CRIF’s Vendor Evaluation Report and It’s Benefits

Vendor evaluation or vendor assessment is the process businesses use to determine whether their list of prospective vendors and suppliers can meet their organizational standards and comply with the rules of the contract. The intent is to secure a low-risk and best possible vendor-supplier portfolio. The benefits of the vendor risk assessment process, which far exceed the challenges of setting it up, including finding low-risk sources for high-quality goods and services, as well as the development of mutually beneficial, long-term business relationships.