Through the use of the RFP & RFI, the company would be able to save time which would otherwise have taken several months to generate the requirements of the system. Aside from this the guesswork is usually eliminated while all the software as well as the hardware requirements and support based information is included in the data gathering and collection. The implementation of the RFI & RFP “helps vendors accurately cost development needs and be faster in implementation Achieve better control over solution costs and any required customizations All selected requirements can be compared against existing systems for gap analysis” (‘Best Practices when using RFP Template’)
The Request for Proposal would provide the detailed information pertaining to the requirements of the business, the risks that are to be mitigated as well as the characteristics and the functions of the software solution provided by the vendors in addition to their comments and detailed information that can provide additional data for assessing the compatibility of the systems with the business and its legacy systems.
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