28 Apr Killing the RFP: Disrupting the Tender Process
Procurement in the telecommunications world is inherently broken.
Inefficient, complicated, and bloated processes are costing the telco sector more than $1 billion a year in lost productivity and opportunities. According to one report from 2020, RFP models are currently defined by widespread dissatisfaction.
The traditional and complicated request for proposal (RFP) model is still something that many companies use today. However, it’s no longer suitable for the procurement of efficient, agile, telecoms solutions. This model, which involves scores of stakeholders and conversations, can take up to 18 months to complete.
In today’s digitally transforming world, technology evolves at a much faster rate than the traditional RFP could keep up with. By the time the procurement process is over, it’s time to update again.
RFP results in expanded costs, reduced results, and more distrust throughout the purchasing chain. It’s no wonder that people are looking for something new.
Why the RFP Deserves to Perish
Leading provider of global spend management cloud options, Ivalua, shows that supply chain, procurement and finance professionals are spending around 31% of their time dealing with manual, inefficient, or paper-based processes, costing around £1.94 million annually.
The research further shows that the rate of digitisation in procurement is much slower than it should be. Over 85% of respondents consider the RFP procurement methods as being complicated and bloated. At the same time, 97% of companies are investing in technology to digitise procurement. Spending is constantly increasing in cloud-based platforms, data analytics, and artificial intelligence.
Still, only around 45% of procurement processes are widely digitized. The result is:
- Less time spent on strategic tasks (77%)
- Limited ability to automate low value tasks (70%)
- Reduced ability to gain insights into spend (67%)
Lack of digitization is causing serious problems for UK companies, making it harder for teams to focus on the strategic activities that will generate the most value.
It’s time for companies to rediscover the benefits of a procurement process that’s more digitally focused, agile, and adaptable.
Taking a Different Approach
UCAdvisor is a company built to question and reformat the RFP strategy.
By providing a platform where IT teams can compare, shortlist, and co-found Unified Communications and Contact Centre solutions, we can offer the flexible approach to procurement that business leaders and buyers have been searching for.
Digital transformation is no longer a buzzword for any business. To thrive in an ever-more complex environment, companies need the support and assistance of exceptional technology. Digital platforms allowing IT teams to filter through solutions based on their specific criteria is crucial. In the past, compiling similar lists would have taken weeks. With UCAdvisor support, the same results can be achieved in a fraction of the time.
So, how does this process differ from the traditional RFP?
- Streamlining: For most companies following a traditional procurement process, the path to digital transformation is long and arduous. Discovery and use case creation take months. Conversations with stakeholders can extend into years. A digitized environment provides a single, and aligned space where companies can find the information they need to make the right choice. Companies can filter their search according to the things that matter most to them: technology, systems, and people.
- Time saving: An automated system can offer insights based on the criteria that customers set themselves. This removes weeks of tick-boxed based exercises. The platform removes the need for clients to conduct fractured, dispersed, and complicated market research across various vendor sites, alongside removing huge upfront deployment costs.
- Agnostic and independent: Pushy sales tactics don’t speed up the process, they only create more friction. A platform without any underlying connections can help companies to make informed decisions without the confusion. Users get all of the information they need to make confident choices about their providers.
- Budget-saving: Cost barriers are often a major problem when companies are searching for the best technology for their needs. 23% of organizations say that up-front costs are usually a barrier to using better, cloud-based tools for communication. By taking away the CAPEX issue, we allow customers to select the best vendor for their needs without stressing over deployment costs.
- All in one management: Within our platform, you can research, compare costs, book demos, and connect with multiple vendors, all without having to jump between platforms. This takes the 18-month average lead time of processes for procurement all the way down to the absolute minimum.
Helping You to Achieve your UCaaS Goals
The reality is that digital transformation is a must for every company these days. If you haven’t already made the switch to Unified Communications as a Service (UCaaS) for your internal communications, or CCaaS (Contact Centre as a Service) for external connections, you’re missing out. Around 82% of companies who switch to UCaaS exceed their ROI goals.
Most companies are already aware of the potential benefits of using a cloud-based solution. Unfortunately, the inefficiency and complexity of the procurement cycle makes it harder for any brand to take that next step.
As important as innovation might be, companies can only achieve true benefits when they know how to make the right, informed decisions, with the correct resources. The following four-step process will simplify your purchasing strategy, so you can focus on continued growth:
- Shortlisting: Creating a list of notable brands shouldn’t be a time-consuming process. We’ll help you to create the perfect list of must-consider vendors for all of your UCaaS and CCaaS needs. Our platform allows searching with specific criteria that you can alter to suit your needs. Plus, we only give you vendors that meet your requirements, ensuring less wasted time.
- Introductions: Once you’ve identified your short-list of suitable vendors, we can move into the introductions stage. Our team handles the initial meeting setup between you and potential suppliers, so you can collect all of the information you need to make the right decision. After that, you’re free to speak to the supplier directly as often as you like.
- Selection: When you’re ready to make that final choice about the perfect provider for your company, we’ll help you to jump in. If you need any additional guidance, we’re there to help. Alternatively, you can manage everything yourself. It’s your purchase, after all!
- Co-Funding: Once you’ve signed with your new partner, we’ll fund up to 100% of any upfront deployment or implementation for free. We can do this because we leverage a fantastic partner network, which allows us to send savings back to the end-user.
Time to kill the RFP? We believe that the RFP is an old, outdated, and unnecessarily complicated process. It’s time for something new, and we’re here to deliver.