The Future of Buying Software?

Future Commerce

If buying software were a cage match, the RFP would be a royal rumble. Dive into the weird world of software buying and the flawed nature of RFPs with Philipp Krueger and Jason Nyhus, as we explore insights from the latest Future Commerce report, "The Honest Truth."

Lies, Damned Lies, and RFPs

Key takeaways:

• “The Honest Truth” report reveals that 81% of merchants expect software implementation to differ from their original RFP expectations.
• Companies value both speed to market and customization, but these priorities are often at odds. Integrating AI into software selection processes can free up time to develop more tailored solutions.
• {00:26:56} “[The RFP process] is flawed to the bone. You're reduced to feature lists. And you just tick off boxes; ‘Can we do that? Can we do that?’ ” - Philipp Krueger
• {00:29:17} “I think AI is going to completely revolutionize the way that we capture requirements, the way that we qualify what's being said in an RFP, and how we do agency and software selection.” - Phillip Jackson
• {00: 30:19} “RFP processes, I think they started in the late 19th century if I remember correctly. So today, we're still running this antiquated process of trying to figure out what vendors can we work with, which is 100 years old…maybe this is the moment that AI changes it.” - Jason Nhuys
• {00:52:10} “I don’t think you should rely on a classic RFP process because all vendors will give you their, quote, unquote, ‘honest truth.’” - Jason Nhuys

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