Vendor Evaluation and Ranking

Vendor Proposals

  Evaluating and ranking vendor proposals has historically been a very painstaking, time-consuming task.  Outsourcing proposals are often hundreds of pages long, and are notoriously difficult to normalize and compare.  Some of this complexity can be reduced with clear, comprehensive RFP instructions.  But even when vendors follow the RFP instructions, most outsourcing clients lack an objective, straightforward framework for evaluating proposals. Here are some sobering facts about this step of the outsourcing process:

• Vendor proposal evaluation typically requires many weeks to complete
• A single vendor proposal can take more than 100 hours to review and score
• Almost all vendor proposals contain unrealistic or statistically invalid claims
• The majority of outsourcing clients are dissatisfied with their vendor.

Despite all the time and effort devoted to vendor selection, the result of outsourcing remains disappointing for many.  One of the key failure points in outsourcing continues to be vendor proposal evaluation and ranking.  Sounds pretty bleak!  But there is a structured approach to managing this process that allows you to evaluate and rank vendor proposals fairly and objectively, and do so without spending hundreds of hours in the process. MetricNet’s Vendor Evaluation and Ranking service is built upon the proven success factors in outsourcing. This expertise has been codified into a quantifiable vendor evaluation matrix that streamlines and greatly accelerates vendor selection. With decades of outsourcing experience and the most widely accepted vendor evaluation criteria in the industry, MetricNet’s Vendor Evaluation and Ranking service will ensure that you are partnered with the right outsourcer.

Methodology

MetricNet’s Vendor Evaluation and Ranking Service has been refined and perfected through decades of experience and hundreds of engagements with our Global 2000 client base.  It evaluates each vendor proposal on numerous criteria and sub-criteria, including:

• Proposal fit with client requirements
• Ability to deliver on contractual promises
• Technology maturity and AI capabilities
• Industry reputation and client references
• Training and human resource management

MetricNet continues to be the only firm in the industry that includes outsourcing benchmarks in the vendor evaluation process, thus ensuring that all vendor claims are substantiated through rigorous benchmarking. This is particularly crucial when it comes to service levels, customer experience, and KPI targets, where it is common for vendors to make performance claims that are not supported by industry benchmarks.

Deliverables

MetricNet’s Vendor Evaluation and Ranking Service produces a comprehensive report showing each vendor’s overall proposal score and the individual scores for each major category and sub-category in the evaluation matrix. Additionally, numerous intercomparison charts, tables and graphs are included that show how the vendors compare to each other.  Finally, the benchmarking section of the report illustrates how each vendor’s proposal compares to industry benchmarks, and flags any claim that is not supported by the benchmarking data. The report greatly simplifies both the vendor down-selection and final selection processes. Our outsourcing advisory clients universally report that MetricNet’s Vendor Evaluation service saves them hundreds of hours, and dramatically improves the outcome of the vendor selection process.

Take the Next Step

If you want to ensure that you are partnered with the right outsourcing vendor, MetricNet’s Vendor Evaluation and Ranking Service is for you! Contact MetricNet today for more information and your Vendor Evaluation price quote![gravityform id="54" title="false" description="false" ajax="false"]