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Best Practices for Third Party Management PoCs

During a recent Aravo webinar on “Best Practices for Third Party Management RFPs,” I stated that a proof-of-concept (PoC) and/or hands-on pilot is much more effective than the traditional RFP process when it comes to selecting a TPRM solution that will meet your expectations. I wasn’t trying to be contrarian. After 20+ years in enterprise software and participation in countless RFPs, I’ve seen too many clients come back to me two or three years after selecting another vendor through an RFP looking for help in cleaning up a failed implementation – especially in the TPRM space .

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Topics: poc, proof of concept, rfp, request for proposal, best practices

Is Best Practice for RFPs not to Issue RFPs?

The RFP has long been accepted as an “objective” way to conduct vendor selection for purchases ranging from hard goods to complex services. Its often lengthy list of feature/function-oriented questions is considered a means to level the playing field between vendors while demonstrating adequate due diligence. But is it necessarily the best way to buy third party risk management (TPRM) technology?

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Topics: rfp, request for proposal, rfi, request for information, best practices, poc, proof of concept, Third Party Management