The second key step in the process is to select a service provider (vendor) who can meet the organization’s bulk payment needs. Clearly identifying requirements beforehand will aid in both selecting a vendor, and communicating needs effectively to vendors during the selection process.
Key Activities:
- Determination of bulk payment system needs
- Documentation of the vendor selection process
- Decision on model (MNO-direct or aggregator)
- Interviewing of vendors
- Vendor due diligence
- Selection of winning vendor and finalizing contracts
Toolkit Resources for Phase 2:
- Sample Business Requirements List
- Sample Request For Information (RFI)
- Vendor Interview Guide
- Vendor Assessment Scorecard
- Guidance for the Determination of Bulk Payment Model (MNO or Aggregator)
- Planning and Executing a Vendor Site Visit
- Assessing Staff Technology Literacy
- Sample List of KYC documentation
- Sample Contract Terms
- Sample Board of Directors’ Resolution
- Phase 2 Full Resources Package (all of the above)
Estimated Duration of Phase: 2 months
Key Learning: Clearly defining business requirements early on helps not only to identify the right vendor but also to define the features and functions that an organizations needs.
