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.