A clearly written request for proposal – a document inviting vendors to bid on a specific service or product and tell how they can best meet your needs – will save you time and money. Three things you need to know:

1. Gather information about vendors and develop a short list of three to four. Look at examples of their work, references, experience, reputation, and size of staff.
2. Ask in your RFP for a vendor's corporate history, financial information, technical capability, product information and estimated completion time.
3. Specify how your want proposals to be arranged or written so you can more easily compare. For example, you can require the following sections: executive summary, project stages, quality control, proposed schedule, costs and payments.

Action Steps
The best contacts and resources to help you get it done

Pay someone to write it

You're on a tight deadline to procure a product or service, but you're swamped simply running your business. Outsource your RFP.

I recommend: The Sales Support Center, founded in 1998, provides professional document writing services. On-site teams offer 24/7 support to meet a deadline. The company says it has never missed a deadline.

Use a template to help you write your RFP

By answering questions about your company and what you want, software can help you quickly produce an RFP.

I recommend: CaptureStore.com offers software and templates for proposal writing.Check out its software, "509 Questions to Answer in Your Proposal" that makes sure you've covered your bases. Answer all the questions, and you've got a solid start. Method 123 sells a template that tells suppliers about your procurement process, explains the purpose of your RFP, and gives them the information you need. It includes real-life examples and pre-formatted tables.

Try free RFP templates that you can download

Free templates are available on the Web. If you're really on a shoestring, this option can help you write your RFP.

I recommend: Technology Evaluation Centers offers free RFP templates with a valid e-mail address.

Hire a freelancer to help

Post your project, review multiple bids from experts who have years of experience writing RFPs, then hire online, receive your RFP online and pay online. It's the ultimate Web solution.

I recommend: You can find RFP writers at Elance.com. Prices for outsourcing a writer for RFPs averages $337 with the highest price paid $1,500.

When you need an RFP from software vendors, use a specialist

When it's time to buy software for your company and you need to issue an RFP, check out companies that specialize in RFP templates for software vendors – from accounting software to order processing and inventory management software.

I recommend: Infotivity offers RFP master templates to streamline planning and selection of software. One valuable feature is a weighted grade point scoring system that calculates how well each vendor software program fits your needs. RFP Builder has RFP templates for software selection packages, powered by eBestMatch, the largest software evaluation database in the industry.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  If you aren't sure what you want, call an informational meeting of vendors and ask for suggestions.
• •  Distribute the RFP eight to ten weeks before submission date.
• •  Explain to bidders why they didn't get the job and how they can be more competitive next time.