RFPs vs. RFIs: What’s The Difference? | The Bid Lab

The world of bidding on government projects can seem daunting! For one thing, there are a myriad of bid document types, and to make things worse, similar or identical document types often have different names or abbreviations, depending on the preferences of the entity that issued them. We’ll break down the differences for you in our latest article.

Modernize Your RFP Process

As public sector contracts become more competitive in response to Covid and evolving technology, the phrase “modern problems require modern solutions” couldn’t be more true. The key to success with the RFP process is investing in technology that’s easy to use and efficient for client communication. With the right supporting technology, all other aspects of…

The Ins and Outs of Marketing RFPs

“The best marketing doesn’t feel like marketing.” — Tom Fishburne, Founder & CEO, Marketoonist Not only is marketing an effective way to engage customers, but it also helps to build a company’s reputation. Additionally, it develops a relationship between customers and the business and boosts sales. But many people don’t know you can develop a…

Improving the RFP Process for Legal Services

In today’s fast-moving business world, corporate and governmental procurement departments are using the Request for Proposal (RFP) process to meet legal and litigation goals. RFPs seeking legal services can be an excellent starting point to increase your firm’s business. First, you have to be aware of who might be issuing an RFP for legal services…

5 Tips and Tools for Creating Amazing RFP Responses

An amazing RFP response can provide additional revenue streams for your business. Are you an expert in your field? Do you know your organization is ready to provide an expert-level product? If so, the world of Request for Proposals (RFPs) is a lucrative ecosystem you can’t afford to ignore. But in this bustling, competitive world…

How to Find and Source RFPs

Finding the right Request for Proposal (RFP) can mark a major turning point for your business or organization. Billions of dollars in contracts are awarded each year through the RFP process, but in such a competitive landscape, it can be difficult to know where to begin one’s search. At The Bid Lab, we’re experts in identifying RFPs that strategically align with our clients’ business goals. If you are trying to find and source RFPs for your organization, here are several tips we’re happy to share.

What Is an RFP?

A Request for Proposal, or RFP, is by far the most common way for the government – and some private companies – to acquire goods and services. When an organization needs a product or service, they may write up and publish an RFP, and ask for qualified vendors to apply in a specified way. Simply put, it’s a document that lays out an organization’s needs and asks for solutions from applicants, who are applying to win the right to complete the project.

Public RFPs vs. Private RFPs: What’s the Difference? | The Bid Lab

Bidding on government and private sector RFPs can be very different experiences for you and your business. Generally speaking, this is largely due to the varying objectives and regulatory requirements of public organizations versus those of private companies. While profit is usually the sole motivation of a private business, public entities have myriad factors to consider.