Understanding and controlling the RFP process in order to choose the right TEM provider is the 80th reason to go beyond Telecom Expense Management and manage your Enterprise Digital Footprint.
Going Through an RFP Process
This isn’t Matthew’s first rodeo. He knows exactly how long and complicated an RFP process can be. Matthew is an IT Director in a company that employs over 10,000 employees.
During his first purchasing of a TEM software, it was hard for Matthew and his team to tell the difference between the various vendors, and to choose which one was more appropriate for their company. They had to analyze all the vendors’ bids by continuously asking questions about functionalities, security, access, the company’s features, etc., and ultimately choose the best one. However, after going through all bids, they felt like they all were the same, more or less. This was a long and complex process that didn’t even give them a clear answer in the end. Today, the company wants to change their software so that the new platform better reflects their business goals. To do so, Matthew knows he has to review his RFP process, because it’s the best way to make sure that the platform truly meets the company’s needs. And the long RFP process starts all over again…
Although now, after his first tedious experience, Matthew had done research to consolidate his RFP process. He’s now more than ready to launch the process. Matthew was greatly inspired by the AOTMP best practices for a successful RFP process. Here’s what he should expect:
- Planning: This phase is to establish the objectives based on the current and future requirements of the company. It’s also at this time that you need to form a group responsible for the RFP process. This group should include people from the IT, provisioning, finance, sales, legal and security departments. You’ll also start looking for potential providers that meet your technical, operational and financial objectives.
- Developing the bid solicitation: This is where you’ll build your bid solicitation, with all of its content.
- Sending and analyzing the RFP: This is pretty straightforward: you send your RFP to all potential providers, and once they send it back, you analyze their proposals by attributing a score to each response based on the importance of certain criteria. You can do it with a weighted average. It’ll all depend on your company and its needs.
- Final selection: It’s now time to choose the provider you want to do business with. You also need to inform the other finalists of your choice.
By mastering these four steps, you can control the RFP process. You and your team must determine a plan before jumping right into the content. There, now you and Matthew know what a complete RFP process looks like.
A Game-Changing Bonus, from Cimpl
Matthew is not the only one who has to deal with a cumbersome RFP process. Chances are, if you’re reading this, you’ve probably experienced this situation as well, or you’re trying to avoid it. Of course, we have a solution for you.
We’ve come up with around 90 additional questions, the answers to which should help you differentiate providers and their offers. These questions go over many subjects, from financial stability to change request management through ongoing training and platform updates.
With all of this information, you‘ll be able to build a solid RFP process that will allow you to find the best partner for your business and needs. And who knows, it could be Cimpl!
If you have questions or if you need help to find your way through the RFP process, contact us!
Written by: Charles-Olivier Payette