Tips On Choosing And Making An Effective Request For Proposal.
the process through which a business proposal is submitted by a an agency or company by bidding that’s focused in procurement of a commodity or service or valuable asset, is defined as request for proposal. The way it works is when a business encounters a problem that requires an immediate solution, they request for a RFP wanting someone to respond to their request and provide them with the solution they need.
the variety of information one can get from RFP more than the price request are capability on a technical aspect, information on the product, customer references, financial information, corporate history and information, procurement of services.
Usage of RFP applies when; the proposal requires research and development in creation for the request, in a product or service that does not exist, specialized capability and the request requires technical expertise.
The different roles that the request for proposal plays include; suppliers are informed on procurement opportunities by an organization, suppliers are also alerted on the selection process and the competitive nature, it pushes for specification on the details of the purchase, it ensures that the suppliers respond accordingly to the specifications and requirements, it has allowance for response and wide distribution and should follow a structured method to ensure impartiality.
The main areas where the company dealing with RFP consider is in the imagination, storytelling, the process itself and the strategy the company employs.
Imagination is important pertaining the ability of the company to come up with a solution regardless of whether it is what the customer asked for or the capability of the company to provide that solution.
The company needs to understand its customers, market and competitors well in order to come up with a good plan that will offer the best RFP for them.
Through storytelling one can create a winning RFP which can be done through the complex blend of the plan with facts and information, analytical part of the RFP and visuals to form a convincing argument that is unique as compared to other competitors.
Considerations that help in the delivery of effective RFP’s are; understanding the selection criteria, responding in the correct format, issuing the proposal to the directly involved party, assembling the team members, showing the client why they should choose or go with your company, the response from the RFP company to the clients, competitive nature, financial standing of the company, budget considerations, confirmation that all specifications can be met, reflection of the RFP structure in the response, and fast response time.
Through drafting the RFP, the company can get more businesses on board and sharpen skills in the writing of business proposals.