CUSTOMER STORY

Jumio increases RFP win rate by 20% and doubles response volume without adding headcount

Key results

20%
Increase in RFP win rate
2x
RFPs answered

Jumio helps organizations know and trust their customers online. From account opening to constant monitoring, Jumio’s KYX Platform provides advanced identity verification risk assessment and compliance solutions that help accurately establish, maintain and reaffirm trust. With RFPs impacting up to 80% of all sales, a 30% growth in the salesforce, and a 40% growth in questionnaire volume, Jumio brought in Responsive to help streamline collaboration, centralize and manage content, and increase visibility into their RFP processes.

Jumio’s bid management team handles up to 350 questionnaires per year. RFPs are their primary focus, but the same content is used to respond to RFIs, due diligence questionnaires (DDQs), and GDPR and security questionnaires. Responsive was brought in to make life easier for the bid management team, but other teams — including sales, product management and legal — are enjoying the benefits, too. Jumio uses Responsive as a single source of truth with a consolidated Content Library and automated review processes to keep it up to date. Led by an inspiring bid management team leader who exemplifies Jumio’s commitment to quality responses, Responsive is helping multiple teams collaborate efficiently while increasing RFP win rate by more than 20%.

Jumio results to date :

More than doubled capacity to simultaneously work RFPs in flight, from 5-6 per week to 11-14 per week.
Increased RFP win rate by more than 20%.
Respond to up to 350 RFPs, RFIs, DDQs, and GDPR and security questionnaires annually.

Pushing beyond human limits

RFPs are instrumental in 70-80% of Jumio’s sales, including renewals of its pioneering identity verification software. Add in RFIs, security questionnaires, DDQs and GDPR questionnaires and Mythili Gopi’s bid management team handles up to 350 questionnaires per year.

Back when Mythili’s team only handled 150 questionnaires per year, she assembled a process involving Google Drive, Slack, a spreadsheet containing 72 tabs, team input based on experience, and a tenured representative from every department who was the subject matter expert (SME) for RFP answers. It was complex and extensive, but Mythili held it all together and continually produced high-quality responses.

“Anybody on my team can reach out to the vice president of engineering or product or legal or any other team because they would be the key contact for our RFP support,” Mythili said. “So we always had access to quality answers. But regardless of the answers, we did not have enough time to turn around the RFPs in the stipulated time frames.”

As the annual number of questionnaires grew toward 200, Mythili’s team kept five or six RFPs in flight every week, scrambling for 20-30% of content for each. “It was humanly possible, but the pressure was mounting, and the work was getting tougher.”

Jumio wanted to grow, which meant the number of questionnaires would also continue to grow. To allow Mythili and her team’s mission to scale alongside the company’s growth without adding headcount, Jumio brought in Responsive.

Overcoming 3 major response challenges

Jumio evaluated three solutions, initially seeking only to improve life for the bid management team. Early on, they discovered that the entire organization could benefit from Responsive’s centralized Content Library. In fact, Responsive ticked all of the boxes and more to help Jumio address three major response challenges:

  • Collaboration: Response is a team effort at Jumio, but the company’s global footprint and growth mindset contributed to destabilizing inefficiency.
  • Siloed, scattered content: Content was stored on a Google Drive, Slack, email and individual computers, making consistency difficult and resulting in repetitive tasks.
  • High-stakes revenue implications: With up to 80% of sales depending on RFPs and a salesforce in hypergrowth mode, the bid management team needed more bandwidth to keep up.

Within two months of deployment, all users were seeing the benefits of using Responsive. The content owners received fewer disruptive queries and the bid management team was able to complete larger portions of questionnaires on its own.

“Suddenly in two months, we all became technical experts confidently churning out these answers, and the larger Jumio team started liking Responsive.”  

– Mythili Gopi, Manager, Bid Management Team at Jumio”

Now, Responsive is used by multiple teams in the organization as a single source of truth. For example, product and legal teams refer internal inquiries to Responsive so employees can locate their desired information on their own.

Streamlining collaboration across multiple teams

Mythili’s five-member team works out of offices in Colombia, Kenya and India to support sales teams operating out of the U.S., UK and Singapore. As a result of being scattered across multiple time zones, the bid management team lacked visibility into what SMEs had already been asked, resulting in too many repetitive inquiries.

“More than 50% of our work involved following up. We were the chief following-up officers. All of us were ‘CFOs.”

– Mythili Gopi, Manager, Bid Management Team at Jumio”

A typical RFP would involve an initial email to all department heads, and then tracking them down every three days, either in Slack or through email. Tracking communications across multiple channels for multiple RFPs in flight consumed an inordinate amount of the bid management team’s time and impacted submission deadlines. Mythili requested extensions sometimes, but her team never missed a deadline.

With Responsive all response communications have been unified on a single platform, streamlining collaboration and eliminating repetitive inquiries. Mythili’s real-time dashboard helps collaboration within her team. “I start my day, I look at the dashboard and I can immediately see, ‘Oh yeah, this InfoSec team member hasn’t responded in the last four days. Let me give a nudge.’ That person could be working from the UK, pretty much aligned to my time zone and I give a nudge and I get the answer, complete, in time.”

Organizing content to be able to give the best answer

Centralizing content and automating the processes for content review have helped Jumio in many facets. “Rarely, there are times that I do not review [the RFP response], but if I don’t review, it’s only because I know the answers are right and taken straight from the Responsive Content Library, which is updated,” Mythili said.

“It doesn’t matter if it is an RFP, if it is going to carry millions of dollars of opportunity size, or if it’s a plain, know-your-customer eKYC kind of document,” she said. “My team does not look at a questionnaire in that perspective. We give our best answers with the updated repository that we have.”

Mythili has set up automated content review cycles to keep her Content Library up to date. She identifies content that requires regular reviews (e.g., ISO and PCI DSS policy documents), sets a review cycle timeframe (quarterly, biannually and annually), and then assigns a content owner. That owner automatically receives an alert that a review is due. When their review is complete, Mythili can review her dashboard to see that the content is updated.

The Responsive Content Library is also contributing to more RFP wins.

“Our success rate is definitely more than 60%, and I’m very proud of it. And that’s been constantly on the rise. I would definitely attribute it to the organized Content Library and the features that allow review of these answers.”

– Mythili Gopi, Manager, Bid Management Team at Jumio

Expanding Content Library benefits beyond the bid management team

Simply put, Responsive seeks to make it easier for organizations to share and exchange information. At Jumio, the bid management team has executed on that perfectly as it uses its Content Library to respond to RFIs, DDQs, and security and GDPR questionnaires. But Mythili recognizes the value of the Content Library everywhere in the organization and is working to expand to other teams.

Other than her five-member bid management team, Mythili has activated almost 150 Responsive users, making teams more confident and self-reliant in the process.

“The Responsive  response management tool has significantly improved our proposal process. Its repeatable workflows and reusable knowledge base have allowed us to streamline the process from end-to-end and increase the throughput of our RFP responses.”

– Christian Schwaiger, Senior Director, Information Security at Jumio.

Sales and business development reps use the Content Library for cold calls and follow-up responses when engaging with a prospect prior to the RFP stage. Account managers and solution engineers respond to customer inquiries or share updated policy documents during renewals using the Content Library.

Responsive is now such an essential tool to Jumio’s sales team that new hires are added as users when onboarding. According to Mythili, “Right at the time of a new induction — when an account executive, an account manager or a solution engineer is hired — the first week will include Responsive induction as well. I always sell Responsive as a magic bullet when I introduce my first demo to any new users.”

Jumio also integrated Responsive with Salesforce to make it easier to scale with the sales team. “The sales group — that’s such an awesome team — all they have to do is just click the ‘Create Project’ button and then half of the form is auto-populated from Salesforce. The opportunity size, the opportunity value to the history of the account, what is the ask, everything that I need to know,” Mythili said.

Working with Responsive support during deployment

While deploying Responsive, Mythili had many questions, but not around completing RFPs. That was much easier. She also wanted to learn how best to manage the Content Library so that she could properly train her team. There were multiple Zoom calls where she relied on Responsive experts to teach her best practices.

“Your India support team was amazing,” Mythili said. “They jump on a call in less than half an hour when I raised a ticket. For larger issues, when they needed a little bit of time, they always recorded the session and would come back promptly with a response. So the initial period of support when I needed it the most was amazing.”

Before Responsive After Responsive
Bid management team had capacity to manage 5 or 6 RFPs per week. Bid management team has capacity to manage 11 to 14 RFPs per week.
Bid management team achieved 35-40% success rate while working with complicated, frustrating manual processes. Bid management team achieves 60% success rate and growing with new sense of ease around response processes.
Bid management team was able to manage up to 200 questionnaires per year. Bid management team manages up to 350 questionnaires per year.
Bid management team had to inefficiently chase down content for RFPs, RFIs, DDQs, and GDPR and security questionnaires. Bid management team uses trusted Responsive Content Library to respond to RFPs, RFIs, DDQs, and GDPR and security questionnaires questionnaires.
Management relied on anecdotal feedback regarding RFP processes and the bid management team’s workload. Custom reporting and real-time dashboard provides “microvisibility” into RFP processes and the bid management team’s contributions.

Harnessing the power of “microvisibility”

Mythili believes her team is better and faster with Responsive. In fact, she can confirm it through review of her highly detailed dashboard, which she built based on Responsive’s reporting capabilities. She calls it “microvisibility,” and it’s producing some impressive results.

  • Improving her relationship with her manager: “The conversations that I have with my manager have become really friendly because he knows that I’m working. He really doesn’t have to ask work-related questions because he can access the answers on his own,” Mythili said.
  • Protecting her team’s time if a user tries to offload a task: “I open the report and say, ‘Hey, you looked at this questionnaire only for seven minutes and 30 seconds. Go back, work on the questionnaire, spend an hour, and if you can’t find the answers, then you come back to me.”

Microvisibility also gives Mythili peace of mind that she’s in control of all her projects. She doesn’t have to explain anything to her manager and her team doesn’t have to explain anything to her. Trust is being built within her team and between multiple teams. Stakeholders know that content is being reviewed, individual RFP projects are progressing, and when the bid management team says they’re fully booked, they really mean it.

Finally, microvisibility is also a pivotal factor in Mythili’s two favorite Responsive benefits.

“The two top benefits of using Responsive would be the content library and the project management. It’s like we do not have to communicate on emails or Slack. Responsive has everything.”

— Mythili Gopi, Manager, Bid Management Team at Jumio

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