August 24, 2016
CNP Expo: Write a Better RFP
May 21, 2014
A request for proposal (RFP) can bring payment providers to a merchant, streamlining the selection process and allowing a company to choose from an array of vendors to find the one that will help sales.
“It’s a very critical part of a company’s processes,” Scott Kimsey of Forte Payment Systems said Wednesday in a panel discussion during the CNP Expo in Orlando. The RFP is the first step in getting the right product.
“With an RFP, you can always save money by leveraging the process,” Kimsey said. “I don’t think there’s a bad time to issue an RFP.” The process gets more people in your company involved, Kimsey said, because “everybody’s going to be touched. People want to be part of the process or they’re not going to be there to help you later.”
The place to start is at the top, he added. Finding an executive sponsor gets everybody involved and levels the playing field for competing interests within a company. When the process begins moving, however, remember that you must follow through.