Introduction
PicnicHealth, a leader in managing patient-driven health data, partnered with DealPage to streamline their sales and proposal processes for their Life Sciences business - PicnicHealth Research. DealPage's AI-driven platform offers a comprehensive solution for organizing and accessing crucial sales content and security documents, helping the PicnicHealth team streamline their sales cycle.
The Challenge
PicnicHealth faced significant challenges in managing product and security information distributed across multiple knowledge bases and devices. This often required team members to search through multiple tools and documents, or manually message teammates, to find answers to questions during the sales and proposal processes. This was a critical friction point in their sales cycles, as they catered to leading biopharma companies with stringent security concerns and tons of questions.
Responding to RFPs was not only time-consuming and repetitive but also extremely resource-intensive. During initial conversations, Picnic Health estimated they were spending over 100 hours per RFP response, often repeating work or making small adjustments to content that was previously written. This time was spent reading through RFPs, planning for their proposal, and then dozens of hours drafting and editing outputs. RFPs often had hundreds of questions which had to be answered, leading to long work weeks and delayed responses.
The Solution
DealPage provides PicnicHealth with a solution for knowledge management, search, and workflow automation.
- Knowledge Base: Centralized storage for documentation, security documents, RFPs, and enablement materials.
- Deals Module: Organized databases for SOWs, contracts, and other sales data.
- Slack Integration: Enabled real-time communication with the AI assistant, Paige, within the team’s existing workflow.
- RFP and SQ Workflows: Automated responses to streamline the RFP process.
Implementation:
PicnicHealth responds to complex RFPs and Security Questionnaires, with various unique answers associated with the custom solution proposed. DealPage's AI-native response workflow allows PicnicHealth to streamline even the most complex RFP responses.
- Document Segmentation: Due to the variety of products and services offered, PicnicHealth needed a way to segment documents within their Knowledge Base. The implementation of DealPage's Product Label functionality allows users to filter searches by the intended entity, ensuring that the correct documents and information were used for each prospective Deal and workflow
- Custom Outlines and Contextual Responses: To help draft complex proposals, the DealPage RFP workflow incorporates PicnicHealth's internal strategy for winning specific RFPs. For example, specific strategies, proposed schedules and implementation timelines can be added as Notes during the RFP process to guide the model's responses. This allows for highly contextual and tailored first-draft responses that require much less human editing.
- CRM Integration: DealPage provided a one-click integration that matches PicnicHealth's Salesforce deal stages, making it easier for the team to search and retrieve relevant data aligned with the sales pipeline. This integration was crucial for maintaining consistency and efficiency in tracking customer interactions and stages.
Results and Impact
The implementation of DealPage led to substantial improvements:
- Time Savings: Reduced time-to-answer by 90%, bringing down the time spent on an RFP or SQ from over 100 hours to less than 2 hours
Conclusion
The partnership between DealPage and PicnicHealth successfully addressed key challenges in managing complex security data and streamlining the RFP process. The solution not only saved time but also improved the quality and efficiency of their sales operations. For companies looking to enhance their sales and proposal processes, DealPage offers a powerful and adaptable solution to consider.
