Do you really need to issue an RFP?
5th August 2014
For any business, making a significant change such as switching reservation platform requires careful thought and planning. At the very outset is identifying a suitable vendor, one that has the necessary skills and approach so you can work with them on what will be a major project. There are a number of ways to select vendors; at one end there are casual processes based on personal relationships, at the other there are more formal Requests for Proposal (RFPs).
Why issue an RFP?
Typically, an RFP sets out to achieve a shortlist of vendors that will be suited to a project and it can also help to establish costs. They are extremely useful for identifying your own requirements and effectively communicating them to vendors, while setting realistic timescales and milestones for the project.
Because they open up the project to a much wider selection of vendors, RFPs are helpful to make direct comparisons between different suppliers, and as you have set the criteria, a benchmark upon which to judge them objectively. In some organisations, where there can often be politics associated with the choice for a new supplier, the RFP process also helps to make the decision more democratic.
By codifying your requirements for your new reservation platform into the RFP, you are also able to garner feedback from the marketplace. Before issuing an RFP, it’s hard to ascertain whether your requirements, budget and time expectations are realistic; good vendors will let you know whether you are being realistic or not, which can help you improve your RFP in a second iteration.
Finally, an RFP if planned and completed effectively is like an internal audit that will give a good understanding of your own business, its short and long term objectives and immediate requirements. This in turn provides a good platform from which to prioritise your needs, so that you can split your project into phases if required.
How do you create an RFP?
Creating an RFP can be a challenge, particularly when you consider the scale of what needs to be covered and the task involved in recording exactly what you would like from a new reservation platform. Here at intuitive however, we have authored a new guide titled “Creating an RFP for a new reservation platform” to help ease the process. Within the guide you will find information on the best approach for vendor selection, key steps for building an RFP and how you can evaluate vendors objectively.
To receive your free copy of the guide, just follow the link below: