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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