Prep Briefs Framework for RFPs & Sourcing

Quick answer: A Prep Brief is a structured document that helps you prepare for negotiations in RFPs and sourcing. It ensures clarity, alignment, and strategic thinking before entering discussions.

Understanding Prep Briefs in the Context of RFPs and Sourcing

In B2B negotiations, particularly during RFPs (Request for Proposals) and sourcing processes, clarity and preparation are key. A Prep Brief serves as a comprehensive guide that helps teams align their objectives, strategies, and key points of negotiation. It can streamline vendor selection negotiations by ensuring that all stakeholders are on the same page.

What is a Prep Brief?

A Prep Brief is a document that outlines critical negotiation details, including:

• Objectives: What you want to achieve.
• Key Stakeholders: Who is involved in the negotiation.
• Relevant Data: Market research, pricing benchmarks, and historical data.
• BATNA: Your Best Alternative to a Negotiated Agreement.
• Key Messages: Important points to convey during the negotiation.

The Prep Brief Framework for RFPs & Sourcing

Step 1: Define Your Objectives

Clearly outline what you want to achieve through the RFP or sourcing negotiation. This may include cost reductions, improved service levels, or enhanced partnership terms.

Example: In a recent sourcing negotiation for IT services, the objective was to reduce costs by 15% while maintaining service quality.

Step 2: Identify Key Stakeholders

List everyone who will be involved in the negotiation process. Ensure that each stakeholder’s interests and concerns are acknowledged in the Prep Brief.

Example: Stakeholders may include procurement managers, finance teams, and department heads.

Step 3: Gather Relevant Data

Collect all necessary data to support your negotiation. This includes:

• Pricing benchmarks
• Historical performance data of vendors
• Market analysis reports

Example: For the IT services negotiation, you could gather data from previous contracts, competitor pricing, and service performance metrics to support your case.

Step 4: Define Your BATNA

Understand your alternatives if the negotiation does not go as planned. This will empower you to negotiate from a position of strength.

Example: If the primary vendor does not agree to the terms, an alternative option could be to engage a secondary vendor who has previously offered a competitive price.

Step 5: Craft Key Messages

Outline the essential points you want to communicate during the negotiation. This will help maintain focus and clarity.

Example: Emphasize the importance of cost reduction while ensuring that service quality does not decline.

Template: Prep Brief for RFPs & Sourcing

| Section | Details | |----------------------------------|----------------------------------------| | Objectives | | | Key Stakeholders | | | Relevant Data | | | BATNA | | | Key Messages | |

Scenario: Negotiating IT Services

Let's say you're negotiating with a primary vendor for IT services. Your company’s historical expenditure is $100,000 annually. Your goal is to achieve a 15% reduction in costs.

• Current Offer: $100,000
• Target Offer: $85,000
• BATNA: Engage a secondary vendor who has quoted $90,000 previously.

During the negotiation, you present your findings from the Prep Brief, emphasizing your objectives and the data supporting your request for a reduced price. You can leverage your BATNA to negotiate more effectively, knowing you have a fallback option.

AI Prompts to Practice

Learn more about our AI negotiation co-pilot.