How the RFP Process Is Changing in the Bussiness Industry

There are several types of RFP process. Naturally, each option has advantages and challenges. Considering all of your options ensures that you make the best decision for your unique project circumstances and needs.

Typically the most affordable option is to find a freelance procurement consultant or a freelancer. In most cases, the consultant has experience working in a specific industry and uses their internal expertise to write RFP process that are tailored to the needs of their clients. One of the benefits of working with them is the focus they bring to your procurement project. Expect them to be a collaborative and service-oriented partner. These freelance and freelance RFP consultants can be found on LinkedIn, Upwork, and in industry publications.

You may already have a connection to RFP consulting services through your existing relationships. For example, Lockton is a large insurance brokerage company that also offers consulting services. So when your clients need new employee benefits, risk management, or retirement services, they can hire an RFP consultant to find the perfect solution.

Due to their deep experience in this specialty area, large companies can shorten the procurement cycle. They do this by prioritizing your needs, offering a shortlist of vendors based on the best matches, and evaluating proposals based on your priorities. Like smaller RFP consulting firms, they use RFP technology to make their process efficient and profitable. With their help, you avoid sifting through dozens of responses from mismatched vendors and search for the best solutions faster. To get started, simply ask your existing suppliers if they provide procurement consulting services.

So what do you get when you hire an RFP consultant? The consultant will begin by exploring your needs and defining the scope of your project. Then they will create the RFP with this feedback in mind. The RFP process will establish scoring criteria and create a list of recommended vendors to include in your search. They will issue the RFP and answer the questions and proposals of the incoming suppliers. Finally, they score and evaluate the proposals to establish a final preselection or recommendation.

RFP Services and Processes:

Throughout the RFP issuance process, the consultant must provide guidance. Not only will they manage the RFP, but they must also act as procurement project management consultants.

1. RFP project plan and schedule
2. Define goals and set scope
3. Collaborative requirements discovery with stakeholders
4. Industry information and recommendations
5. RFP framework and content
6. Scoring and evaluation criteria based on your priorities
7. List of recommended or shortlisted providers
8. Compilation and review of responses to proposals
9. Suppliers evaluation and final selection recommendation.

About This Author

Hridoy Ahmed Joined: December 15th, 2019