The Vendor List Template helps CIOs and IT leaders create a professional, well-structured document that presents potential solution options for business problems. This template is specifically designed to help you evaluate vendors systematically and build a compelling case for your preferred approach.

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When to Use This Template

Use the Vendor List Template when:

• You need to evaluate multiple vendors for an AI procurement decision
• You’re exploring different approaches to solving a business problem, including non-vendor options
• You need to present a rigorous evaluation of alternatives to senior leadership
• You’re preparing to secure budget approval for a formal buying process
• You want to ensure you’ve considered all viable options before committing

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Template Structure

The Vendor List Template provides a structured format to organize your vendor evaluation process:

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Background Section

This opening section provides context for your evaluation:

• Business Problem: A clear statement of the challenge you’re trying to address
• Known Vendors: Any pre-existing vendor relationships or vendors already under consideration
• Existing Information: Reference to prior documentation such as problem statements or business cases

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Vendor Profiles

For each shortlisted vendor, the template includes:

• Vendor Name and Product: Clear identification of the company and specific offering
• Reason for Inclusion: Strategic rationale for including this vendor in your shortlist
• Supporting Evidence: Objective data points such as analyst rankings, peer recommendations, or first-hand experience
• Potential Risks: Identified concerns or limitations specific to this vendor
• Useful Links: Product documentation, pricing information, and other relevant resources

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Decision Criteria

A clearly articulated set of evaluation criteria that matters for your specific context:

• Industry-specific requirements
• Technical compatibility considerations
• Budget constraints
• Implementation timeline needs
• Support and maintenance requirements
• Integration capabilities

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Summary Matrix

A color-coded comparison table that presents key data points across all vendors, enabling:

• Side-by-side feature comparison
• Visual highlighting of strengths and weaknesses
• Quick reference for stakeholder discussions

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How This Template Helps

The Vendor List Template delivers several key benefits:

1. Ensures Comprehensive Evaluation: Prompts you to explore all viable options beyond just the most visible vendors
2. Builds Objective Decision Criteria: Helps establish transparent evaluation standards
3. Simplifies Complex Comparisons: Creates easy-to-understand visual comparisons
4. Addresses Alternative Approaches: Includes non-vendor options like improving existing systems or process changes
5. Creates Alignment: Provides a reference document that stakeholders can review and discuss
6. Demonstrates Due Diligence: Shows leadership that you’ve conducted a thorough evaluation process

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Template Example

Here’s a simplified example of what your completed Vendor List might look like:

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Vendor Short List [Draft]

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Background

Business Problem: Our company needs a generative AI solution to improve customer support response times and quality.

Known Vendors: Currently using basic chatbots from Intercom. Have received demos from OpenAI and Anthropic.

Existing Information: Requirements document completed with input from customer support, legal, and IT teams.

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Vendor Profiles

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OpenAI

• Product: GPT-4 API with custom fine-tuning
• Reason for inclusion: Market leader, extensive capabilities
• Supporting evidence: Used by industry peers, strong developer community
• Potential risks: API rate limitations, pricing uncertainty, data privacy concerns
• Links: openai.com/api

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Anthropic

• Product: Claude Enterprise
• Reason for inclusion: Strong safety features, longer context window
• Supporting evidence: Positive security reviews, enterprise-ready features
• Potential risks: Newer company, smaller integration ecosystem
• Links: anthropic.com/claude

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In-house development

• Approach: Build custom solution using open-source LLMs
• Reason for inclusion: More control over data and functionality
• Supporting evidence: IT team has ML experience, lower long-term costs
• Potential risks: Development timeline uncertainty, requires specialized skills
• Links: [Internal resource planning document]

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Status quo with process improvement

• Approach: Enhanced training and knowledge base for support team
• Reason for inclusion: Low-risk alternative with minimal change management
• Supporting evidence: Recent process audit identified improvement opportunities
• Potential risks: May not scale with growth, limited automation benefits
• Links: [Current process documentation]

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Decision Criteria

1. Total cost of ownership (3-year projection)
2. Data privacy and security compliance
3. Integration with existing support systems
4. Customization capabilities
5. Implementation timeline
6. Training requirements
7. Scalability

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Summary Matrix

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Best Practices

To get the most value from this template:

1. Include diverse options: Don’t limit yourself to just traditional vendors - consider building in-house, improving current systems, or maintaining status quo
2. Be objective: Support claims with evidence rather than opinions
3. Quantify where possible: Use numbers for costs, timelines, and other measurable factors
4. Highlight risks honestly: Every option has downsides - acknowledging them builds credibility
5. Engage stakeholders early: Share the draft with key stakeholders to gather feedback
6. Keep it updated: Revisit as you learn more through vendor discussions and deeper research

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Next Steps

After completing your Vendor List:

2. Update your requirements document for each shortlisted vendor
3. Plan vendor meetings to validate your assessment