Vendor evaluation skills up to par? Put your experience to the test

How comfortable are you with your current vendor evaluation process? Vendor selection and management -- from contract negotiations to establishing long-term strategies -- is an important part of cultivating your organization's relationships with its software and hardware providers.

From using and developing vendor scorecards and assessments to negotiating better terms later on, brush up on some of our vendor management tips and take the time to evaluate yourself. Test your selection smarts and find out where you can improve with this quick quiz.

1. A vendor evaluation scorecard should be__________________. Required Question
2. True or false? Vendor evaluation and selection should always be a formal process. Required Question
3. Vendor evaluation scorecards are important because __________________. Required Question
4. During vendor evaluations, it is ______ important to ask if the vendor has experience in your industry. Required Question
5. Software vendor negotiations are important to ensure you're getting the best deal for your money. But how much sway do midmarket companies have, compared with larger enterprises, when it comes to striking a deal? Required Question
6. True or false? During software vendor negotiations with large vendors (Microsoft, IBM, Oracle, etc.), it's never in your best interest to present to them how your long-term strategy will align with theirs. Required Question
7. How can you achieve better terms and pricing during vendor contract negotiations? Required Question
8. Before any software evaluation process, it's important to ______________________. Required Question

This was first published in May 2010

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