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Defense in Depth
Do RFPs Work?
May 18, 2023
The podcast discusses the flaws of RFPs, including favoritism and wasted time. Alternative approaches and building relationships are suggested. The importance of understanding buyer's criteria and evaluating RFPs is explored. Two-way communication and building relationships before the RFI and RFP process is emphasized.
27:36
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Quick takeaways
- RFPs should focus on defining problems instead of specific solutions to encourage innovation and diverse approaches.
- Building relationships with vendors before issuing an RFP can lead to better understanding and influence in decision-making process.
Deep dives
The limitations of RFPs and the need for improvement
RFPs have flaws and limitations that make them ineffective in certain situations. Some common complaints include favoring specific vendors, being time-consuming, and not allowing for innovation. To improve the process, it is suggested to focus on defining desired business outcomes instead of specific solutions, allowing for two-way communication between buyers and vendors, and considering diverse approaches to solving problems.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode