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.
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
Template Structure
The Vendor List Template provides a structured format to organize your vendor evaluation process:
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
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
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
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
How This Template Helps
The Vendor List Template delivers several key benefits:
Ensures Comprehensive Evaluation : Prompts you to explore all viable options beyond just the most visible vendors
Builds Objective Decision Criteria : Helps establish transparent evaluation standards
Simplifies Complex Comparisons : Creates easy-to-understand visual comparisons
Addresses Alternative Approaches : Includes non-vendor options like improving existing systems or process changes
Creates Alignment : Provides a reference document that stakeholders can review and discuss
Demonstrates Due Diligence : Shows leadership that you’ve conducted a thorough evaluation process
Template Example
Here’s a simplified example of what your completed Vendor List might look like:
Vendor Short List [Draft]
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.
Vendor Profiles
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
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
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]
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]
Decision Criteria
Total cost of ownership (3-year projection)
Data privacy and security compliance
Integration with existing support systems
Customization capabilities
Implementation timeline
Training requirements
Scalability
Summary Matrix
Criteria OpenAI Anthropic In-house Status quo Est. Annual Cost $120K $150K 200 K i n i t i a l , 200K initial, 200 K ini t ia l , 80K ongoing$30K Data Privacy ⚠️ ✅ ✅ ✅ System Integration ✅ ⚠️ ✅ ✅ Implementation Time 2-3 months 3-4 months 6-8 months 1 month Customization ⚠️ ⚠️ ✅ ❌ Scalability ✅ ✅ ⚠️ ❌
Best Practices
To get the most value from this template:
Include diverse options : Don’t limit yourself to just traditional vendors - consider building in-house, improving current systems, or maintaining status quo
Be objective : Support claims with evidence rather than opinions
Quantify where possible : Use numbers for costs, timelines, and other measurable factors
Highlight risks honestly : Every option has downsides - acknowledging them builds credibility
Engage stakeholders early : Share the draft with key stakeholders to gather feedback
Keep it updated : Revisit as you learn more through vendor discussions and deeper research
Next Steps
After completing your Vendor List:
Update your requirements document for each shortlisted vendor
Plan vendor meetings to validate your assessment
Vendor Meeting Template Ready to meet with potential vendors? Use our Vendor Meeting template to plan your agenda and questions.
Responses are generated using AI and may contain mistakes.