RFP template for contract software

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If you’re considering a contracts platform, you may want to send your vendors a request for proposal (RFP).

Don’t waste your time and theirs with a 500-field spreadsheet - instead, we’ve created a quick and effective template for you to copy and paste, with all the questions that’ll help you find the solution that’s right for you.

Grab our RFP template here.

For more information on request for proposals, what they’re for and what our template contains, keep reading.

What is a request for proposal?

A request for proposal (RFP) is a request for bids from companies looking to purchase a product or service. Vendors that can address the company’s requests can submit a business proposal to suggest their product as the ideal choice. The RFP process is meant to open up the field to various options that would otherwise not be considered.

What is included in a RFP?

Our RFP template is specifically designed for contract tools, and covers sections including company information, solution summary, self-serve contract creation, contract workflow capabilities, collaborative workflows, counterparty experience, eSignature capabilities, and much more. 

We explore each section in the RFP below. 

Company information

This section covers typical customers that would purchase the solution. This is important - a solution that’s built for enterprise contract management may not necessarily work for startups. RFPs also often request testimonials from existing customers to back up claims and reinforce the pitch.

Solution summary

What are the vendor’s top three value areas? How does the product’s value align with the requirements of the potential customer? This section also covers integrations, company vision, and a deeper dive into the teams that use the product or service.

Self-serve contract creation

When it comes to contracts platforms, being able to self-serve on contracts is often a key factor - in-house legal teams want to enable other teams to self-serve off a predefined template. This section takes a look at self-serve, and how the vendor can enable this within the product.

Contract workflow capabilities 

This section explores the workflow itself, how configurable the workflow is to other areas in the business, whether users can collaborate internally, and so on. It’s also the stage at which vendors will have to explain the mechanics behind the platform’s workflows, approvals, and user access options.

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Contracts on third-party terms

You’ll likely have to deal with third-party paper in your negotiations - so is the contract automation vendor well equipped to handle this? Can third-party contracts be uploaded into the repository? And how flexible are the features when it comes to these documents? This section highlights each vendor’s capabilities when it comes to third-party paper.

Collaborative workflows, negotiation and signature 

This section looks at the negotiation and signature capabilities of the platform - can counterparties redline, make comments, and leave suggestions? Can the platform identify tracked changes from a document redlined in Word and uploaded into the platform?

Counterparty experience

Your colleagues aren’t the only one that’ll be using a contracts platform to agree and manage contracts - your counterparties also need to have a positive experience with the new platform. Does the solution offer flexibility for counterparties to work in the system? What is that user experience like? 

Electronic signature

eSignature is a key component of contract automation, so this section looks at the electronic signature capabilities of various solutions. 

Contract repository: after contracts have been signed, where do they live? Are they easy to find, filter, and organize? 

Implementation, setting adjustments and support: this section looks at the support customers receive when it comes to implementing the product - from trainings, to support times, to the onboarding process, and more

Juro is rated #1 for fastest implementation and best support on G2. Find out more here.

Download our RFP template for contract management here.

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