RFP for Sustainability

20 Must-Ask Questions on your RFP for Sustainability Project 

Have you been tasked with creating an RFP for sustainability for your department? OR as part of your overall business goal? Worry no more, and welcome to that article outlining why it’s necessary to set one up coupled with sample questions and a free template to get you started. 

But if you are still struggling with outlining or structuring your RFP, check out this article we published a few days ago. 

Now, back to the content of your RFP for sustainability in the banking sector. What is a must on such a document or template which your department sends out to candidates? 

And how can banks and financial institutions write a professional yet excellent and persuasive type of request for proposal? But first things first… 

Why should banks and financial institutions use RFP for services such as sustainability? 

Requests for proposals are regular documents sent to potential contractors and service providers, inviting them to contribute to a new program or system. You could also refer to it as a sourcing project specially crafted out for suppliers to offer creative alternatives to a specific business problem or issue in the financial industry. That being said, check out more about why the RFPs are necessary to issue. 

A. Informs Potential Collaborators 

The principal aim of creating an RFP is to inform your suppliers or potential collaborators about the bank’s new requirements and encourage them to do their best to meet the needs.  

The RFP is specific about what products they need and their budget so relevant collaborators and suppliers can provide the relevant information and bids. 

B. Better and Large Responses 

When banks publicly request bids from several candidates or companies, this request gives them broader and more personalized responses based on their requirements. 

And, of course, encourages these potential suppliers to define and understand all your requirements and be more realistic when presenting a request document. 

C. Effective Planning Method 

Another vital need for RFPs is that it helps organize planning effectively and provide banks an excellent way to handle potential risks for complicated and complex projects.  

This document also gives a better outline to understand the ins and outs of any project at hand. 

D. Competition 

RFPS brings in that sense of competition based on bidding and selecting the best suppliers with the best rates and services. 

What points should banks include in a winning RFP for sustainability? 

Before getting into business or collaborating with any company or supplier, you want to know details about them. Details like their origin, founders, time in the industry, present or past clients, and their services’ price should be included in your RFP. Let’s classify these questions into 8 categories, namely: 

Company questions 

1) How long is your company’s experience in services requested in this RFP for sustainability? 

2) More detailed information about your company (brief introduction) could be attached as a separate file.  

3) Please submit the document acknowledging your company doesn’t have any outstanding tax debts. 

4) Please define, on a general level Data Storage Model by specifying at least if it is On-Premises or Cloud Data Storage. 

Price 

5) What is the total cost of implementation? 

6) What is the cost of each license, including support charges? 

7) In what currency are your prices? Note: (Please specify ALL Other taxes and fees (delivery, support, etc.)  

8) Please describe your proposed price model for both a cloud and a non-cloud solution if possible. 

Security 

9) Have your company adapted your levels of security?

10) How do you manage remote access to the information?  

11) Do you allow employees or contractors to remotely access systems storing or processing our bank’s information? 

Labor 

12) Do you have an individual who handles work environment issues? State their name, title, and contact information in the comments field. 

13) Do you have a safety representative? State their name, title, and contact information in the comments field. 

Supply Chain 

14) Do you follow up on supplier compliance with your Code of Conduct/policies and/or procedures? Please describe in the comments field how you follow up with your suppliers. 

Implementation 

15) Please describe your proposed implementation model. 

16) Is there an initial mandatory implementation project you need to buy alone?  

Experience and References   

17) Please describe at least one reference case related to the scope of this RFP for sustainability

18) Please provide any client reference (Client Name, Contact Person, Title, and Contact Details) using your services. 

Sustainability 

19) Do you have an environmental policy? If yes, please attach it. 

20) Do you have an individual who handles all of your sustainability work? State their name, title, and contact information in the comments field. 

As mentioned at the start, these are sample questions to get you started as you create the perfect RFP template to send out to candidates. 

Always make every question count! Less is often more, and the answers and impressions you receive in these face-to-face or video settings, supplemented by a final reference check, should enable you to bring your entire RFP for sustainability process to a successful conclusion. And of course, in selecting the right service provider. 

For a more extensive template with sample RFP questions, please download it here to simplify and smoothen the entire process for your team. 

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