Evaluation & Award

Evaluation and Award are among the most sensitive stages of the procurement cycle. The right systems and processes can drive best value and help you manage risk.

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Tailor the evaluation process to match risk or complexity
Automatically notify bidders of RFx outcomes
Pass the winning bid to your contract management system

With its easy-to-use Policy Guide, VendorPanel can direct buyers to use the most appropriate evaluation process based on factors like value and risk. Your policy might dictate that a simple, documented decision is sufficient, that a matrix be used, or that multiple parties provide input.

The procurement team has full visibility of buyers’ and evaluators’ actions, and a full audit trail of the decision-making process. Supplier notifications and contract preparation can be automated, allowing you to focus on strategic tasks.

Evaluation of responses can be as simple or as structured as each sourcing event requires. In complex or higher risk cases, multiple internal and external evaluators can assess responses against set weighted criteria.
The platform can automatically notify successful and unsuccessful bidders, and buyers have an option to provide rationale and feedback to respondents.
Specific team members or consultants can evaluate particular aspects of responses, giving a weighted consensus score. This can be mapped against cost to show the best value options.