Friday, May 1, 2015

Vendor Evaluations with Contract Management Software

It makes no difference what business you are in, vendors play a key role in your organization’s success!

Sample Vendor Questions from Contract Guardian
Having a process in place to track and evaluate vendor performance is essential.  You can leverage the unlimited number of user defined fields and field sets to create your vendor evaluation checklist. Contract Guardian will automatically send email notification for when it is time to perform the evaluation. It is recommended that you create specific performance criteria for tracking and evaluating your suppliers and vendors on a regular basis—monthly, quarterly, and/or annually. Evaluations are not going to always be the same.  Perhaps you might have one for critical and another for non-critical.

With Contract Guardian Reports you can:

  • Report
  • Score
  • Compare 
  • Notify
 In addition, you can download the report Excel as well as email the report.  Some clients send the report to the vendor to show them exactly where they need to improve if they wish to be their preferred vendor.   At some point you will need to decide when to issue a Red Flag.  By giving a vendor a warning, you offer them an opportunity to resolve the issue.  Provide them details so that it is crystal clear.  Accelerate your review of that vendor and if they don’t respond, cut them loose.

Learn more about Contract Guardian by calling 513.977.4544 or request a demonstration

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