RFP

A request for proposal (RFP) is a solicitation document that an organization posts to elicit bids from potential vendors in order to procure a product or service through the responding business proposals. The RFP process is meant to bring structure and transparency to the procurement decision, while reducing risk through open requirements and discussion.

A Request for Proposal, also called an RFP or RFQ, is a document issued by a company when it wants to buy something and chooses to make the specifications public. This usually is done to have several companies bid on the work, thus producing more competitive prices. However, if it is not done correctly, it can produce no bids or bids that are a waste of your time. So, we are providing high quality RFPs which are avoid wastage of your time and to get the bid very relevant to the proposal.

There are a number of variations on Requests for Proposals (RFPs), namely:

A Request for Proposal (RFP) is an invitation for suppliers, often through a bidding process, to submit a proposal to provide a specific product or service. It is intended to provide the supply side company with the necessary information needed to submit a comprehensive and definitive approach to sourcing some part or all of the training function.

A bidding process is one of the best methods for leveraging a buying companys negotiating ability and purchasing power with suppliers. The RFP is the most important and widely used document in the proposal stage of that process regarding training outsourcing. The ultimate objective of the RFP process is for buyers to ensure they are getting the most value for the services and products they seek to procure.

At BizRuntime we are providing higher quality of the RFP, Effective RFPs reflect the buy-side companys strategy and short/long-term business objectives, while providing detailed insight upon which suppliers will be able to offer a matching perspective. Input from a spectrum of functional experts ensures that the chosen solution will suit the buyers specific requirements.

The document includes an executive summary, a detailed description of the process(s) to be outsourced, volume and value metrics of operations, specific process and performance expectations of the outsourcing supply partner, a responsibility matrix defining expected responsibilities of both the demand side and the supply side companies, and proposal guidelines to be followed by each.

Homework

Before we start to write an RFP, figure out what you really need, what you want, and what is possible.

Distinguish Between Needs And Wants

We clearly understand clients requirements and understand what are the needs and wants to the client. It is very important to provide needs and wants because they are different where as needs are respectively a product or a service and wants are the optional features that the client expect with the respective product or service.

Decide What The Winner Will Look Like

The proposals get back in response to the respected RFP will differ. Each company that responds will have different strengths. Some will focus on lowest cost; others on best quality; still others on most complete feature set. By analyzing client requirements , we should decide up front whether you are looking for the lowest cost, the fastest delivery, or some combination.

Introduction

This is where you explain to potential bidders why you are publishing the RFP and what you hope to achieve by doing so. The introduction may also include a summary of the key points from the other sections, including due date. For example an RFP for an image transmission system, the introduction might read something like this: "XYZ Company requests proposals for a highly-reliable, easy-to-use system capable of transmitting images from the main office to vans anywhere in the metropolitan area. Responsive bids must be received by Monday, March 5, 2007 at 8AM PST."

Requirements

This is one of the most important and it usually takes the most time. From the example above, you would need to specify the size and clarity of the images to be transmitted and the necessary speed. Be sure to specify what you need, not how it is to be done unless that is essential. You might want to break this up into subsections by system, for example a) image size and quality, b) transmission (which could include both desired speed and any requirements that the transmission be secure), and c) desired options (where you might list color as a desirable option).

Selection Criteria

we have to tell the bidders as much as you choose about how the winning bidder will be selected. It is a good idea to include a sentence like "The winning bidder, if any, will be selected solely by the judgement of XYZ Company." Some government RFPs are very specific on the selection criteria. Most commercial RFPs are less precise. We create a spreadsheet that awards each bid a certain range of points in each category and then have a team make a choice of the "best" bid from the ones with the top three scores.

Timelines

This section tells companies who want to bid on your RFP how quickly they must act and how long the process may take. Be reasonable when setting the deadlines. Dont ask for proposals for complex systems and only give the bidders a few days to respond. The larger your RFP, the more complicated the desired purchase, and the more detailed the required response, the longer the time to prepare the bid should be. This is also where you tell the bidders how long the evaluation process will take, when the bidders will be notified whether they were successful or not, and how soon they will have to deliver.

The Request For Proposal (RFP) can be one of the most timesaving documents in the industry, if it is well written and responded to appropriately. A good RFP will help the writer collect comprehensive and comparable bids for an equitable evaluation of potential service providers and subcontractors. It will help the bidder prepare a proposal that completely addresses the specifications and requirements, as well as highlights a companies unique benefits and features.