RFPs are extremely costly, which translates to only the largest companies being able to submit proposals to do work. Startups and small companies can’t compete because most can’t afford to spend thousands of dollars on a proposal that isn’t likely to lead to any business.
A better alternative is the POV, or proof of value. This eliminates the vast majority of what goes into an RFP, while still providing proof that a project or concept has a good chance of being successful. Learn more about the end of RFPs from this infographic.
Infographic by: info.semarchy.com