Master RFP Management
Distributing, collecting and analyzing RFPs (Request For Proposal) are essential aspects of strategic sourcing, tender management and negotiation. Traditional methods of facilitating this process have been time consuming and labor intensive. Typically, the RFP process has involved costly and repetitive steps, paper intensive procedures, and burdensome data collection and analysis techniques. While sourcing decisions require procurement professionals to survey and assess data from multiple sources, they often are forced to cut this process short when administrative constraints inhibit them from collecting and analyzing this data in a timely manner.
During RFPs, the person in charge of managing tenders needs to take several time-consuming steps: selecting suppliers, centralizing and collecting all required information and documents, analyzing and qualifying tenders, tracking each tender’s status, etc. It is challenging to efficiently manage these RFPs, especially when more than one supplier is involved. Each supplier can submit several products for the same tenders, multiplying the amount of characteristics’ information and documents received by a company.
Businesses need tools to effectively manage these tenders. Implementing dedicated tools for RFPs will help them: choose the most suitable product/supplier, easily re-use information and data, and facilitate decision-making.