Request for Proposals are an essential part of a business unless you are part of the UK government who just gives contracts to their mates with no competition. But in the real world, they are a pain and take months, can be very costly and at the end of the process, you cannot be sure that you’ve covered everything and made the ‘best’ choice.
In March 2020 CTMfile covered Treasury Delta’s new and innovative B2B corporate treasury platform for developing RFPs primarily in the areas of cash management and treasury management system (TMS) selection.
Our “OH NO, not another Request for Proposal”, see, which was one of our top 10 posts in 2020.
This was not surprising because Treasury Delta brings important new efficiency and speed to the whole RFP process which is definitely needed in today’s pandemic stressed business world. Some banks have even decided to withdraw from the services world, e.g. Ulster Bank recently announced that they are withdrawing all their banking services from the Republic of Ireland. These Irish companies now have a new problem and it’s not going to be a quick fix as they will have to source new banking partners.
Getting to the right decision
Banks and TMS vendors are constantly changing and improving their solutions with the latest technological advancements. The only effective way to find a new provider and/or benchmark your incumbent against the market to establish best practice is to issue an RFP. This is where Treasury Delta comes into the equation as they deliver a customised platform, depending on the RFP, to each corporate so that the most competitive offers from the marketplace are presented within a single solution.
There are several operational efficiency benefits for banks and TMS vendors involved in the RFP process as the platform presents pertinent data in a clear and concise manner. It also functions as a lead-generating tool for non-relationship banks, TMS vendors, and niche fintechs. Treasury Delta can also work in conjunction with the corporates’ advisory firms so that corporates receive professional advice on the evaluation and selection stage.
Treasury Delta offer on your next RFP project
If you register your interest here, Treasury Delta will discount their fee by 50% for any RFP you transact with them in 2021. They will also make a donation to the charity of your choice given the challenging and stressful times we are all living in.
CTMfile take: Treasury Delta will/COULD save corporate treasury departments time and money in arriving at more effective, better decisions for vital treasury services.
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