As companies seek to modernise opportunity-to-cash processes and boost revenue operations, a well-structured RFP (request for proposal) might be the key to selecting the right CPQ (configure, price, quote) technology and implementation partner.
Here are the steps (and best practices) to take when running an RFP for CPQ technology and implementation services:
1. Clarify objectives & RFP scope
Start by defining whether you’re issuing an RFI (request for information), RFQ (request for quotation), or an RFP. Choose based on your maturity and goal clarity. RFPs suit situations where you’re ready to buy and want vendor-driven solutions, while RFQs are about price only, and RFIs explore the market.
2. Structure your RFP clearly & realistically
Segment an RFP into intuitive sections such as business context, functional requirements, expected vendor capabilities, timeline, budget, and evaluation criteria. Use plain language; avoid jargon that can confuse potential bidders. Set timelines that allow vendors to respond thoughtfully rather than react hastily.
3. Prioritise real-world functional scenarios
Don’t just ask “can you do X?” – ask vendors to illustrate how features work in practical use cases, e.g., configurator maintenance, CAD (computer-aided design) handoff, BOM (bill of materials) generation. This reveals true flexibility and usability, avoiding generic “yes” responses that can hide complex implementation consequences.
4. Use a scoring framework, not gut feelings
Avoid selecting based on slick demos or brand familiarity. Use a structured scorecard that measures critical capabilities including configuration, integrations, usability, support, flexibility, and roadmap. This benchmarked approach delivers defensible, consistent vendor evaluations.
5. Guide & save time with templates
Equip your team with RFP templates and vendor scorecards tailored to CPQ with 50+ key questions focused on functionality, implementation, performance, security, support, and roadmap. This enhances comparability and streamlines evaluation.
6. Inform decisions with peer insights
Benchmark your shortlist against peer-reviewed CPQs e.g. on G2. Top-reviewed technology solutions can definitely offer key signals:
- Ease of use and fast setup – “really quick and easy to set up… training was also a very professionally delivered.”
- Look for vendor evaluation including their configurability, analytics, integration, agentic/GenAI and branded quoting capabilities.
7. Evaluate integration & analytics depth
Best-in-class CPQ platforms integrate seamlessly with CRM, ERP, or commerce layers. They support guided workflows, pricing rules, and branded quoting and also deliver real-time analytics and configurator flexibility.
Let’s tailor your RFP to evaluate not just what vendors and implementation partners can do, but how well they can do it. If you’re ready to get into the details then get in touch.
