You might think that the process of creating a RFP sounds like a lot of work, but it has definite benefits for your business, and save you time and stress later on in the process, as well as contribute to a better run project overall.
These benefits include:
Creation of a systematic process for selecting vendors
Provides an opportunity to get vendors to justify their services and product at the price they offer
Provides a better understanding of what you need, at what price, and by when
Provides evidence of a fair selection process
Helps create a structure for your project, and provides a basis for the project to help you better stay on schedule and within budget
Ensures you are providing the same information to all parties concerned in the RFP process
Helps you negotiate a better price
Enables you to get vendor feedback on whether any of your expectations are unrealistic, this could be budget, timeframe, or even from a technological point of view
Enables vendors and implementation consultants to better understand your needs so you can ensure you’re getting software that is right for your business.