What do we need to ask vendors?

Questions CTOs ask

What should a technology RFP include?

An effective technology RFP includes: company background and project context, detailed functional and non-functional requirements (prioritized as must-have, should-have, nice-to-have), integration requirements with existing systems, security and compliance requirements, data migration needs, timeline and milestones, evaluation criteria with weightings, pricing structure expectations (per-user, per-transaction, flat fee), SLA requirements, and submission format and deadline. Include a scoring rubric so vendors understand how proposals will be evaluated.

How long should a vendor selection process take?

A well-structured vendor selection takes 6-10 weeks: RFP preparation (1-2 weeks), vendor response period (2-3 weeks), initial evaluation and shortlisting (1 week), demos and deep-dive evaluations with the top 3 vendors (2-3 weeks), reference checks and contract negotiation (1-2 weeks). Shorter timelines risk missing important requirements, while longer processes lose vendor engagement and delay time-to-value. For enterprise purchases over $100K annually, add 2-4 weeks for procurement and legal review.