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Day Translations, Inc.: Professional Request for Proposal (RFP) Translation Services.
Day Translations has a team of certified RFP translation experts for every language. We do translations of RFPs to and from any language. Day Translations, Inc has the experience and manpower to handle large projects in a timely manner with 100% accuracy. We translate thousand of documents per year and our certified professionals will guarantee the accuracy and professionalism that you want to portray as well as the privacy that you should always expect.
Our professional RFP translation services include:
• The translation of RFPs
• The translation of proposals submitted by suppliers
• Quick translations
• Interpretation services- In person or over the phone
All translations are handled by our expert RFP translators and they go through our extensive 5-step verification and accuracy process to ensure you the most accurate translations of your patents or legal documents. Every translation will be proofread and revised to meet our extreme standards. If you need certification of these documents, we also provide professional certifications on all of our documents. With over 19% of the population of the United States speaking another language, all translation services are a necessary tool. Our expert translations will help to clarify all of your doubts.
What is a Request For Proposal (RFP)?
An RFP is a formally written invitation for suppliers to submit a proposal on their services. An RFP describes qualification requirements, performance specifications, time frames, and other requirements as well as ask suppliers to describe how they would accomplish the services, and how much they would charge. This document is most appropriate in situations when it’s necessary to evaluate suppliers based on their qualifications and price.
Other requested information may include basic corporate information and history, financial information (which allows you to determine whether or not the company deliver without risk of bankruptcy), technical capability, product information such as stock availability and estimated completion period, and customer references that can be checked to determine a company's suitability.
An RFP is often done through a bidding process as it is one of the best methods for leveraging a company’s negotiating ability and purchasing power.
Benefits of an RFP include:
- It reduces the risk of obtaining proposals that do not match the needs of the request. The more detailed an RFP is, the better the chances that a submitted proposal will meet those demands.
- It provides structure to the process which allows the risks and benefits to be clearly indentified from the beginning.
- Evaluation of the suppliers based on the creativity and innovation of the submitted proposals, as they are aware of the competitiveness of the process. - Effective RFPs typically reflect the strategy and short/long-term business objectives, providing detailed insight upon which suppliers will be able to offer a matching perspective.
After initial screening, selected bidders may be invited to participate in subsequent bids, or may be asked to submit their best technical and financial proposal, commonly referred to as a Best and Final Offer (BAFO).
To contact one of our certified RFP translators, please click here.
References:
http://www.americanbanker.com/glossary.html?alpha=R
http://en.wikipedia.org/wiki/Request_for_proposal