GLOSSARY
RFP and procurement terminology explained
Plain-English definitions of every acronym and term you'll meet in bid, proposal and tender response.
Key Terms
The essentials
The terms most often used loosely. Here's what they actually mean.
Bid Management
Bid management is the end-to-end discipline of qualifying, planning and executing an organisation's response to a procurement solicitation, from opportunity identification through to the buyer's award decision.
DDQ Software
DDQ software automates the workflow for creating, distributing, answering and analysing due diligence questionnaires used in investment, M&A and third-party risk decisions.
Questionnaires
A questionnaire is a structured set of written or electronic questions designed to elicit consistent, comparable information from respondents for analysis or decision-making.
RFP Response Software
RFP response software is a seller-side application for drafting and governing answers to RFPs, RFIs and DDQs. It centralises answer libraries, routes SME review, and tracks approvals through submission.
RFx Software
RFx software is procurement technology that digitises Request for X events. It lets buyers issue RFIs, RFPs and RFQs and lets suppliers respond, clarify and be scored within one auditable platform.
Tender Management
Tender management is the supplier-side discipline of running the full lifecycle of a formal procurement response. It covers opportunity search, bid/no-bid decisions, drafting, compliance, submission and post-award review.
A-Z
Full terminology list
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