Will a vendor answer more RFPs from OpenRFP than through existing channels?
This is not likely in the early stages of a vendor’s cooperation with OpenRFP. As our mutual database sharing and updating is successfully deployed, the vendor avoids duplication costs. An even more important question relates to how successful will the particular vendor become through joint effort with OpenRFP. Economic theory tells us that by increasing the efficiency of the market, we will increase the total size of the market. Therefore, even if a vendor would only maintain its current response/win ratio, it would have more total business, without regard to necessarily increasing the number of physical responses made to RFPs.
Related Questions
- Will a vendor replace its database of information used to answer Bids and other RFPs and reduce its operating costs with increased efficiency using OpenRFP?
- What will happen to the existing loan I have under the current savings plan vendor?
- Who should answer suppliers questions about Requests for Proposal (RFPs)?
