Timeline of the RFP Process

The RFP process involves several important stages and can take around 3 months for a big company. This section walks you through a suggested structure for the process.


A RFP should maximise your chances of picking the right provider. Initially, you’ll have a set of requirements that you want to filter providers on. However, once you’ve filtered out the obviously bad fits, you will still have a couple of providers that could plausibly be the best one for you. Thus, you’ll want to look at the shortlist in more detail before coming to your decision.

The RFP Process in detail

The table below provides a suggested structure for your RFP. The timings are suggested on the assumption that you are a large company with multiple stakeholders, which will require a lot of planning and a more drawn-out decision-making process. Using this estimated timing, the process should take just under 3 months; however, this could be significantly shorter for smaller companies so feel free to adjust the timescales accordingly.

Stage Day Description
Ask providers to sign NDA 0 You will probably share some confidential information with providers about your company (e.g. projected volumes) in order to get pricing information tailored to you; thus, you should ask your providers to sign an NDA to ensure that you are commercially covered.
Distribute RFP to providers 5 Once the provider has signed an NDA, email them the RFP with a schedule and all the information they need to give you a comprehensive set of answers.
Get confirmation & NDAs from providers that intend to participate 10 Some providers may rule themselves out because they cannot meet the requirements laid out in the RFP. Thus, require providers who intend to participate to explicitly opt in by a certain date.
RFP deadline 30 This is the deadline for providers to submit their answers to you. You should allow a ‘questions’ phase here as well; questions should be submitted to the person leading the RFP process, in a set template, and these questions and answers should be shared with the entire provider list to ensure that everybody has access to the same information.
Internal shortlisting period 50 You will want to run an internal process to shortlist the top 3 providers based on the information you have been given. More detail on this ‘evaluation’ phase is below.
Notify providers whether they have made the shortlist 52 Email providers informing them if they have been selected for the next stage. For those that have, schedule meetings for the next stage, ensuring that you explain who will be attending and what you will be looking for.
Follow-up meetings with shortlisted providers 73 Conduct follow-up meetings with your shortlisted providers. We explain on this page what you should be looking for here.
Decision-making 87 Internal scoring and meetings to make the final decision.
Reference-checking, due diligence and further Q&A 101 Get customer references, perform due diligence on the company, and resolve any final questions with your chosen company.
Communicate final decision 115 Communicate the final decision to your shortlist; commence residual legal discussions with your chosen provider.
‹ View table of contents Next page ›

Latest features

The two most common reasons Direct Debit payments fail – and what to do about it

Direct Debit is the most reliable way to collect recurring payments, but payments can still fail. We've analysed our significant transaction data to identify the most common reasons for this.

How do millennials want to pay for exercise?

Does your billing and payment experience cut it with millennial gym members? We surveyed 1000 millennials and this is what they said.

How to build your new member online journey: e-Guide for membership organisations

Take an in-depth look at 6 key aspects of the online journey for new members, and how you can optimise every step for increased engagement and retention.

View all


Reference guides

View all