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Creating a Request for Proposal (RFP) or Request for Information (RFI) is an effective way for an organisation to determine its needs. And to quickly obtain answers about software systems and vendors. For medium or larger size organisations, it helps with both short listing potentially suitable systems and the detailed selection process.
The main components of a Request for Proposal or Request for Information are listed below.
When creating a Request for Proposal or RFI, only use the components below that are relevant to your needs. Keep the document format simple ie a standard checklist or template format. The RFI is typically a shorter document that is sent to a wider number of software vendors, to assist with short listing vendors. Whereas the RFP is typically a larger document issued only to a select few short listed vendors.
1. Covering letter
Stating your organisation is intending to purchase a new system and requesting the software vendor to respond to the RFP / RFI.
2. Executive summary
- Summary of your RFP / RFI
- Overview of your business needs
- Your objectives including your reasons for replacing your Accounting, CRM, Payroll or HR system(s), the benefits you want from the new systems and overall project time scales
- Emphasise the most important items
- Key selection steps and dates and when you will inform vendors of your short list / selection decisions
- Confidentiality statement - to ensure that potential vendor(s) keep your organisation’s and your RFP / RFI details confidential
3. Instructions for replying to the RFP / RFI
- Guidelines for the RFP / RFI process
- A written response to your RFP / RFI sent by email or on paper
- Address (physical or email) to which RFP responses should be sent to
- Format of response - using your checklist, template or other software / version / format
- Number of pages for the response - minimum and maximum allowed
- Indication whether you will accept responses which deviate from your requirements specification / RFP
- How you will handle vendor queries
- Contact person at your organisation, to handle any queries
- RFP / RFI response deadlines
- Outline of how the RFP / RFI responses will be evaluated, the criteria used and the evaluation process
- How vendors will be kept informed and of your key decisions
4. Organisation background
- Outline details about your organisation - business sector, turnover, growth, locations, number of employees
- Present systems - software systems, hardware (server / client), operating systems, database, network, LAN / WAN, transaction volumes
- Key staff involved (and their contact details - should you wish for them to also be contacted)
5. Outline requirements for your new systems
- Accounting - general ledger, accounts payable, purchase order processing, accounts receivable, sales order processing, invoicing, job costing, inventory, cash book, fixed assets
- CRM - market research, marketing, sales, quotation and sales order processing, customer support, field support, contact centre, advanced analytics
- Payroll (commercial and public sector), bureau, employee expenses
- HR (commercial and public sector), recruitment, time and attendance / workforce management, absence management, talent management, training, health and safety records, car fleet administration
- System wide requirements - internet / intranet enabled, ESS (employee self service), MSS (manager self service), employee portal, workflow, alerts, document image processing, european monetary union, compliance (Sarbanes Oxley), multi currency / country, windows, enquiry, reporting, integration with other systems
- Systems operations and performance, data processing and controls, security, back up and recovery
- Database, operating system, network, ASP, SaaS, internet / intranet, hardware
- Details of any systems restrictions or constraints you may have
- Estimated quantity, or number of system users or records
- Outline implementation dates
6. Detailed specification of your new system requirements
- A schedule of your essential and desirable detailed systems / software requirements
- Essential / desirable hardware, operating system, database and network requirements
Should you have insufficient information to produce your requirements document, or are unsure whether you have included everything - visit the RFI/RFP Requirements Checklists for Accounting, CRM and HR Payroll. They contain extensive details to assist in identifying and specifying systems requirements, vendor requirements and analysing your organisation background.
7. Commercial information
- Acceptable payment terms, eg linked to achieving project milestones
- Service levels required
- Alternative financing arrangements (if available)
- Your Terms and Conditions
8. Additional vendor information required
- Details of the vendor’s current software functionality which meets your requirements
- Product details - the current version available, projected date for next product upgrade, release date of the original version
- Product demo downloads, DVD’s, literature
- Vendor background, quality accreditations, annual accounts
- Experience of the systems proposed, your business sector and implementations
- Maintenance and support details, options, Service Level’s available
- Implementation assistance and system training
- Reference site details for you to contact
- Outline costs of software systems, database, operating system, network, hardware, implementation, training, annual maintenance and support
9. RFP Disclaimer
- Your RFP is not a contract or offer
- And you have no obligation to contract for the software or services detailed within your RFP
- Any responses you receive, will become the property of your organisation
- You reserve the right to accept or reject any RFP response, and modify or cancel your RFP
- Vendors will not be reimbursed for any costs they incur in preparing their RFP responses
For more RFP information visit: Most important points on RFP / Tips for improving RFP Process / Avoiding poor RFP responses / RFP / RFI evaluation / RFP scoring guidelines / Rating criteria for rfp
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