Template · Vendor selection
Vendor selection template: score, compare and get sign-off
A vendor selection template has two parts. A weighted scoring matrix narrows the field: fix the criteria and weights first, have each stakeholder score every vendor from 1 to 5 independently, then compare the weighted totals. A sign-off closes the decision: one question, the finalists as options, named approvers and a deadline, with the outcome recorded.
Last updated: 3 November 2026
What is a vendor selection template?
A vendor selection template is a shared structure for choosing between suppliers: the criteria that matter, how much each one weighs, a score for every vendor, and a way to turn those scores into an approved choice. Choosing is rarely the hard part. Getting five stakeholders to agree on which vendor, by a deadline, is where projects stall.
When you need a vendor selection template
- New software or SaaS tool. Three platforms shortlisted, four department heads with opinions. Without structure, the evaluation drags for weeks.
- Agency or contractor selection. Two agencies pitched. The CEO, the marketing lead and the CFO each care about different criteria. A scoring matrix aligns them.
- Outsourcing or managed services. Procurement needs price, operations needs the SLA, IT needs the security posture. A weighted matrix makes everyone score against the same criteria.
- Renewal or replacement. The current contract is up. Renew, switch or bring it in-house? Framing it as a structured choice prevents renewal by inertia.
If one person decides between two options, you probably don’t need a template. For everything else, structure beats instinct.
The vendor scoring matrix
Copy this table. Replace the vendor names and adjust the criteria to your purchase. Score each cell from 1 (poor) to 5 (excellent).
Adapting the criteria
The six criteria cover most B2B purchases. Swap and reweight them for what matters to yours:
- Agency selection: replace Scalability with cultural and creative fit, and weight Functionality fit (portfolio relevance) higher.
- Managed services: add transition risk. How painful is it to switch away if the vendor underperforms?
- Regulated industries: raise Security and compliance to 20 to 25% and add a pass/fail gate. A vendor that fails compliance is out, whatever it scores.
How to use the matrix
1. Fix the criteria and weights before anyone scores
The most common mistake is adjusting weights after seeing the scores to justify a favourite. Lock the weights, share them with the group, then score.2. Each stakeholder scores independently
Give everyone the same blank matrix. Independent scoring prevents anchoring: the first person to speak doesn't set the frame for everyone else.3. Calculate the weighted totals
Multiply each score by its weight and add up the column. If Vendor A scores 4 on Functionality fit (30%) and 3 on Total cost (25%), those two criteria contribute (4 × 0.30) + (3 × 0.25) = 1.95.4. Compare and discuss
The matrix doesn't make the decision; it structures the conversation. Where stakeholders' scores diverge sharply, that's the discussion worth having. Where they agree, move on.
From scores to sign-off
The matrix narrows the field. The sign-off closes the decision. They are two steps, and running them as one is why vendor selections drag. After the scoring discussion you should have a clear winner or two close finalists. Now everyone who has to live with the choice approves it on the record, by a deadline.
- Frame it as a choice. “Which vendor do we go with: Vendor A or Vendor B?” can close. “What does everyone think about the vendors?” can’t.
- Name the approvers. Only the people whose approval is needed to issue the purchase order: typically the budget holder, the end-user lead and the procurement or legal contact.
- Set a deadline. “By Friday” beats “when you get a chance”. A vendor selection without a deadline doesn’t happen.
- Record the outcome. Which vendor, under which rule, and when. It matters when someone asks three months later why you chose Vendor B.
Copy-paste vendor sign-off request
Vendor sign-off: Which [service / product] vendor do we go with?
Options: [Vendor A] / [Vendor B] / [Vendor C]
Scores: [link to the completed matrix]. Weighted totals: [A], [B], [C]
Who signs off: [budget holder], [end-user lead], [procurement or legal]
Rule: [Majority / Unanimous / Budget holder decides]
Sign-off closes: [day, time]. The purchase order goes out on [date].
Where Settle for Teams fits
Settle for Teams runs the sign-off. The scoring matrix stays in your spreadsheet or document; send its link with the request.
Related ops template. The Budget choice template asks “Which budget option do we commit to for [period]?” with Option A, Option B and Option C, under Majority with a 1-week deadline. Settle won’t send it until you replace the bracketed text.
Settle for Teams costs $199 a month per workspace, with no per-seat fees, 25 managed decisions a month and a 7-day free trial.
Vendor selection questions
What criteria should a vendor scoring matrix include?
Start with functionality fit, total cost, implementation effort, support and SLA, security and compliance, and scalability. Adjust the weights to the purchase. For regulated industries, add a pass/fail compliance gate. The criteria should reflect what matters for this decision, not a generic checklist.
How many stakeholders should sign off on a vendor selection?
Only the people whose approval is needed to move forward, typically the budget holder, the end-user lead and procurement or legal. Three to five approvers is usually enough. More and the decision stalls; fewer and you risk missing a critical objection.
What if two vendors score almost the same?
Then they are genuinely close on the criteria you measured. Rather than adding criteria to separate them artificially, run the sign-off with both finalists as options and let the approvers decide, informed by the scores. In Settle, if both finalists clear a majority, the decision escalates to you rather than picking one.
Should stakeholders know who scored what?
For internal scoring, usually yes: you want to know who has concerns so you can address them. In Settle, each stakeholder is invited by name and your dashboard shows who responded, while the shared record shows how many approved each vendor, without names or emails.
How long should stakeholders get to respond?
If they've already seen the vendor presentations, 48 hours is usually enough. For complex purchases that need more review, give a week. The key is setting a deadline at all.
Get your vendor decision signed off before the purchase order
Every approver gets a private link, Settle reminds the quiet ones and closes it at your deadline. 7-day free trial, then $199/month with no per-seat fees.
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