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Market GoGo is no longer assisting with
RFP Services as a core business
Following our own best advice, we are
narrowing our scope of services, and so, Market GoGo has phased out
services related to RFP Creation, Management, and Responses.
However ... please read
through the remainder of this page. You may find some interesting
information.
How will I ever choose the right supplier?
Are you about to make a major
Marketing decision?
Do you need to selelct a supplier to
help you be successful? Maybe you need some complex software or a
custom development shop. There may be
lots of options available to you, and the vendors may be banging hard on
your door ... But, how will you ever figure out which supplier to
choose from?
The right answer to this complex question is to issue a Request for
Proposal (RFP).
The Three R's - RFI,
RFP, RFQ
- A Request for Information (RFI) is process that is used to collect
information about the capabilities of various vendors and the
opportunities they can provide. The format may be similar to an RFP, or
it can be substantially more flexible in nature. It may even be as
flexible as simply inviting some vendors to come in individually for a
chat and to provide a presentation. Outcomes of the RFI are more
information - for you to better understand your options and the
potential costs and benefits, and for the vendors to understand your
business challenges. There is typically no commitment to purchase
directly out of an RFI. An RFI is often the prelude to an RFP.
- A Request for Proposal (RFP) is a formal and structure process where vendors
are invited to respond to your request and submit a proposal. Among
other things, the RFP puts suppliers in direct competition against one
another and puts you, the customer company, in the driver's seat with
respect to getting the right product or service fit and negotiating a
fair price. An RFP is normally used in selecting a supplier
for a Marketing project.
- A Request for Quotation (RFQ) is very similar to an RFP - but is better
targetted at highly defined or
highly standardized products and services. The focus of an RFQ is typically
on price, payment terms and similar contractual and cost items. Normally, this
is used in a manufacturing or construction process.
The RFP Process
Market GoGo will help you create a great RFP and then help you to
manage the RFP process. A typical RFP is created using the following
method:
- Understand your company's mission, vision,
& brand
- Understand the problem or opportunity that you
are trying to solve
- Create RFP project documentation - Project
Charter, Project Workplan, Project Budget
- Create an RFP team - includes your business
experts, and key stakeholders from other areas of your business such as
IT (servers, network, security, development, etc.), finance, purchasing,
and other business teams who will interact with the solution.
- Document detailed requirements including
business functionality, technology, security, project management,
support, and cost
- Add in standard RFP terms like company
information and references
- Peform some level of RFI to ensure coverage of
requirements and to understand relative pricing. Research
solutions and meet with several vendors who may qualify for the RFP
- Determine a list of vendors who will be invited
to propose
- Create a weighted matrix of the requirements
and weight all the requirements
- Define the remainder of the RFP process
- Engage Purchasing, Legal, and other teams
to ensure that the RFP & process is sound
- Compose the RFP document
- Invite vendors to participate in the RFP, and
ensure that appropriate Non-Disclosure Agreements are in place
- Host a vendor briefing session and / or field
questions from vendors
- Receive RFP responses
- Score RFP responses
- Short-list vendors to present
- Score presentations
- Negotiate with the selected vendor
There's a lot there. But, understanding that there is a lot
to do and getting going to get it done is the first step to selecting a
product or service that will deliver you big business benefits.
Contact Market GoGo for
help creating and managing an RFP.
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