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Managing a No‐Fail RFP: Determine Potential ROI

In a previous article, we noted that RFPs are expensive for both the vendor and the client. This heightens your team`s need to have a clear idea of what your firm is trying to accomplish by acquiring a new product or service. StartFragment Is the problem you`re trying to solve worth issuing an RFP? One way to approach better decision‐making is to review the different types of purchases where a competitive selection process is warranted. Replacement of an Existing Commodity Service Whether the Return on Investment (ROI) covers the cost of an RFP for these types of purchases depends upon the on‐boarding and exit costs for the commodity being acquired. It also is important to provide a rational

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