What Not to Ask in Your Compliance Software Vendor RFP

This publish is a part of a sequence sponsored by AgentSync.

Navigating the request for proposal (RFP) course of can really feel like steering by a labyrinth. The stakes are excessive, and the complexities are quite a few. Your position calls for not solely guaranteeing that the chosen compliance know-how aligns with the regulatory necessities of your corporation, but additionally that it integrates seamlessly with present programs, helps operational effectivity, and gives strong information safety.

The standard RFP course of typically consists of outdated questions that don’t essentially handle the core wants of recent insurance coverage operations or the particular challenges confronted by compliance groups. In case your RFP is just too complicated, you danger lacking the forest for the timber and diluting the attributes of the varied softwares and distributors you’re evaluating. If it’s too easy, you possibly can falsely equivocate some very totally different options inside the proposed options.

Skip the RFP drama and download our guide, “Does Your RFP Must RIP? 10 Inquiries to Retire From Your Compliance Vendor Request for Proposal (And What to Ask As a substitute).”

Tailor your RFP to compliance software program priorities

When you could also be tempted to make use of a generic template for each software program or vendor RFP, it is a quick path to getting a variety of info that isn’t related to the prices and capabilities you’re searching for. As a substitute, streamline your RFP course of by eliminating widespread but out of date questions and changing them with the form of inquiries that immediately handle a very powerful facets of at the moment’s compliance software program distributors.

With “Does Your RFP Need to RIP?” you will get a really feel for what important questions could also be going unaddressed in your present RFP, and easy methods to dial in your RFP for extra particular and related suggestions. With our information, you may study:

• Find out how to choose a software program that future-proofs its tech stack…and yours
• Find out how to ask questions that probe how versatile vendor structure is and why that issues to you
• Methods to guage a vendor’s buyer assist (with out a vendor’s rose-colored glasses getting in the best way)
• Which questions yield essentially the most readability about pricing and whole price of possession
• Find out how to use your RFP to precisely assess a vendor’s information safety practices
• And extra!

Refining an RFP on your compliance distributors

While you guess at what goes into the RFP course of, you get milquetoast solutions that defeat the aim and inevitably result in extra time manually evaluating distributors by crawling web sites, studying opinions, and interviewing reps immediately.

As a substitute, it’s worthwhile to forge partnerships that may drive your corporation ahead within the digital age. You needn’t solely software program, however the assist that may provide help to engender belief together with your distribution companions up and down the insurance coverage gross sales pipeline by guaranteeing correct compliance. You additionally want the operational effectivity that grows your backside line with out rising your bills.

Let’s be clear: The RFP course of isn’t nearly discovering a vendor; it’s about discovering a associate who will contribute to your success and development over the long run.

Arm your self with the correct questions, get rid of inefficiencies, and establish a compliance know-how associate that may meet the complicated wants of your group.

Download the guide.