RFP & POC

RFP template for procurement savings management solution

This detailed template for RFP will show you all the questions to ask when sourcing a procurement savings management tool. 

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Updated: Jan 31, 2024

One of the reasons behind an RFP can be to collect information from vendors in order to make the best possible decision. 

I will be describing the different features of a solution through a mock-up RFP we created. The solution being sought through this example RFP is a procurement saving management tool.

In this scenario, we are looking for a tool to help our procurement professionals in managing their savings projects.

Though this example is quite specific, most of these questions can be utilized in many other IT-related RFPs.

Download the Excel template here:

 

 

Users and Acess, Role Management

This template is compiled of three columns and multiple rows.

The first column (Requirement) is where our questions can be found.

The second column (Compliance) is where the vendor will give a short, comparable answer, such as "Yes", "No" or "Partly".

The third column (Response) allows for the vendor to give out a more detailed answer as to how their solution will answer your needs. 

The first thing that should be considered is access to the tool in question. The who, how, and where of the tool is something so relevant, you don’t want it to cause disappointments later along the line.

Below you can see an excerpt of our example template.

Picture of RFP Template 1

As you can see, the questions in this part of the questionnaire are simple but critical — you would not buy a house without a door.

In addition to this, you can make life easier for yourself and your co-workers, by having a clear role structure in the tool. 

 

Planning

The next part of the RFP attempts to gain a first glimpse into the functionalities of the tool.

In this section, our example handles the “planning” aspect of the savings management tool.

Picture of RFP Template 2

These are usually questions that have arisen from the teams using current tools, a wish list of sorts. Here you can gain more insights into how the tool would actually work.

As we are diving deeper into the tool’s functionalities, we should pay attention so that we will not mention one requirement twice.

This will save time for both parties involved and give out a more professional image of your organization. 

 

Specifics of the solution

Next, we are continuing where we left off, again going deeper into the specifics of the tool. We are continuing on with the wishlist created together with the users of the tool in question.

Picture of RFP Template 3

The next part of this example-RFP is the “Reporting” function. As you might have noticed, we have moved on in a quite logical manner.

From logging in to the tool to using it and now getting on to how I as a user can get those results out of the system.

This logical way of moving forward, once again, saves time and effort from all parties, as well as gives out a meticulous and professional image to future business partners. 

Picture of RFP Template 4

Even if your organization is as horizontal as your CPO taking a nap, your office is filled with beanbags, and casual Fridays have leaked into the rest of the work week, you still might want some visibility and control into what is being changed in the tool.

Knowing what actions have led to the current situation can help in future troubleshooting!

Picture of RFP Template 5

In our opinion, the most important part of writing an RFP is knowing what you want beforehand. If you do not know what you want, the RFP process can be a total waste of time.

This is why the future users of the tool should be heard before sending out the RFPs, the world of business should have no place for IT tools that will remain unused, I am sure at least your colleagues in finance would agree – After all, a penny saved is a penny earned. 

 

User experience

Finally, you should remember to focus on the user experience of the tool. If the users dislike it, they will find a way to go around it. If there is a will, there is a way.

Picture of RFP Template 6

You can and you should push your service provider to provide a better user experience. Life truly is too short for bad IT tools. 

 


 

This concludes our detailed journey into the RFP process. Remember to download your copy of the template in the form above!

You should note that we did not talk about information security, legal matters, or pricing for example. To get a broader guide on RFP questions and cover letters, read this blog.

 

 

Header image by Taneli Lahtinen (Unsplash.com)

Aku Lehojärvi

Aku is a Head of Sales and Business Development Nordics at Sievo.

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