RFI/RFP process consulting

Technological innovation cycles force enterprises to regularly review, whether the applied technologies still meet the market requirements. But how do I find the best technical solution for my specific company? And what are my specific requirements that a new technical system needs to meet?

The selection of a new technical system is clearly an enterprise project, that should stepwise lead to a selection decision:

The first step is to analyze the deficites, that arise with the currently used systems. This includes a first rough estimation about the possible financial invest that can be taken in order to level the existing deficites and at the same time promise future investment securing. The result is a business case, which will be presented to the board for a decision about the upcoming steps.

In the second step all requirements to the new technical system will be collected. It is the phase of the requirements analysis. The result of this step is the requirements document. This is the basis for following system evaluation process.

In a third step, information about vendors, who offer suitable products or solutions at the market, will be collected and evaluated. Very often a first criteria catalogue will be provided to potential vendors, and they will be invited to respond in written form to that invitation (Request for Information, RFI). The criteria for a vendor selection will be defined or refined. Commonly with the requirements document they become part of the vendor evaluation.

In a following step the Request For Proposal (RFP) documents will be compiled. The official RFP will be sent out to pre-selected potential vendors along with the request to provide a detailed service and delivery proposal to the enterprise.

After having received incoming RFP responses, they will be assessed and a selection of vendors will be invited to vendor presentations. Here, the vendors present their product and their company profile to an internal selection committee. At the end of the vendor selection process the selection committee elaborates a selection proposal that is delivered to the enterprise board as a recommendation for a buy decision.

The consultants of PMsp gained experience in many RFP processes (also as a vendor). They know about the methodological and logistical challenges of vendor bid processes. We build the vendor bid procedure and accompany you through your selection process.

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