VisibleThread drives compliance, flags risky content and improves probability of win.
VisibleThread was founded in 2008. Coming from a background of large scale IT Delivery, we observed that poorly written specifications & documented requirements accounted for up to 40%* of wasted program dollars.
We identified the need to address document quality by scanning the content and identifying risk. Existing methods were purely manual, involving time-consuming review cycles, dependent on scarce expertise and hard to coordinate. There had to be a better way!
Others agreed. VisibleThread went into private alpha/beta releases during 2008 and early 2009 with over 50 deployments. In May of 2009, we secured $1.5m in seed funding. We went to public beta in Q3, 2009, followed by a first GA (General Availability) product release in Q4 2009.
Our first corporate customers came on board early 2010. Our US Baltimore office was established the same quarter. Our first fortune 1000 customer in Q2, 2010. We have been growing ever since and now work with many of the fortune 1000 and leading integrators.
As of Q2, 2012, 3 of the top 5 US Government Contractors use VisibleThread. We also announced a strategic partnership with Deltek (NASDAQ:Proj) which exposes VisibleThread capability to the 30,000 strong Deltek GovWin IQ customer base.
* Hooks and Farry, 2001.
How do we help?
Our document content analysis software identifies defects and streamlines document compliance. The software enables users to scan MS Office and PDF docs for liability concerns, automatically create compliance documents, coordinate and track changes from multiple stakeholders, and provide project oversight.
Today the company offers VisibleThread for contract specialists, capture managers, proposal response teams, legal reviewers and IT development teams. The identification of compliance, legal, and delivery concerns through automated scans enables proposal response teams to improve efficiency and increase their probability of winning government and commercial contracts.
Who we work with?
Our customers come from two areas: IT Delivery and Bid / Proposal Development. In the IT sector, we work with many of the leading US Banks.
During the latter part of 2010, some of our IT customers started using VisibleThread for Bid Development. Interestingly, the same pain that applied to IT equally applied in this space. Bid Development is time intensive, highly manual and very document centric.
The product was such that IT scans could be swapped for Compliance and Contract Liability scans. Identifying contract risk and the ability to foster efficient rainbow team reviews resulted in our engaging with some of the leading US Federal government integrators