Selecting a vendor is no small task. The information required to effectively manage a portfolio of alternative assets requires a diverse array of systems, processes and third party relationships. To address complex processes both flexibly and efficiently, many vendors offer specialized products and services that require careful scrutiny.
And how to maintain the vendor/client relationship? The high energy typically present at the beginning of the relationship often fades when a project slows under the weight of questions and decisions that should have been researched before the proposal. The vendor begins to give more attention to other prospects that are ready to move on and the original client is left dissatisfied.
Fill gaps with an RFI before you write the RFP
Utilizing a Request for Information (RFI) before sending out a Request for Proposal (RFP) helps to fill in knowledge or system gaps up front. An RFI focuses the project sponsors as well as the technology team on the business needs and expectations of a new system, and also provides the details to the vision they should have for this new system. Properly utilized, the RFI is just as necessary as the RFP.
Hipercept helps investors increase the likelihood of a successful vendor selection by:
- Helping to define the goals and scope of the project;
- Investigating vendor solutions that meet key requirements;
- Writing an RFI and an RFP; and
- Coordinating demonstrations of vendor products.