While a request for information (RFI) provides the high-level information on a product or service from suppliers, a request for proposal (RFP) is the next logical process in the form of a formal request where a supplier or vendor is asked to submit a proposal that demonstrates how a product or service would meet the requirements.
An RFP enables suppliers to demonstrate their product’s USP or any particular feature that might be of special interest to the prospective client. RFPs enable better decisions for enterprises efficiently. There are advanced software suites that makes the process even easier and foolproof.
GEP SMART™ is one such unified software that lets enterprises choose, down to minute details on a case-by-case basis. The RFP software allows users to add senior colleagues as approvers who can sign off an RFP before you send it to the suppliers. It can also add another team as an evaluator to evaluate and score the supplier responses.
Continue to read more about what is Request for Quotation (RFQ)?