RFP Response Management

Organizations spend a tremendous amount of time and money issuing RFPs. And on the other side of the table, vendors have very mixed feelings about the process. The prospect of generating new business is tantalizing, but responding to RFPs can be very challenging for a number of reasons including

• Lack of time: RFPs can be very time-consuming to respond to, especially for large or complex projects. Businesses may not have the time to dedicate to responding to RFPs, especially if they are also busy with other projects.
• Lack of expertise: RFPs often require specialized knowledge and expertise that not all businesses have. Businesses may not have the in-house expertise to respond to RFPs, or they may not have the budget to hire consultants to help them.
• Lack of resources: RFPs can be expensive to respond to, both in terms of staff time and materials. Businesses may not have the resources to invest in responding to RFPs, especially if they are not confident that they will win the bid.