New Strategic Response Management Category Promises to Deliver Faster Business Results
PALO ALTO, Calif., July 6, 2023 /PRNewswire-PRWeb/ -- Today, July 6, 2023, Aragon Research released its new report, "Getting to Faster Business Results with Strategic Response Management"–identifying a new emerging market category: Strategic Response Management (SRM).
The process of responding to requests for information (e.g., RFPs, RFIs, bids, tenders, due diligence questionnaires, security questionnaires, and more.) is undergoing a major transformation.
Today's response teams are under pressure to satisfy and retain customers, but their current setup is inadequate for success. The manual and time-consuming nature of the response process hinders their ability to handle high volumes of information requests or complex inquiries, leading to errors, inaccuracies, and potentially damaging the enterprise's reputation. The SRM category is emerging due to the critical need for a solution to these modern hurdles.
Strategic Response Management combines content automation with collaboration, knowledge, and project management–infused with intelligence–to streamline the entire external request lifecycle. By eliminating the need for ad hoc, cumbersome approaches, SRM platforms give enterprises the ability to handle even greater volumes of external requests across departments.
"Aragon Research expects the Strategic Response Management market will grow from $3.34 billion in 2023 to $22.74 billion by 2028 with a CAGR of 35%," says Jim Lundy, Founder and CEO of Aragon Research. "Part of the reason for the growth is the sheer need for these capabilities that automate one of the most tedious and repetitive parts of an enterprise that, until now, required the purchase of a number of distinct software offerings."
Aragon's research note on Strategic Response Management introduces the pressing need for SRM platforms, identifies the capabilities of these platforms, and discusses how enterprises can begin transforming how they respond to requests for information.
Strategic Response Management is quickly emerging as the next "must-have" category of enterprise solutions for go-to-market teams. An organization's ability to effectively and efficiently respond to information requests directly impacts its ability to win deals, mitigate risk, and enhance employee engagement and satisfaction. Enterprise leaders should use Aragon's report to evaluate this new category and its participants as a key part of their business transformation strategy.
About Aragon Research
Aragon Research delivers high-impact visual research, consulting, and advisory services to provide enterprises the insight they need to make better technology and strategy decisions. Aragon Research serves business and IT leaders and has a proven team of veteran analysts.
For more information, visit https://www.aragonresearch.com/.
Media Contact
Paula Quiroz, Aragon Research, 650-285-9889, [email protected]
SOURCE Aragon Research
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