By François MASQUELIER, CEO of Simply Treasury*
How best to select your suppliers objectively and honestly, observing treasury management principles and best practices. This article goes over the basic rules that you are recommended to follow to make your request for proposals a success. Proper preparation of the RFP ensures a (more) successful project and is a way of avoiding nasty surprises.
Definition of an "RFP"
RFP is an acronym standing for "Request for Proposal". During the procurement process, it is the first stage in which suppliers are invited to submit proposals matching specifications that are drawn up with as much precision as possible. The response to the request for proposals puts the...
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