What RFPs tell us

Over the last couple of years we’ve noticed clear trends in RFPs that can quite reliably indicate the type of client we will be working with.

We rejoice at the short RFP because it shows us it is an organisation that is thinking outside the box. It tends to be higher level with strategic outcomes ie. ‘We’re looking to achieve X, Y and Z for our customer – how can you help us make this happen?’  These are the RFPs that excite us most. The potential is there to do great things. This is in stark contrast to the 3000 question RFP which describe in micro detail how a product is currently managed.  This means that there is a very real danger that the future core banking solution will be hampered by sticking to the very same business processes that have most likely led to the need for a new core.

To make the most of any new technology it is important to start with what you are trying to achieve going forward, not how to replicate what you already have. Nelson explains more in this video