Request for Proposal (RFP) response evaluations will help you to find the best vendor for your next project. These five steps are an evidence-based approach to vendor selection. It is a transparent and collaborative model that helps the evaluation teams to objectively examine the proposals and so select the best one.
Following these steps will allow you to choose the best partnership:
- Assemble Team Create a diverse team of experts from relevant departments for objectivity
- Review proposals Independently review and evaluate submitted proposals to eliminate group biases
- Demos Choose vendors for demos or presentations based on input from your whole team
- Final evaluation Minimise policies and objectively evaluate to select the best vendor for your RFP
- Award contract Discuss and prepare for negotiation as a team for increased buy-in and alignment
We hope you found these vendor selection strategies helpful, in addition to this process, there are three key areas companies use when considering a new vendor. Find out what these are by downloading the “How to Select a Vendor” White paper by Bloor today.