founded BidWrite with his old Air Force buddy David Lunn in 2008. But they didn’t foresee it shaking up the low-profile but lucrative tender writing industry.
“David and I both studied engineering, Dennis notes. “I used to do repairs on jet aircrafts and then go up in them with test pilots. Neither of us are Luddites. But even after ChatGPT’s release, we didn’t immediately realise what a game-changer it would be for industries like ours.”
After chatting with Andrew Gunnis (pictured), Co-Founder of GPTStrategic, Dennis had what he now calls his ‘Kodak’ moment. “We realised there were two options. Get with the Gen AI program ASAP or potentially be put out of business.”
Invigorating the bid writing process
From mid-2023 onwards, Dennis – a prominent industry figure – partnered with Gunnis to rejig his business for a post-Gen AI world. The fruit of this high-powered collaboration – the bidwritegpt platform – recently launched and has already caught the attention of some corporate heavy hitters.
“Everyone in the industry has now realised what’s bearing down on them,” Dennis said. “Some other tender-writing businesses have sought to create Gen AI tools. More commonly, tech companies with minimal tender-writing domain expertise are creating solutions they hope will appeal to businesses that have previously used tender writers.”
“But we’ve chosen a path that combines the substantial bid-writing IP BidWrite has accrued with the tech smarts of the GPTStrategic geniuses. The market will soon determine the success or otherwise of our product. But Andrew and I are confident it’s one of the best solutions currently on the market.”
Scaling tender opportunities
According to Gunnis, the bidwritegpt platform has already at least halved the time and effort BidWrite staff need to put into a bid.
“Even in the unlikely event the process isn’t further automated, BidWrite’s clients can now double the number of tenders they are involved in,” he explains. “Whilst BidWrite’s win rate is about 70%, the industry-standard average win rate for tenders is about 20 per cent.”
“Even if a business remains at that average, it can expect to do double the work and generate double the revenue. However, the same AI tools that allow for automation will almost certainly also facilitate the upping of a business’s win rate. Organisations that invest in the bidwritegpt platform can therefore look forward to a healthy return for a modest investment.”
