Request for information/ Request for Quotation are documents prepared by companies seeking to invites bids from ERP Vendor. The format for RFI varies from companies to companies, essentially the purpose is to list out the functionality needed in the software.
It is quite similar to buying a phone, imagine if ur friend ask you to buy a good phone for him, this will put you under lot of pressure as you are unsure exactly what to narrow down the list. Compared to your friend mentioning the operating system, camera resolution, price – this will help you suggest few phones to him they he can buy. Many companies with prior erp implementation experienced tries to prepare detailed document by going into nitty gritty to filter out most players. Detailed requirement study are done by implementation team that would be initial scope of document.
A summary on the ERP document contains
Business Information – About the company, structure, geographies, market and customer profile.
Requirement – title, reason, priority, function, timeline, expectation, integration, budget.
Vendor – Details to know vendor experience, legal certification, schedule, reference and financials
Hardware Requirement and Legal clause to comply.
Myth about RFP
Myth – RFP is prepared to assess the ERP Vendor sustainabilty with the project.
Reality – An ERP RFP can also help highlight areas where your business may fall short against ERP system Requirement.
Myth – An ERP RFP focuss only on IT or system based requirement.
Reality – information such as key personnel and customer profile are critical for an effective ERP RFP