The goal of a Vendor Profile is to be able to shortlist your vendors for specific projects. It's the modern day "Rolodex".
Vendor Profiles behave much like RFPs. You craft questions, invite participants, and view results. But these Profiles never officially "close". You can technically set a date you'd like them to respond by, or you can send them a note at the end of the year for example and ask them annually to update their Profiles so you can be assured that you have the most current info on all your Vendors.
ConsultantsIf you are consultant, for example, and you have a client need for Web Design. You can access your previously published Web Design Vendor Profile and review, filter, etc. through the responses and see what vendors can fit your client's needs.
Procurement ManagersThe same holds true for companies with stakeholder needs. If your sales organization needs a CRM and you have been tracking technology vendors, you might have asked the right questions to identify good possible candidates.
Vendor QualificationsOne great use of Vendor Profiles is setting up a questionnaire to qualify vendors. Many companies make new vendors fill out Word forms (we have seen our share). If you setup a simple Vendor Profile with these question, you can easily gather and track the characteristics of your vendors.
There are a variety of uses of Vendor Profiles. If you'd like to discuss, please contact us.
Create a Vendor Profile