What Is An RFP?
Benefits Of Issuing an RFP
When To Issue RFP?
Steps In an RFP Process
2 Draft And Issue
3 Review The Bids
4 Select a Winner and Send the Contract
Best Practices for Submitting RFPs – What to include in an RFP?
The Right RFP Template
Include A Project Overview Section
Paint a clear picture of your company history and needs. At a minimum, remember to include:
- Company history and overview
- Project name and goals
- RFP point of contact information
- Submission deadline
Share your RFP Process
To avoid any misunderstandings in the future, explain your RFP process so that the vendor knows what to expect from the start. Also inform them if you will request any online or onsite meetings following your initial reviews to ensure the vendor comes prepared to meet your needs.
Include an outline of the proposal submission so that you receive responses in your preferred format, from suppliers, making it easier to evaluate.
Learn From Peers and Browse Online for Sample Templates
Observational learning is the best form of learning. There is an array of great RFP examples online for almost every procurement situation. Observe what information other businesses request as it can help reassure you if you are asking the right questions.
Categorize and Tag Questions
While building a catalog of RFP templates, save time by categorizing and tagging RFP sections on the bases of how you use them. For example, you can ask all technology vendors the same security questions, group them together and easily incorporate the grouped questions into your technology RFPs.
Draft Contractual Agreement (aka DRAFT Terms and Conditions)
A draft of the contractual agreement will be provided so that the vendor can review the terms and conditions that need to be adhered to on winning the contract.
Ask What You Need to Know Before Making the Deal
Ask about anticipated key milestones and how much time your team will need to dedicate to this project. For example, if you and your team have to dedicate 100 hours of development work or more. Everyone benefits from knowing this information in advance.