In today’s increasingly complex business environment, employing human capital can be overwhelming to keep up with for companies of every size. Navigant Advisory Group works with companies with just a few employees to organizations with thousands of employees.
Navigant Advisory Group offers significant capabilities in the design of very comprehensive requests for proposals (RFPs). Navigant Advisory Group experience allows us to establish very in-depth questions for vendors to respond to, facilitating more complete and concise RFP responses. We provide comprehensive analysis of your business goals and objectives, product/service unbundling, proposal design and consulting services.
Many companies today, particularly in the area of employee benefits, rely on securing competitive bids through the RFP process. The practice has now become so commonplace that several weaknesses have been created in the process:
Unfortunately, utilizing a template approach can lead to a lack of critical thinking that will allow for a thorough analysis and comparison of services across many vendors. The RFP needs to be carefully composed in order to uncover vendor strengths and weaknesses, value-add capabilities, compatibilities with your organization, and to maximize the return you receive from the RFP process.
Navigant Advisory Group has substantial experience in designing RFPs helps achieve a competitive procurement process and provides a customized platform on which to make an informed, balanced decision. Our RFP design process facilitates:
The goal of any relationship is to clearly understand what exactly you are purchasing, what you expect from the vendor and the vendor expects from you, and how much you will pay. It sounds simple enough but RFPs often incorporate sloppy language, omit details, and provide incomplete information that lacks clarity and leaves plenty of room for interpretation, all of which will reduce your ability to fairly choose between vendors and could lead to strained relationship going forward. Any idea that “the details can be sorted out with the vendor later in the negotiation process” seldom results in a positive outcome for the RFP issuer.
A well-designed and intelligently written RFP will provide the tools you need to select the best vendor and ensure an ongoing, valuable relationship. Critical components of the RFP include:
By taking the time to design a robust comprehensive RFP from the start, you are assured of reducing the frustration, time, effort and expense that is associated with clarifying RFP questions, reissuing an RFP, and dealing with post-RFP vendor issues. To reiterate, we recommend that an RFP begin with a thorough understanding and analysis of your business goals and objectives, then carefully draft a precise questionnaire that will maximize your chances of selecting the best vendor that will deliver beyond the scope of your requirements now, and for years into the future.