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

Criteria	OpenAI	Anthropic	In-house	Status quo
Est. Annual Cost	$120K	$150K	$200K initial,$80K ongoing	$30K
Data Privacy	⚠️	✅	✅	✅
System Integration	✅	⚠️	✅	✅
Implementation Time	2-3 months	3-4 months	6-8 months	1 month
Customization	⚠️	⚠️	✅	❌
Scalability	✅	✅	⚠️	❌

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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

Vendor Meeting Template

Ready to meet with potential vendors? Use our Vendor Meeting template to plan your agenda and questions.