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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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