Use Our Template to Create Your RFP
From cost to risk, Request For Proposals (RFPs) are an invaluable tool for businesses looking make well-informed decisions. To ensure nothing slips through the cracks while sourcing vendors it’s important that organizations have a deliberate approach to their RFP process. Our tailored Excel spreadsheet template assists with this by providing all relevant information about third-party providers in one place – so you can compare and easily assess each option. With our comprehensive approach to evaluating potential partners your business will be safeguarded against any unexpected risks when selecting its next vendor.
If you want to ensure your RFP gets a stellar response, take the time to craft it carefully – every detail matters when it comes to finding vendors that will meet your expectations and deliver excellence.
Define Your Risk Tolerance and Compliance Requirements
When drafting an RFP for your third-party risk management project, it’s essential that you are clear about your organization’s risk tolerance and compliance requirements. This will help you to identify the vendors that are best suited for achieving your risk management objectives.
Leverage a Combination of Risk Assessments and Vendor Reviews
You can leverage a combination of risk assessments, vendor reviews, due diligence checks, and ongoing monitoring to effectively manage third-party risk, while still maintaining your desired level of compliance. Make sure to include these processes in your RFP so that you can identify vendors that have the right tools and strategies to meet your needs. Our RFP template can help you outline and plan these steps, so you know exactly what you need and how to do it.
Download Our RFP Template
Our RFP template will guide you step-by-step through the whole process, from defining risk tolerance and compliance requirements to leveraging a combination of risk assessment tools and vendor reviews. In addition, our template covers key criteria for the most successful RFPs including:
- Company background, including differentiators and customer experience
- Product scope and capabilities
- Updated list of required regulatory experience
- Essential data security requirements