Implement a Proactive and Consistent Vendor Selection Process

Formalize your process to eliminate bias and maximize value.

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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

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.

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.

Implement a Proactive and Consistent Vendor Selection Process – Executive Brief

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.

Guided Implementations

This guided implementation is a nine call advisory process.

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

Book Your Workshop

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

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.

Client

Experience

Impact

$ Saved

Days Saved

Testimonial

Fleet Feet Sports

Guided Implementation

10/10

$12,562

Best - ABCD Requirements, Due Diligence, and guidance on binding vendor RFP responses into the official contract. Improvement - Scoping calls at beginning were necessary, but repetitive. It took a while to explain since we had no process, this seems t...

Bauer Hockey LLC

Guided Implementation

10/10

N/A

There were no worst parts to my interaction with Steven today. Steven & Colin understood my objective and time restrictions and gave me a practical tool that I can use immediately.

National Council on Aging

Guided Implementation

10/10

N/A

DATASENSE

Guided Implementation

10/10

$7,778

XGen Pharmaceuticals DJB, Inc.

Guided Implementation

10/10

$26,103

It was the exact right level of detail. Not too much. Not too little. For a small company, this approach works better when we can scale back the complexity. I'm always impressed by the analyst's follow-up and Steve was no exception.

Redwood Living

Guided Implementation

8/10

N/A

Trinity Wall Street

Guided Implementation

10/10

N/A

oOh!Media

Guided Implementation

8/10

N/A

Ontario Pension Board

Guided Implementation

10/10

N/A

Centura Health

Guided Implementation

9/10

$2,546

Scott's knowledge of the tools and his willingness to walk me through what they contain.

Renown Health

Guided Implementation

9/10

N/A

Scott's response was great and he offered options for the team to consider that are more cost effective. We have decided to delay this project so we can continue researching these other options.

St. Lawrence County

Guided Implementation

8/10

$12,733

All good. Great insight, kept me focused and organized.

Guardian Shared Services Limited

Guided Implementation

6/10

N/A

John was knowledgeable on the topic

Town Of Oakville

Guided Implementation

8/10

N/A

This was the best call so far with Info Tech. Very good insight into creating and evaluating RFPs. I took a ton of notes and will refer back on my next RFP. thanks!

Dentons Canada LLP

Guided Implementation

3/10

N/A

Illinois Tool Works

Guided Implementation

6/10

$1,018

good dialog. helpful with Info_tech site. good information for consideration

John Wiley & Sons, Inc.

Guided Implementation

8/10

$63,667

N/A

John Pinard was very knowledgeable and provided several valuable suggestions. There were no negative experiences.

Canada Border Services Agency

Guided Implementation

6/10

N/A

very knowledgeable -the SME was able to tailor the talk to a "Public Sector" reality

McGraw-Hill Education

Guided Implementation

3/10

N/A

More of a level set meeting to understand the current pain points observed. This meeting show the value of resources available to me through this subscription.

Renown Health

Guided Implementation

8/10

$127K

Scott provided valuable insight into Kronos pricing and suggestions on how to approach them with our requests.

Interswitch Limited

Guided Implementation

8/10

$12,733

Best: Got price review

St. Lawrence County

Guided Implementation

10/10

$6,366

No bad. David is a consummate professional and is walking me through what I need to do for this RFP. It would not get done if not for his involvement.

Takasago International Corporation (U.S.A)

Guided Implementation

9/10

$81,290

This was a great experience to improve and improve our IT procurement! Great benefit to my organization.

Department of Citywide Adminstrative Services - New York City

Guided Implementation

2/10

N/A

Not much help.

The Institute of Professional Practice Inc

Guided Implementation