The process of creating and issuing a Request for Proposal (RfP) starts when there is a realisation in the corporate treasury department that a new solution is required for a corporate treasury problem or issue, e.g. improving cash management in Asia-Pacific.
Effective Requests for Proposals (RfPs) make a difference for both the service provider/bank receiving the request and the prospective corporate buyer by making clear the real purpose of the project under review and the vision for its end results.
There are four stages in the development of a new solution:
i. realising there is a problem requiring a new solution
ii. creating and issuing an RfP to send to chosen system and/or service providers
iii. evaluating and choosing the provider
iv. implementing the new solution.
Creating and issuing an RfP requires considerable internal analysis and research in order to provide the bidders with a clear and concise view of your requirements. This checklist is split into two parts, the first covering the company’s internal analysis and research, which can take considerable resources and time (sometimes several months) to carryout but is a critical to the success of the process for procuring a new solution that will work for your company, and the second the structure and content of the RfP to ensure that the providers/banks understand your requirements and how to respond.
This checklist is intended to guide the corporate treasury department through the key questions to be answered, the issues to be considered and the main actions required in creating and issuing an RfP.
- This item appears in the following sections:
- Cash & Liquidity Management
- Cash & Liquidity Management in Asia-Pacific
- Cash & Liquidity Management in Europe
- Cash & Liquidity Management in Latin America
- Cash & Liquidity Management in Middle East & Africa
- Cash & Liquidity Management in North America
- Cash Concentration in Liquidity Management
- Global Cash & Liquidity Management
- Global Cash Visibility
- Liquidity Risk Management
- Partner Banking & ICM Solutions
- Releasing Trapped Cash
- Releasing Working Capital
- Best Practices & Benchmarking in Operations