Let’s face it, most participants in the RFP process (from either the Issuer’s or the Responder’s perspective) don’t profit from it. You would think that the Issuer would always benefit but, in fact, they usually only achieve cost savings in trade for
In theory, if you really want to find the best solution at the best price, you need to talk to a lot of different suppliers and be willing to review a lot of bids. But who wants to source 100 vendors – or even 20 for that matter? In the past, I have always encouraged my clients to issue a short “Request for Information” or RFI in advance of the RFP process.
For those businesses on a calendar-based fiscal year, Requests for Proposals (RFPs) are already hitting the street. RFPs are a lot of work for both Issuers and Suppliers. They work out best for everyone when it is a respectful process. Issuers don’t get the best bids when they treat suppliers like second-class citizens of the business realm. Likewise, suppliers don’t get the respect they deserve when they don’t play by the rules or fail to state their case in an effective manner.