Does your procurement team struggle to keep track of your RFP response process? If so, you’re certainly not alone. While creating requests for proposals is a necessity for any company wanting to buy goods or services from a third–party vendor - the process is often quite chaotic.
The RFP (request for proposal) process has become a staple of the modern construction industry for procurement teams and construction firms. In the past, many firms relied primarily on their reputation and word-of-mouth referrals to sustain themselves. Not as much anymore…
When sourcing is done right - you wind up with high-quality products or services at a reasonable cost while establishing positive, long-lasting relationships with your ideal suppliers. When done wrong - you could end up with low-grade products at a sky-high cost, driving your prices up as a result.
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RFx processes are a particularly cumbersome aspect of procurement when done manually - especially when you’re dealing with a tight deadline. If your RFI management approach involves sending emails and managing supplier spreadsheets, you can likely attest to that. There’s nothing worse than trying to keep track of hundreds of suppliers that are all on different email threads.
To make it even easier to understand how DeepStream can make running your RFx processes as painless as possible, we have mapped out where we fit in your procurement processes against the globally recognised and trusted CIPS Procurement Cycle.
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