The book, The Art of Creating a Quality RFP, guides leaders in identifying the ideal business suppliers and achieving their exact requirements while optimizing costs throughout the process.
TORONTO, July 21, 2023 /PRNewswire/ – To help organizations define and build a repeatable and predictable request for proposal (RFP) process, global IT research and advisory firm Info-Tech Research Group has released the fourth edition of The Art of Creating a Quality RFP book. Authored by Steven Jeffery and Phil Bode, principal research directors of the firm’s vendor management practice, and George Bordon, global procurement and contracts expert, the latest edition includes a new chapter dedicated to Lean RFPs and numerous updates to the various templates included in the book.
From emerging technologies reshaping industries to shifting market trends and customer expectations, organizations must navigate a constantly changing environment to maintain their competitive edge. In this dynamic ecosystem, identifying and obtaining optimal value from the right business suppliers is more critical than ever. An RFP plays a pivotal role, enabling organizations to articulate their needs, evaluate potential suppliers, and ultimately forge successful relationships.
The Art of a Quality RFP provides a wealth of innovative ideas to generate more stakeholder value for businesses, making it a valuable resource for experienced procurement professionals. The book also serves as a comprehensive introduction to the procurement process for newcomers and as an accessible guide for business leaders at all levels who want to understand the best practice evaluation process for finding the most suitable vendors.
“The fourth edition of The Art of Creating a Quality RFP equips business leaders as well as procurement and vendor management professionals with invaluable tools to navigate the intricacies of the RFP process effectively,” says Steven Jeffery, co-author and principal advisory director of vendor management at Info-Tech Research Group. “By embracing the principles outlined in this edition as well as leveraging the newly introduced chapter on Lean RFPs, organizations can embark on a transformative journey of strategic relationships that drive value, innovation, and long-term success.”
The authors explain in the book that when organizations are faced with choosing a supplier, the best way to ensure a rational decision and minimize future regret is to use an RFP. However, it’s essential to recognize that not all RFPs are created equal, and building a quality RFP uses a sound business process; an RFP is not an event.
“A bad request for proposal is the gift that keeps on taking time, resources, energy, and the ability to accomplish a goal,” explains Jeffery. “A bad RFP is ineffective and incomplete; it creates more questions than answers, and, perhaps most importantly, it does not meet an organization’s expectations.”
The Art of Creating a Quality RFP explains that the purpose of creating an RFP is to receive complete, thoughtful, innovative responses and accurate pricing estimates that are easy to evaluate. For that reason, the authors break down how RFP managers can ensure complete and thorough RFPs.
“When preparing an RFP, the goal is to elicit quality responses that meet all requirements so that evaluation teams can move efficiently to identifying the best solutions and negotiating with the best vendors possible,” says Phil Bode, co-author and principal advisory director of vendor management at Info-Tech Research Group. “Only a quality RFP will get quality responses. Not surprisingly, bad RFPs bring in bad responses.”
Although many reasons keep organizations from issuing good RFPs, The Art of a Quality RFP covers four of the most significant situations:
- Lack of time
- Shortage of resources and team members
- Insufficient requirements
- Absence of a standard template and tools
The book’s authors will be in attendance at Info-Tech LIVE 2023, the firm’s premier three-day, hands-on conference for IT executives who make technology decisions and drive innovation.
Media seeking exclusive commentary from the authors on the topic of RFPs or who are interested in attending the LIVE 2023 event can contact [email protected].
To purchase a copy of the book and learn more about creating and managing quality RFPs, visit the Art of Creating a Quality RFP home page.
About Info-Tech Research Group
Info-Tech Research Group is one of the world’s leading information technology research and advisory firms, proudly serving over 30,000 IT professionals. The company produces unbiased and highly relevant research to help CIOs and IT leaders make strategic, timely, and well-informed decisions. For 25 years, Info-Tech has partnered closely with IT teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.
Media professionals can register for unrestricted access to research across IT, HR, and software and over 200 IT and Industry analysts through the firm’s Media Insiders program. To gain access, contact [email protected].
For more information about Info-Tech Research Group or to access the latest research, visit infotech.com and connect via LinkedIn and Twitter.
SOURCE Info-Tech Research Group
