Sourcing & Supplier Selection
Manage RFPs, evaluate suppliers, and select vendors — with structured workflows, scoring models, and real-time visibility.
Product Overview
Standardize Sourcing and Improve Supplier Selection Across the Organization
SmartSuite’s Sourcing & Supplier Selection software runs RFPs, RFQs, and vendor evaluations as records with the same criteria every time, so vendor decisions are made on scored evidence rather than ad hoc judgment.
Organizations can manage:
- RFP and RFQ processes
- Vendor evaluations and scoring
- Competitive bidding and comparisons
- Supplier selection and approvals
Each sourcing event holds its requirements, the vendors invited, their submissions, and the scores each evaluator gave. Procurement teams see vendor options, evaluation criteria, and decision outcomes in one place, with Activity History recording who scored what and when.
Sourcing & Supplier Selection works with:
- Procurement Requests & Intake for sourcing initiation
- Vendor & Supplier Management for supplier profiles
- Contract Lifecycle Management (CLM) for agreement creation
- Budget Planning & Management for budget alignment
- Spend & Procurement Analytics for insights
Sourcing is one stage of the procurement lifecycle in SmartSuite, so a selected vendor moves into a contract and a purchase order without re-entry.
What is Sourcing & Supplier Selection?
Sourcing & Supplier Selection is the process of identifying, evaluating, and selecting vendors through structured workflows such as RFPs, RFQs, and vendor comparisons. It ensures that procurement decisions are based on consistent criteria and aligned with organizational needs.
Core Capabilities
SmartSuite’s Sourcing & Supplier Selection product provides the capabilities required to manage sourcing processes and vendor evaluations across the organization.
RFP & RFQ Management
Create and manage sourcing events and vendor solicitations as records.
Vendor Evaluation & Scoring Models
Define weighted criteria and score vendors consistently with formula fields.
Supplier Comparison & Selection
Compare vendors side by side on their scores, pricing, and submitted documents.
Multi-Stage Review & Approval Workflows
Route sourcing approvals across stakeholders with automations.
Vendor Collaboration & Communication
Collect proposals and clarifications from suppliers through shared forms and automated email.
Documentation & Submission Management
Collect proposals, quotes, and supporting documents on the sourcing record.
Audit Trails & Decision Transparency
Keep every score, comment, and approval in Activity History.
Integration with Vendor & Contract Systems
Link sourcing outcomes to vendor and contract records.
Dashboards & Reporting
Track sourcing cycle times, savings, and outcomes.
The Sourcing Lifecycle
SmartSuite supports the lifecycle of sourcing — from request through vendor selection and transition to contract.
Initiate Sourcing Request
Trigger sourcing from procurement intake.
Define Requirements & Criteria
Establish evaluation and scoring models.
Solicit Vendor Responses
Manage RFPs, RFQs, and submissions.
Evaluate & Compare Suppliers
Score vendors and assess proposals.
Select Vendor & Approve Decision
Finalize supplier selection and transition to contract.
Connected Platform Ecosystem
SmartSuite connects sourcing with procurement intake, vendor management, and contract execution — ensuring alignment across the procurement lifecycle.
Capture and manage procurement requests with intake forms, rule-based approvals, budget checks, and dashboards that show the request pipeline.
Manage contracts across their full lifecycle in one platform for drafting, approvals, renewals, and compliance.
Who This Product Is For
Sourcing & Supplier Selection supports stakeholders responsible for evaluating and selecting vendors.
Procurement Teams
Finance Teams
Department Stakeholders
Legal & Risk Teams
Senior Approvers
Chief Operating Officer
Frequently Asked Questions
Answers to the questions readers ask most about this topic.
Sourcing and supplier selection is the process of identifying, evaluating, and selecting vendors through RFPs, RFQs, and comparisons scored against set criteria. Done well, it gives procurement a defensible reason for each award and gives the business the supplier that fits. Without it, selections depend on whoever ran the last deal. In SmartSuite each sourcing event is a record with its invited vendors, submissions, scores, and approvals, so the decision and its evidence sit together.
An RFP or RFQ is created as a sourcing record with its requirements, timeline, and invited vendors. Vendors submit proposals through a shared form that writes directly into the event, and they can return to a long form across sessions. Evaluators see every submission in one view as it arrives and score it against the same criteria.
Scoring models are built from weighted criteria such as cost, quality, delivery, and risk, with formula fields computing each vendor’s total. Several evaluators can score independently, and rollups average their scores. A comparison view then ranks the vendors on the same scale, so the recommendation is visible to approvers before they decide.
Every score, comment, and approval is recorded in Activity History on the sourcing event, with the evaluator and the time. Approvals run as automation steps, so the chain of decisions is part of the record. Anyone reviewing the award later opens the event and reads the trail.
Selecting a vendor on the sourcing event links it to that vendor’s profile in Vendor & Supplier Management and opens the agreement in Contract Lifecycle Management (CLM). The process moves straight into contract creation and management with the proposal and scores attached. Procurement starts the contract from the sourcing record rather than from a blank template.
Yes. Sourcing events run across departments and locations in one workspace, with permissions deciding who can score, approve, or view each one. Automations route approvals at any volume, and dashboards show cycle times by category and region. A new business unit adds its evaluators and approvers to the same tables.
Sourcing efficiency comes from doing each step once: requirements are entered on the event, vendors submit through a form, scores are computed, and approvals are routed by automation. Nothing is copied between spreadsheets and email, and the awarded vendor moves into a contract with the record attached. Cycle time per event is visible on dashboards, so procurement can see where events stall.
Supplier selection improves when every vendor is scored on the same criteria by several evaluators and the scores are compared side by side. Decisions become repeatable and defensible, and the scoring history shows which criteria drove good outcomes. Over time, procurement refines the weights from what the awarded suppliers delivered.
Make Better Vendor Decisions with Consistent Sourcing
SmartSuite helps you run sourcing events, score suppliers on the same criteria, and select vendors with a record of why.