About us
About RFPmanage
RFPmanage is driven by SPEARHEAD LEADERS, a consulting firm led by a team of seasoned professionals from the Banking, Financial Services, and FinTech sectors. They specialize in fostering business growth through innovative and strategic consulting.
RFPmanage is designed to fully automate the procurement process for technology transformation in Banking and Financial institutions. This data-driven solution addresses a wide range of functional requirements, with data centrally stored and customized to meet the specific needs of each financial institution.
RFPmanage offers multi-level admin and user controls for banks and their vendors, automating the creation of functional and technical requirements across different modules, setting evaluation criteria, managing vendor responses and submissions, and overseeing the final evaluation process. The system operates through user-assigned tasks, a maker-checker workflow, and admin oversight of submissions and evaluations from both the bank and vendor sides. This significantly minimizes data leakage and the uncontrolled distribution of RFP documents, a common issue when using email for circulation.
Salient Features of RFPmanage
The ready-to-use functional requirements are crafted by professionals in the Banking & Financial Services sector and experts in Financial Technology procurement process. These requirements are structured across multiple modules, including Customer Onboarding, Origination Solutions, Core Banking, Lending Solutions, and more, offering a streamlined approach for drafting comprehensive Request for Proposals (RFPs).
Common technical and project-related questions simplify the IT team's tasks by serving as a checklist of requirements.
The bank admin can assign multiple users to specific modules or sub-modules, for drafting and finalizing the RFP. They can define makers, authorizers, or reviewers at two levels across the modules.
Bank users can add, edit, or delete any existing requirements, with an audit trail to track modifications. They can edit the requirement as mandatory or optional. The authorizer can give final approval for the RFP to be shared with multiple vendors.
The bank admin can share the RFP with multiple vendors for their responses. A vendor admin is automatically created in the system, and they can assign multiple internal users to specific modules or submodules for responding RFP.
The vendor query workflow is automated in RFPmanage. Vendor users can raise queries based on specific line item references, which are then sent to the bank admin as a consolidated query. Depending on the module, each bank user can respond to the query and share the response with the vendor admin and users.
RFPmanage allows the setup of multiple evaluation criteria based on factors such as functional responses, provided commercials, number of implementations, site visits, or any other additional criteria defined by the user, with weightage assigned to each item. From a functional response standpoint, scoring can range from "Available," "Partly Available," or "Customizable" for each line item. Similarly, multiple commercial patterns can be created as a checklist with assigned weightage within the commercial criteria.
Users can assign scores to each item, and the evaluation is based on the scores provided by each vendor after RFP submission. The system generates an overall score for each vendor, represented as a percentage, as the final evaluation.
The entire transaction workflow is defined with a maker-checker authorization pattern for both bank users and vendor users.
RFPmanage is a fully automated solution within a secure environment, eliminating the need for physical copies of functional requirements and the evaluation process. The RFP document is not made publicly accessible, as the modules are divided and shared only with the respective users for both banks and vendors. Additionally, protected user logins, password security, and OTP verification via official email help minimize the risk of information leaks.