This customizable RFP Template Master contains over 3,810 pre-loaded criteria for selecting master data management (MDM) software system solutions, and utilizes automated response evaluation processes that save significant time compared to RFPs that require manual evaluation and scoring of each individual vendor MDM response item.Click to
Do not use an MDM Software RFP that allows vendors to answer its questions any way they choose!
Vendors prefer to respond with answers designed to makes their proposed software look best, and this poses problems. For example, in response to a question about the availability of a specific MDM function, one vendor might answer with "Yes", while another could answer "In the 4th quarter of next year", while yet another could answer "Yes, with custom scripting". There is no way to automate the evaluation and scoring of such wildly different answers!
The only way these inconsistent answers can be scored is for a human being to manually read each answer, evaluate it, then assign it a score. An MDM system RFP could have over 1,000 questions. Imagine how long it would take to score just one RFP!
This RFP for choosing an MDM platform comes with a software selection toolkit to help select the best master data management software platform based on MDM system suitability, quality, supportability, and financial impact.
Be sure you use an MDM system RFP that also comes with vendor response comparison and evaluation matrices!
Sending the RFP to MDM system vendors is only half the battle. Each MDM vendor's response to the RFP must still be evaluated and scored, a very complex, time-consuming task if done manually. For example, if the RFP allowed vendors to enter their own answers, then many phone calls will be needed to clarify those answers. Once clarified, all vendor MDM software proposals must be compared, then scored for suitability and financial impact. These comparison, scoring, and financial ratio calculation functions must be created by you if not provided with the RFP.
Due to above, some vendors offer online vendor MDM response evaluation and comparison functions, usually at an additional cost. This raises a big question - Why pay extra money just to compare and evaluate vendor responses to your MDM system RFP?
Infotivity RFP templates come with an in-depth MDM Software Selection Toolkit that enables you to quickly easily compare vendor MDM system proposals in detail side-by-side, calculate Weighted Grade Scores for both Suitability to your specific needs and Supportability, and all relevant Financial Ratios such as Payback, ROI, IRR, and NPV!
NOTE: These MDM requirements are updated monthly! Actual screens & questions from this RFP are below to show how they enables you to successfully evaluate and select master data management (MDM) software. Base your MDM software selection decision on the most current features and best practices (not last year's!).
This master data management RFP Toolkit includes everything needed to identify requirements, prepare an RFP, compare & evaluate vendor proposals, and select the best MDM platform, all shown below. Scroll Down or Click
SAVE WEEKS, even MONTHS OF TIME by using 3,810 pre-loaded, professionally written MDM software RFP questions and criteria to communicate your MDM software system requirements quickly and accurately. View pre-loaded MDM requirements category details! ALL industry standard features are addresses!
Pre-defined master data management RFP criteria ensure that important MDM software features are not overlooked. All are in a quantitative format that guarantees vendor responses will be meaningful, consistent, and easy to compare.
NOTE: In order to help you identify your true MDM system requirements, we have included the The MDM Requirements Checklist with Fit-GAP Analysis Matrix in this RFP toolkit. This enables you to identify software, workflow, and compliance needs more precisely, and thereby tailor your RFP to those needs. It and can also provide information useful in prioritizing the fulfillment of those needs.
OBTAIN ALL SELECTION DECISION-MAKING DATA! Unlike others, this RFP template automatically collects the information needed to identify BOTH the AVAILABILITY of needed MDM software features, and their DELIVERY MODE, i.e., HOW those features will be delivered, e.g. through scripting, or a report writer, or some other configuration option. This is very useful in determining the RISK inherent in a vendor proposal, and the Supportability of a proposed MDM system.
SELECT MDM SYSTEM COMPONENTS BASED ON ALL THE FACTS. This RFP template will automatically evaluate vendor response data in a quantitative manner to determine the SUPPORTABILITY INDEX of each proposed MDM software system. This index ranks the potential support problems inherent in each proposed system. It also automatically calculates and compares the amount of ongoing support needed to keep each proposed MDM software system up and running. This measures the true net impact of each MDM system on your business over the long term.
Unlike others, this RFP template can illustrate potential support problems (and risk) inherent in vendor MDM software proposals. The Feature Support Matrix (FSM) used by this RFP categorizes the inherent risk posed for each criteria, and uses that information to calculate the SUPPORTABILITY INDEX for each vendor RFP response. For example, an MDM feature delivered "out of the box" FULLY SUPPORTED is less risky than one delivered through custom programming, even if the programming is free. This RFP template function is useful during both the MDM software selection AND the implementation phases of a large master data management system because it enables effective Earned Value Management (EVM) through detailed cross-referencing of usable MDM software functionality and vendor invoices.
These ensure the proposed master data management software can be fully integrated and utilized to enhance business procedures at all levels of the enterprise.
The ability of the proposed MDM software system to successfully integrate with existng business process workflows, or implement new workflows, is critical to a achieving the high productivity increases and ROI expected of the new MDM system. This RFP Template Master examines all pertinent Workflow features in detail. Select an MDM system platform based on all the facts!
This MDM software RFP template provides an "Enhancement Cost" column for cross-referencing vendor invoices with the estimated cost of each custom script and/or source code modification proposed by the vendor. This makes the RFP an ideal tool for managing vendor invoices effectively. The uses of this are many, some examples are preventing payments to vendors from exceeding usable system progress, preventing vendor over-billing, and prevents proposed tasks from being omitted. An excellent MDM system implementation audit tool!
VENDOR RESPONSE VALIDATION saves time and effort, and reduces errors, when evaluating vendor MDM software proposals.
Vendors must answer each MDM RFP question by choosing from a pre-defined list of possible responses. See below for an example of this drop-down list. This forces all vendors to respond to each master data management software question in a consistent, standard manner. This eliminates the days of time typically wasted trying to compare the inconsistent or incomplete vendor responses obtained by using traditional, non-quantitative RFP questions! This ensures vendor MDM proposals are easy to compare and evaluate, which makes the MDM software selection process much more accurate!
Included with this Master Data Management (MDM) software RFP are the following vendor response evaluation, comparison, & selection tools (scroll down to view all)....
These comprehensive and CUSTOMIZABLE Weighted Grade Point Scoring functions are used to determine how well MATCHED an vendor MDM proposal is to your specific prioritized MDM requirements.
MDM System Response Evaluation Ratios (scores) help you save time.
Select MDM software very accurately using this extensive set of financial ratio calculations to compare master data management vendor proposals quickly and efficiently.
This MDM software evaluation scorecard uses an extensive set of ratio calculations to compare and select vendor MDM proposals quickly and efficiently.
"APPLES-to-APPLES" COMPARISON of vendor RFP responses (proposals) is assured by extensive use of quantitative RFP questions and full vendor response validation. Compare proposed MDM system software features side-by-side faster and more accurately with the fully automated Color Comparison Chart matrix included with this RFP at no extra charge.
These comparison matrices automatically change vendor response cell background color to GREEN, YELLOW, or RED, to reflect how favorable each MDM response is to your needs! Compared to the tedious task of reviewing hundreds of mono-color Yes/No answers, these colored responses allow problem areas to be spotted more easily, and risk assessment is made much more accurate. All required response comparison matrices are included and ready-to-use! Quickly and easily compare master data management software system proposals side-by-side, feature by feature, in detailed comparisons you control! Keep your MDM selection & implementation project on-schedule and under-budget.
AUTOMATED WEIGHTED GRADE POINT SCORING is a quantitative measure of how well a proposed MDM software system fits your business needs and goals, prioritized by the custom weights (importance levels) you previously assigned. This automated graph compares the weighted score for a proposed MDM system against others immediately - there is no need to manually evaluate and score vendor MDM responses as you have to do with other RFPs. Select MDM software faster and more accurately!
Feature Delivery Methods This graph compares HOW each vendor is planning to deliver the proposed master data management (MDM) system. The bars show how much of each competing system is going to be delivered Fully Supported "out-of-the-box", how much will be delivered using the Report Writer, a Configuration table option, or through an embedded 3rd Party product, and how much is dependant on Custom Programming/Scripting.
This information is very useful in terms of identifying RISK, since a Fully Supported (and tested) MDM system feature presents far less risk than that same MDM feature delivered in some other way, such as a custom scripting or programming task or a report writer.
Supportability Index A proposed master data management (MDM) software system could look very good on paper, but once implementation begins the reality could be very different. The ease with which an MDM system can be implemented and maintained over it's expected life is controlled in large part by the amount of custom programming and scripting required to build & maintain the system. The Supportability Index is based on responses to MDM Software System Features, and compares the potential support potentially required by each proposed MDM system.
The Supportability Index is a forecast of how much software support and maintenance may be required to keep each proposed MDM system running at full potential over it's lifetime. This score is determined by how much custom coding is required to implement the proposed master data management software, and which business processes depend on the customized software.
Overall Comparison This graph compares the total Weighted Score of each proposed MDM system along with its Supportability Index and associated Vendor Profile. Use this when assessing the RISK of a proposed MDM system and whether or not the system can indeed be implemented by the proposing vendor successfully. The more custom code, the higher the risk posed by that system. Therefore, the more custom coding, the more MDM expertise and capabilities a vendor should have.
Vendor Profile Scores This graph compares a score measuring the background, MDM expertise, capabilities, and other data collected in the Vendor Global Issues section of the RFP. The Vendor Profile Score provides a way of assessing the Capabilities PROFILE of a proposing vendor.
The backgrounds, expertise, capabilities, and certifications of each MDM software vendor is obtained in the Vendor Global Issues section of the RFP. The vendor responses to this section are totaled separately from the software functionality topics, and this data is used to calculate the "Vendor Profile Score". The higher the score, the more CAPABILITIES a vendor is probably going to be.
MASTER DATA MANAGEMENT COST ANALYSIS - Calculates and illustrates Yearly Savings, Payback Period, Return on Investment (ROI), Internal Rate of Return (IRR), and other software project decision making ratios.
This master data management RFP Toolkit includes a full set of Auxillary Checklists and Full Documentation INCLUDED:
BPE / BPR / WORKFLOW Checklists - Ideal templates for mapping the current "AS-IS" state of an existing MDM process down to the data element level, a time-saving organizer when developing the new "TO-BE" MDM system state, or determining what is required to implement a new MDM process, or preparing for data conversion.
Full Version of risk assessment matrix checklist focused on MDM software acquisition and implementation projects for working sample "Click Here". Be sure your MDM selection project is running on all cylinders!
COVER LETTER SAMPLES - Make the task easier with this MDM software RFP cover letter template collection. Choose from Letter samples designed for all events, such as "RFP Response Request", "Intent to Respond", "No Intent to Respond", "RFP Change Enclosed", "Proposal Rejection" "Finalist Selection", and "Best & Final Offer Request" to meet your unique MDM needs.
the Optimized MDM RFP Guide. Designed to be viewed in a browser off-line, this document outlines the best procedures for creating custom, quantitative RFP questions. Correctly formatted RFP questions are key to successful MDM software selection. Included, also Sold Separately
The MDM System Cutover Checklist Helps Streamlines Implementation! Included, also Sold Separately
MS Word document describing the organization and usage of the MDM System Response Evaluation & Comparison matrices.
MS Word document describing the organization and usage of the MDM Software RFP template.
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Several Toolkit options are available, each assembled to match your current MDM project needs. Each is listed below.
TOOLKIT OPTION #1 -
BUNDLED - Includes ALL MDM System Selection Templates. - Save $149.00!
Purchase and download the Master Data Management Software Requirements Checklist, RFP Template, Vendor Response Evaluation Matrix, and Demonstration Script toolkits bundled. This bundle includes:
If you have any questions please Contact Us.
TOOLKIT OPTION #2 -
MDM SYSTEM RFP TEMPLATE and RESPONSE EVALUATION TEMPLATES ONLY-
Buy just the MDM Software RFP Template and Vendor Response Evaluation Templates described above. This includes the MDM Requirements Checklist with Fit-GAP Analysis, Request for Proposal (RFP) Template, and all Vendor Response (Proposal) Weighted Grade Scoring, Supportability, Comparison Matrix, and Financial Ratio calculation tools. Everything needed to plan your new system, identify your true requirements, prepare a meaningful RFP, and select the best MDM software based on your requirements. This bundle includes ALL the Tools summarized below:
Have questions? Please Contact Us.
TOOLKIT OPTION #3 -
VENDOR MDM SOFTWARE DEMONSTRATION TEMPLATE ONLY -
Buy only the Master Data Management (MDM) SYSTEM DEMONSTRATION TEMPLATE described above. Obtain everything needed to schedule and present in-depth MDM demo scenarios to vendors, all grouped by application/department focus. Schedule different user groups for different demo sessions, as summarized below:
Questions? Just Call or Email Us.
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