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The importance of a successful RFx process

 

Before choosing a P2P implementation partner or a P2P software provider your organisation should ensure that you are aiming for the best possible outcome for your needs rather than just the best in breed solution.

It is important to be willing to have a real conversation about what the products can or cannot do, it is also important not to have a fixed technology landscape in play before you get into the RFI process.

 

Steps for creating a successful RFx process

  • Make sure you have a compelling business case

The business case for implementing a P2P solution needs to be adjusted according to what you are trying to achieve. Procurement needs to be tightly aligned to where the business is going. It is important to know exactly what procurement needs to do to to help accomplish these business goals and then match technology to help.

  • Ask for a demo

Not being able to see what you are paying for can cause you a lot of troubles. To avoid that make sure to get a good live demonstration of the procurement solution you are looking for and see it working in realtime. Have in mind that sometimes you need to change your own processes if you wish to fit into a best in breed solution, bending and changing best in breed tools can have negative impacts on achieving business case objectives.

  • Invest in change management

You can have the best solution in the world, but if you are not willing to invest in change management then it’s a technology exercise without the benefits. The success of procurement solutions, regardless of their complexity, comes down to how it is implemented and the level of change management that is undertaken.

  • Do up front research

When you consider implementing a new procurement software solution it is a good idea to check their existing customers experience through reference calls or visits. This is the same for the procurement consultancy company you may choose for implementation services.

  • Ask relevant questions

The questions asked to the vendor need to be well thought through and varied across multiple departments. Within the RFI it’s important to focus on the business challenges rather than the functional attributes. Ask questions that you can confirm and be sure you understand what the intent behind the question is.

  • Create real life scenarios

Asking vendors to show how they would manage real life scenarios relevant to your business will provide more transparency in how the solution works.

 

To find out more on the value of pre-market preparation, focusing on understanding the business requirements and desired outcomes, prior to starting the RFx process download our “What is the value of the RFx process? Is it worth it?” whitepaper or get in touch with our procurement consultants!

 

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