02 Feb 2020
Not sure how to get a price quote for developing your IT startup? Our RFP creation guide will help you. It will help you to understand how to explain your requirements for a future software product and get the most appropriate offer from development companies.
Why do you need RFP?
RFP (Request for proposal) is a document that sets out in detail the requirements and conditions for the development of a digital product, software or service. Thanks to such a simplified technical task, the companies responding to your request will always offer only an adequate timeline, budget, and terms of cooperation that satisfy your goals.
RFP structure: what should be definitely described
Company general information. You need to be presented despite if your business has just begun its journey or you can be read about in all tabloids. A short summary with name, the field of activity, main products or services, and business development priorities will be enough to form an idea about you.
Marketing packaging of a software product. To understand how to develop software or web service, you need to understand why this is done. Describe your goals, objectives, current development status. If you want to collaborate with a company based on a product approach, you need to provide detailed analytics and the data you have. This will allow to jointly generate ideas and seek solutions in the future.
Technical requirements for the software product. The more accurately you describe the conditions for implementing the solution from a technical perspective, the more narrow the time and financial range you will receive in the price offer. To specify the proposal from the future development contractor, indicate the following points as detailed as possible:
- Conditions for solution visualization. Requirements for the design, color scheme, user characteristics of the application or software.
- Functional components of the solution. Describe in the document what product functions should be implemented, which elements are responsible for what, and what requirements you set for these elements.
- The technical component of the project. The most weighty characteristic is the technology stack of the future startup. Whether it will be self-written software or boxed solutions, whether it is necessary to create a product architecture on your own or whether there are open sources for developing related programs. It is important to indicate not only which technologies should be used, but also which are unacceptable in a future product.
The financial component of the project. Each startup has a budget limit allocated for development in advance. Specifying such a range will allow you to receive offers from companies that are able to realize the product you need for the budget you have. This will also save you time for consideration of proposals from companies whose services you can not afford.
Time frames and limitations. Do you need to start in a week and launch the product in release within 3 months? It is important for contractors to know this before starting work. We also recommend you to describe how often you need reports and at what implementation stages the control communication is carried out to track progress.
Terms of cooperation. Tell us how you plan to evaluate companies for the role of an IT contractor, what form of payment do you prefer, how will you evaluate the finished solution. It is recommended that the forms of the contract, risks, obligations, and responsibilities of the parties are indicated in advance.
These are the main recommended points following which a company like Beomy will be able to evaluate the general requirements for a future project and provide you with a cooperation proposal.
If you have already managed to prepare an RFP for this instruction, we are ready to consider it and provide you with suggestions. Contact our manager for a more substantive discussion of project details right now!