Requests for proposals or RFPs are very frequently used in B2B procurement processes. Essentially, an RFP involves a business or government entity trying to streamline and standardize its procurement process by requiring all potential suppliers to provide answers to an identical set of questions in order to help the procurement people on the purchasing side efficiently and effectively evaluate their options.
Securing a B2B contract can mean big business for any company; however, for start-ups and small companies, the demands of responding to RFPs can be considerable. It’s not a process to be taken lightly; however, there are some best practices to keep in mind that can help you navigate the RFP jungle. (more…)
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