What To not Ask in Your Compliance Software program Vendor RFP

This put up is a part of a sequence sponsored by AgentSync.

Navigating the request for proposal (RFP) course of can really feel like steering by means of a labyrinth. The stakes are excessive, and the complexities are quite a few. Your position calls for not solely making certain that the chosen compliance know-how aligns with the regulatory necessities of what you are promoting, but additionally that it integrates seamlessly with present methods, helps operational effectivity, and provides sturdy information safety.

The normal RFP course of typically consists of outdated questions that don’t essentially tackle the core wants of recent insurance coverage operations or the precise challenges confronted by compliance groups. In case your RFP is just too advanced, you danger lacking the forest for the bushes and diluting the attributes of the assorted softwares and distributors you’re evaluating. If it’s too easy, you possibly can falsely equivocate some very completely different options inside the proposed options.

Skip the RFP drama and obtain our information, “Does Your RFP Must RIP? 10 Inquiries to Retire From Your Compliance Vendor Request for Proposal (And What to Ask As an alternative).”

Tailor your RFP to compliance software program priorities

When you could also be tempted to make use of a generic template for each software program or vendor RFP, this can be a quick path to getting loads of data that isn’t related to the prices and capabilities you’re searching for. As an alternative, streamline your RFP course of by eliminating widespread but out of date questions and changing them with the sort of inquiries that straight tackle crucial elements of right this moment’s compliance software program distributors.

With “Does Your RFP Must RIP?” you may get a really feel for what essential questions could also be going unaddressed in your present RFP, and the right way to dial in your RFP for extra particular and related suggestions. With our information, you’ll be able to be taught:

• Learn how to choose a software program that future-proofs its tech stack…and yours
• Learn how to ask questions that probe how versatile vendor structure is and why that issues to you
• Methods to guage a vendor’s buyer assist (with out a vendor’s rose-colored glasses getting in the way in which)
• Which questions yield essentially the most readability about pricing and whole value of possession
• Learn how to use your RFP to precisely assess a vendor’s information safety practices
• And extra!

Refining an RFP to your compliance distributors

If you guess at what goes into the RFP course of, you get milquetoast solutions that defeat the aim and inevitably result in extra time manually evaluating distributors by crawling web sites, studying evaluations, and interviewing reps straight.

As an alternative, it’s essential forge partnerships that may drive what you are promoting ahead within the digital age. You needn’t solely software program, however the assist that may assist you engender belief together with your distribution companions up and down the insurance coverage gross sales pipeline by making certain correct compliance. You additionally want the operational effectivity that grows your backside line with out rising your bills.

Let’s be clear: The RFP course of isn’t nearly discovering a vendor; it’s about discovering a accomplice who will contribute to your success and progress over the long run.

Arm your self with the precise questions, remove inefficiencies, and determine a compliance know-how accomplice that may meet the advanced wants of your group.

Obtain the information.