Question

Company XYZ wishes to start offering direct deposit to its employees. Which of the following methods best describes the process of inviting providers to bid on the costs to provide direct deposit?

A) Request for Proposal (RFP)

B) Internal Assessment

C) Competitive Analysis

D) Cost-Benefit Analysis

Answer 1

The best method to invite providers to bid on the costs to provide direct deposit is a Request for Proposal (RFP).

Step-by-step explanation:

The method that best describes the process of inviting providers to bid on the costs to provide direct deposit to employees is Request for Proposal (RFP). An RFP is a formal invitation that outlines the company's requirements and asks potential providers to submit a proposal detailing their solutions and costs. By using an RFP, Company XYZ can ensure a fair and competitive bidding process, allowing them to evaluate different providers and choose the one that best meets their needs and budget.