Make Bank Selection Faster, Better, and Easier

Using RFPs to select banks and bank services is now standard practice in the U.S. However, companies and banks are overwhelmed by the amount of work involved to do the job right. The new edition of RFP Questionnaires for Financial Services makes this task easier than ever before.

Many companies now choose bank services through their procurement departments. This often means spreadsheets that elicit quantitative answers, but not the qualitative information a treasury manager needs. Banks, inundated with RFPs, have stockpiled pro forma answers to standard questions and prepare proposals by plugging in those answers or marketing-type material.

No one is happy with the status quo. Companies do not get what they need to make good decisions; banks dislike long RFPs that ask about everything as well as having to fit responses into a spreadsheets. Everyone is dealing with too much paper.

Good RFPs = Good Bank Proposals

A solution that benefits both companies and banks is to use the new, fifth edition of RFP Questionnaires for Financial Services by Kenneth L. Parkinson, Raymond P. Ruzek, and Joyce R. Ochs. It gives companies the right questions to ask for the information they need. The questions are based on current industry practice and focus on decision-making specifics. They are designed for short answers, which makes it easier for banks to provide customized proposals. The end result is shorter RFPs and shorter bank proposals—less work with better results.

To make bank selection even easier, this edition includes a variety of credit questionnaires so users can now combine credit and non-credit services into one RFP—a practice that is gaining popularity as banks often link the provision of fee-based non-credit services to their credit granting. The credit questionnaires can also be used as non-binding requests for information (RFIs). Another new section is a set of questionnaires on international treasury.

RFP Questionnaires for Financial Services, fifth edition, by Kenneth L. Parkinson, Raymond P. Ruzek, and Joyce R. Ochs is available by electronic delivery or on a CD-ROM on our products page. All files are in MS Word. Ken Parkinson and Joyce Ochs are available for interviews or for articles about RFPs. Additional materials are available on request.

Treasury Information Services (TIS) works with companies of all sizes, universities, and not-for-profit organizations to make their treasury operations more efficient and to maximize the effectiveness of their working capital ( TIS also produces materials to help financial professionals do their jobs better. Other publications include: Cash Flowing Forecasting: A Hands-on Approach, Cash Flow Templates, Managing Your Cash Position, and Preparing for Treasury Management Certification: A Self-Study Guide, 3rd edition.

Contact Joyce Ochs at (609) 466-2300 or by .