Speed Sourcing is a new trend that attempts to streamline the process of selecting a vendor. See the recent article in CIO for details. In my opinion, most of the RFPs we receive are not well crafted and do not help associations adequately evaluate and compare potential vendors capabilities and apples-to-apples cost estimates.
Having worked on both sides of the vendor/client table, I can see real value to Speed Sourcing for many technology projects, especially within the association/nonprofit commununity. Some warn of doom and disaster and this could be true for very large (7-figure+) and complex projects, but many times organizations spend more effort on the vendor selection process than they do the actual implementation. Call it what you want...a more effecient and effective process is needed.
Or we could continue to see such ridiculous processes as I have witnessed lately. One example... organization hires vendor to develop RFQ that goes out to large 30+ vendor list who spend considerable effort (read increased overhead) to respond; list is narrowed to six finalist who receive more detailed RFP with "requirements," again developed by vendor who does not fully understand organization or technologies involved; vendors respond again with elaborate proposals; all 6 vendors asked to do 2-hour presentations; final vendor selected based on questionable criteria.
What's wrong with (1) starting with a smaller list of potential vendors, including those with whom you have a trusted relationship and at least one new vendor that comes recommended from peer organizations; (2) discovery meetings with each vendor to discuss relevant experience and expertise with similar projects, proposed approach, and hourly T&M rate; (3) choose partner with detailed SOW for deliverables, milestones, change process, etc.; and (4) get started?
I would be interested in what has worked best for your association in the past and your thoughts on this new approach. Would it work for you?
Tagged: Speed Sourcing RFP vendor selection
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