1. How to Run a Successful RFP
NICK FREDRICK, W. CAPRA CONSULTING GROUP

2. Overview Introductions Why do an RFP RFP Process Lessons Learned
Panel Q&A

3. Introductions Nick Fredrick (Moderator) Jen Pfaff Casey Zenner
GM, Strategic Business Solutions
W. Capra Consulting Group
Jen Pfaff
Director, Payments
Domino’s
Casey Zenner
Enterprise Sales Executive
Kount

4. Request for Information
Terminology
Type
Term
Definition
RFP
Request for Proposal
Invitation for suppliers, often through a bidding process, to submit a proposal to provide a specific product or service. It is intended to provide the supply side company with the necessary information needed to submit a comprehensive and definitive approach to sourcing.
RFI
Request for Information
Business process used by customers to collect written information regarding the capabilities of various suppliers, which will better inform buying decisions.
RFQ
Request for Quotation
Business process used to invite suppliers to participate in the bidding process for specific products or services. It is a document that is created in order to obtain detailed pricing information.

5. If you don’t know where you are going, you’ll end up someplace else.
- Yogi Berra

6. not every sourcing effort warrants a formal process
When To Do an RFP
General guidelines for when to do an RFP:
High cost of goods/services
Large impact to organization
Longer contract (3+ years)
Market scan is needed to make decision
Don’t underestimate the amount of time, effort and energy to complete the RFP process.
There’s an opportunity cost with the process – commitment and buy-in from management to put the time/resources into the process will pay dividends in the end.
RFPs are time- and resource-intensive, and should be entered into with management buy-in and commitment to the resource requirements and overall process…
not every sourcing effort warrants a formal process

7. Analysis & Recommendation
RFP Process
Preparation
RFP Management
Analysis & Recommendation

8. RFP Process Preparation Project charter Supplier engagement
Define organization drivers and/or guiding principles
Define scope, timeline
Define project governance (roles/responsibilities)
Supplier engagement
Identify suppliers to engage
Identify desired contract terms
Notify suppliers of proposal; complete NDAs
RFP development
Obtain input from stakeholders
Prepare detailed RFP documents
Preparation

9. Components of an RFP Document
Project Background
What / Why
Current/Future State Overview
Narratives, process flows, relevant data
Requirements Definition
Functional, technical, security, financial, service, operations, etc.
Instructions and Timelines
Guidelines for response preparation
Key RFP dates: response receipt, Q&A, onsite presentations, final decision
Base Assumptions and Legal Disclaimers
Anything required by your lawyers

10. RFP Process RFP Management Distribute RFPs Supplier Q&A
Preparation of responses to questions submitted by suppliers
Create scoring model
Weighting of requirements and response elements
Scoring scale and definitions
Proposal response receipt
RFP Management

11. Analysis & Recommendation
RFP Process
Written response scoring
Review and score responses
Solution comparison and analysis
Shortlist identification
Shortlist presentations
Create agendas and scoring model
Hold presentations, complete scoring
Analysis/Recommendation
Final solution and scoring review/analysis
Final supplier selection and notification
Analysis & Recommendation
Distribute to RFPs to suppliers with signed NDAs
Hold supplier Q&A – either done via or in a conference call
Create scoring model to facilitate review, evaluation and comparison of responses
Weighting of the different parts of the responses requirements that will be evaluated and used to make a decision
Can weight each section and/or each individual requirement to ensure those items most critical (to goals/strategy) are weighted highest in the evaluation
Scoring definitions (e.g. 0-5 scoring and definitions of each score)
Response

12. Takeaways Don’t underestimate the time, effort and resources required
Clarity on the current state and future state direction is essential
RFP development often uncovers “unknowns”
How would new supplier integrate with existing ones
Management sponsorship, buy-in, and participation
Clear governance process for escalation and decision making
Including subject matter experts and key stakeholders in the process
Contract phase always takes longer than anyone expects it to

13. Additional Perspectives
RFPs = Supplier Speed Dating
Things to pay attention to:
Initiative, interest and engagement shown throughout the process and quality of responses provided.
Knowledge demonstrated of industry and goals identified
Sales lead is indicative of a company’s culture; but once the sales phase is completed, a new team will be the primary interface
Ways to help mitigate speed dating risk:
Onsite (F2F) shortlist presentations
Request meeting a representative of the implementation and account mgmt teams
Get referrals
Request having input in choosing and ongoing selection of support lead
Quality of responses = completeness, tone, overall quality
Provide feedback to participants not selected

14. PANEL Q&A

15. W. Capra Consulting Group
NICK FREDRICK – GM, STRATEGIC BUSINESS SOLUTIONS
If you have any questions about the presentation, go to our LinkedIn Group (the Payments Education Forum) and request an invitation (this is a closed group specifically for the payments industry)).