Write an RFP That Gets You What You Want

Writing an effective Request for Proposal (RFP) in the receivables industry isn't an easy undertaking even for the seasoned writer or professional.

• The level of detail is complex
• The areas to cover are many
• Mastery of the industry-specific language is key to conveying the significance of the challenges you’d like to overcome and the opportunities you’d like to realize.

Keys to a good RFP include:

• Requesting specific information in a consistent format
• Facilitating easy side-by-side vendor or product comparison
• Eliciting the information required in a way that encourages accurate evaluation and comparison of vendors
• Clearly clarifying your priorities, but not being so detailed you get lost in irrelevant information

Done properly, a strong RFP for a collections platform will lead you to a provider that improves your business and benefits your bottom line.

We've been through the process many times over and although the terms and technologies are slightly different and unique to every organization, this RFP outline is a strong collections and accounts receivable management template.

The information it requests is essential to identifying the receivables management solution that will best meet your needs.

To learn more about creating an effective Collections and Accounts Receivable Management (ARM) RFP, call us at 800.222.1722.