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RFP Decision Support
There are times when a treasury manager does not require outside help to manage an entire RFP project but could use additional help at specific points in the process. TIS provides this type of short-term, targeted help for organizations planning for or in the midst of RFP projects.
When decision-support help is useful
- Before the project begins
A company may wish to secure an independent expert opinion prior to beginning an RFP project. This usually entails a review of the current banking structure and the treasury management system, including reviews of account analyses to confirm-or not-the need for an RFP project.
- Before the RFP is distributed
During the preparation phase of an RFP project, the company is faced with several critical decisions: Should it change its internal treasury management system? What services should it include in the RFP? What banks should be asked for proposals? The earlier these decisions are made, the greater the chances for a successful RFP outcome. This is where an outside expert can make an important contribution.
- When the proposals have been received
Reviewing bank proposals is a vital and daunting task. There is a great deal of material to be examined carefully before a thoughtful decision can be made. It is often helpful to an FP team to have outside help to review bank responses and to establish guidelines for decision making.
- Post-selection support
After a bank or banks has or have been selected, agreements need to be negotiated. Some companies like to have an outside expert on call for negotiation coaching or for asking questions that cannot be asked directly of the bank. This type of support is usually done by telephone or e-mail and is invisible to the banking side.
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