The global low-code development platform market is estimated to reach $32 billion by 2024, showing significant growth from 2022’s $22.5 billion. In the US alone, 4 out of 5 companies use low-code platforms for app development. Furthermore, 7 in 10 global organizations consider low-code to be a critical business component.
Low-code platforms can accelerate digital transformation initiatives and significantly improve efficiency across the organization. But to leverage their full capabilities, you need a well-structured RFP to help you find the right vendor. Let’s look at how you can create an RFP template for low-code projects.
A request for proposal, or RFP, is a formal document that outlines a project’s details, requirements, and objectives. It’s used by organizations when acquiring complex goods or services.
An RFP can also evaluate multiple vendors based on specific criteria. It invites vendors to solicit proposals detailing their strategy to deliver the project’s requirements. Before organizations choose a vendor, they must create an RFP to standardize the vendor evaluation process and the proposals. RFP makes it easier to compare different vendors and assess if a particular vendor can meet their project requirements and timeline.
An effective RFP for low-code platforms will include the challenges or problems that an organization faces. It helps vendors understand the project’s requirements, enabling them to determine if they can offer a fitting solution.
An executive summary defines why you need a low-code platform and details the project’s goals and objectives. It also helps vendors learn more about your company, values, and target audience.
When writing the executive summary, use clear and concise language to help vendors understand your project needs and create bespoke proposals. While you can use jargon, ensure the vendors are familiar with it.
For example, your executive summary can look like these:
- We require a low-code platform that will allow us to streamline workflows, help our employees create apps on their own, and optimize business processes with little to no coding.
- Company XYZ is looking for a low-code platform to aid our digital transformation efforts and provide enhanced experiences to our employees and clients.
To help vendors understand your project’s technical aspects, you need to describe your requirements in detail—what exactly it is you’re looking for and what your budget is. You can categorize requirements into three parts:
When evaluating vendor proposals for low-code projects, creating a set of evaluation criteria can streamline the review process and help vendors understand how they’ll be evaluated. Outline the information you need from each potential vendor.
Depending on your requirements, this section may include security compliance measures and privacy protocols, vendor experience in completing other low-code projects, information on their processes, and how they approach the development cycle. When drafting your criteria, ensure these align with your organizational goals.
Standardizing responses in low-code RFPs makes it easier for vendors to provide the information you require. Include key information such as:
For the format itself, you can provide them with tables or use bullet points to separate different sections. Also, ask vendors for supporting documents, customer references, and a formal quotation.
Clear timelines help set priorities. Do you have a scheduled launch date for your project? By supplying this information to vendors, you can assess if they can meet your specified deadlines and accomplish development milestones.
You can set terms for different project stages, such as deadlines for submitting bids, reviewing proposals, and final candidate selection. Tools like project management software can help you organize and track your timeline.
Before evaluating low-code vendors, you need to prepare your vendor selection criteria. You can create an RFP scorecard to help you with this. You will also need to create an evaluation team comprised of stakeholders, executives, or employees whom the project will directly impact.
After scoring and evaluating the proposals, create a shortlist of suppliers. The number of shortlisted candidates will depend on your requirements and the number of qualified vendors. Review the contracts and scope of work for the shortlisted vendors to ensure that all questions and concerns are addressed. When assessing vendors, pay attention to critical factors, including:
A well-crafted RFP for low-code projects is essential to find the right vendor. By creating an effective RFP template, you can save time and optimize the process of selecting your organization's best low-code platform provider.
Ready to create an RFP for your low-code project? Use these tips to help you get started.