Vendor selection and management refers to all situations in which an organization works with vendors to provide goods and services. An organization could potentially work with dozens, if not, hundreds of vendors at a time, each with their own unique service offerings, contract terms, pay rates and points of contact. Hartman Executive Advisors offers Vendor Selection and Management services to oversee these processes, and to ensure that your organization chooses the right vendor for your business.
Our Vendor Selection consulting services begin by helping our clients identify their current and future business requirements from both a functional and technical perspective. From there, we will help you document a Business Requirements Document which can be used as a blueprint to screen and select potential vendors based on your business needs.
With strong Requirements Documentation and Vendor Selection Criteria in place, the process of researching and selecting vendors begin. After locating potential vendors, we will send out a“Request for Information” (RFI) to gather basic information from each vendor and then compare them against your pre-established selection criteria. From there we assist you in applying for a “Request for Proposal” or RFP (a highly detailed breakdown of each vendor’s services) while providing you with the needed insight to make informed decisions about choosing which vendors to work with.
Once vendors have been researched and carefully vetted, Hartman advisors will manage the invitations for Vendor meetings and on-site demos, develop a structured ‘Demo Script’ so you can compare vendors on a common footing, and schedule product demos with key stakeholders to ensure that functional concerns are addressed and that sufficient buy-in is established. We will also assist you in final contract negotiation, to ensure that the contract benefits you and that you assess the potential liabilities and risks of working with each vendor.
Once vendors are selected and a contract has been completed, our Vendor Management consultants will provide a variety of continuous vendor management support services which include:
- Testing vendor capabilities, turnaround times and quality of work.
- Evaluating vendor performance and output against pre-established selection criteria.
- Provide feedback to vendors for continuous quality assurance.
- Maintaining relationships with vendors through effective communication.
- Ensure that vendor payments are made on time.
Hartman Executive Advisors are committed to helping our clients get the most out of their vendor relationships. With our strict vendor selection screening and top-tier vendor management services, we will ensure that you get the best value possible from your suppliers, while helping you establish relationships that will lead to substantial savings and long-term gains.