Get Instant Access
to This Blueprint

Vendor Management icon

Implement a Proactive and Consistent Vendor Selection Process

Formalize your process to eliminate bias and maximize value.

  • Vendor selection is politically charged, requiring Procurement to navigate around stakeholder biases and existing relationships.
  • The process is time consuming and often started too late. In the absence of clarity around requirements, it is easy to default to looking at price instead of best fit.

Our Advice

Critical Insight

  • Rooting out bias is essential. Establishing a robust, ruthless, but reasonable process is vital to making unbiased vendor selections.
  • Price comes last, requirements come first. Spend time up front to make sure that your key requirements are complete before proceeding with vendor selection.
  • Differentiate business needs from wants. Comparing proposals against each other leads to confusion. Features matter – just not all of them. Matching solution capability to organizational needs matters more. Know your true minimum mandatory requirements vs. nice-to-have features, and compare proposals against your RFP instead of against each other.
  • Price is not cost. Calculate TCO when considering internal and external cost.

Impact and Result

  • Design a procurement process that is robust, ruthless, and reasonable.
  • Take control of vendor communications: set and enforce clear guidelines around contact.
  • Gather a solid set of requirements and make sure they remain the primary focus.

  • Implement a Proactive and Consistent Vendor Selection Process

    Start here – read the Executive Brief

    Read our concise Executive Brief to find out why you should optimize your vendor selection process, review Info-Tech’s methodology, and understand the four ways we can support you in completing this project.

    1. Establish and formalize process

    Map your current vendor selection process, identify gaps, and then amend and document the process.

    2. Gather requirements and write RFx

    Begin a specific vendor selection by writing a project plan, then gathering and prioritizing requirements. Next, select, write, and publish your RFx.

    3. Evaluate and select vendor

    Select your evaluation method and framework, then perform due diligence and evaluate pricing. To finish, select and recommend a vendor.


    Member Testimonials

    After each Info-Tech experience, we ask our members to quantify the real-time savings, monetary impact, and project improvements our research helped them achieve. See our top member experiences for this blueprint and what our clients have to say.

    10.0/10


    Overall Impact

    $12,399


    Average $ Saved

    5


    Average Days Saved

    Client

    Experience

    Impact

    $ Saved

    Days Saved

    Fleet Feet Sports

    Guided Implementation

    10/10

    $12,399

    5

    Bauer Hockey LLC

    Guided Implementation

    10/10

    N/A

    20

    National Council on Aging

    Guided Implementation

    10/10

    N/A

    N/A

    DATASENSE

    Guided Implementation

    10/10

    $7,778

    10

    XGen Pharmaceuticals DJB, Inc.

    Guided Implementation

    10/10

    $26,103

    10


    Onsite Workshop: Implement a Proactive and Consistent Vendor Selection Process

    Onsite workshops offer an easy way to accelerate your project. If you are unable to do the project yourself, and a Guided Implementation isn't enough, we offer low-cost onsite delivery of our project workshops. We take you through every phase of your project and ensure that you have a roadmap in place to complete your project successfully.

    Module 1: Establish Vendor Selection Process

    The Purpose

    • Document and refine your vendor selection process.

    Key Benefits Achieved

    • Formalized vendor selection process.

    Activities

    Outputs

    1.1

    Map current process.

    • Documented current vendor selection process
    1.2

    Identify gaps in current process.

    • Gap analysis of current vendor selection process
    1.3

    Amend and document process.

    • Formalized and amended process

    Module 2: Gather Requirements

    The Purpose

    • Write a project plan and gather requirements.

    Key Benefits Achieved

    • Gathered and prioritized requirements.
    • A clear project plan.

    Activities

    Outputs

    2.1

    Write a project plan.

    • Proposal Evaluation Tool
    2.2

    Gather and prioritize requirements.

    2.3

    Write your scenario and use cases.

    • Scenario Template

    Module 3: Write and Assemble RFx Package

    The Purpose

    • Learn about different RFx options and draft a successful RFx package.

    Key Benefits Achieved

    • Complete RFx package.

    Activities

    Outputs

    3.1

    Review different RFx options.

    3.2

    Draft RFx.

    • RFx package
    3.3

    Make a plan for soliciting feedback and publishing the RFx.

    Module 4: Perform Due Diligence

    The Purpose

    • Perform due diligence on candidate vendors.

    Key Benefits Achieved

    • Crucial information and data points gathered about candidate vendors
    • Due diligence completed.

    Activities

    Outputs

    4.1

    Customize a vendor reference script.

    4.2

    Reference Script Template

    4.3

    Review the due diligence checklist and key activities.

    • Due Diligence Checklist

    Module 5: Evaluate Candidate Solutions

    The Purpose

    • Evaluate your vendor proposals.

    Key Benefits Achieved

    • A selected vendor to recommend to management with a formal presentation.

    Activities

    Outputs

    5.1

    Calculate TCO.

    • TCO Calculator
    5.2

    Evaluator’s Guidebook

    • RFP Vendor Response Template
    5.3

    Prepare final evaluation.

    • Proposal Evaluation Tool or Pugh Matrix
    5.4

    Prepare presentation for management.

    • Vendor Recommendation Presentation

    About Info-Tech

    Info-Tech Research Group is the world’s fastest-growing information technology research and advisory company, proudly serving over 30,000 IT professionals.

    We produce unbiased and highly relevant research to help CIOs and IT leaders make strategic, timely, and well-informed decisions. We partner closely with IT teams to provide everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.

    Member Rating

    10.0/10
    Overall Impact

    $12,399
    Average $ Saved

    5
    Average Days Saved

    After each Info-Tech experience, we ask our members to quantify the real-time savings, monetary impact, and project improvements our research helped them achieve.

    Read what our members are saying

    What Is a Blueprint?

    A blueprint is designed to be a roadmap, containing a methodology and the tools and templates you need to solve your IT problems.

    Each blueprint can be accompanied by a Guided Implementation that provides you access to our world-class analysts to help you get through the project.

    Need Extra Help?
    Try Our Guided Implementations

    Get the help you need in this 3-phase advisory process. You'll receive 9 touchpoints with our researchers, all included in your membership.

    Guided Implementation #1 - Establish and formalize process
    • Call #1 - Map current process
    • Call #2 - Identify gaps in current process
    • Call #3 - Amend and document process

    Guided Implementation #2 - Gather requirements and write RFx
    • Call #1 - Write a project plan
    • Call #2 - Discuss and prioritize gathered requirements
    • Call #3 - Review your RFx before publication

    Guided Implementation #3 - Evaluate and select vendor
    • Call #1 - Select evaluation method and framework
    • Call #2 - Review due diligence activities
    • Call #3 - Review and validate vendor selection

    Contributors

    • Deepak Bansal, Director Vendor Performance Relationship Management, Willis Towers Watson
    • Donald H. Hopkins, Adjunct Assistant Professor, Wright State University in the College of Business
    • Daniel J. Enneking, Founder, Strategic Procurement Partners
    • 2 anonymous contributors
    Visit our COVID-19 Resource Center and our Cost Management Center
    Over 100 analysts waiting to take your call right now: 1-519-432-3550 x2019