GRC & Resilience
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Risk Management

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Product Overview

Standardize Sourcing and Improve Supplier Selection Across the OrganizationSmartSuite’s Sourcing & Supplier Selection solution provides a structured, scalable system to manage sourcing activities, vendor evaluations, and supplier selection processes. It enables organizations to move from ad hoc decision-making to a consistent, data-driven approach for selecting vendors.Organizations can manage:RFP and RFQ processesVendor evaluations and scoringCompetitive bidding and comparisonsSupplier selection and approvalsWith a centralized sourcing system, procurement teams gain visibility into vendor options, evaluation criteria, and decision outcomes.SmartSuite delivers structured supplier evaluation and comparison, ensuring that decisions are based on consistent criteria and aligned with organizational priorities.As part of SmartSuite’s connected platform, Sourcing & Supplier Selection integrates directly with:Procurement Requests & Intake for sourcing initiationVendor Management Hub for supplier profilesContract Management for agreement creationFinance & Administration for budget alignmentSpend & Procurement Analytics for insightsThis ensures sourcing is not isolated—but part of a connected procurement lifecycle.The result is a sourcing system that is:Structured and repeatableTransparent and defensibleOptimized for better supplier decisions.

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Core Capabilities

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RFP & RFQ ManagementCreate and manage sourcing events and vendor solicitations.

Vendor Evaluation & Scoring ModelsDefine criteria and score vendors consistently.

Supplier Comparison & SelectionCompare vendors based on structured data.

Multi-Stage Review & Approval WorkflowsManage sourcing approvals across stakeholders.

Vendor Collaboration & CommunicationCoordinate with suppliers during the sourcing process.

Documentation & Submission ManagementCollect proposals, quotes, and supporting documents.

The Sourcing LifecycleSmartSuite supports the lifecycle of sourcing — from request through vendor selection and transition to contract.

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Initiate Sourcing RequestTrigger sourcing from procurement intake.

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Define Requirements & CriteriaEstablish evaluation and scoring models.

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Solicit Vendor ResponsesManage RFPs, RFQs, and submissions.

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Evaluate & Compare SuppliersScore vendors and assess proposals.

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Select Vendor & Approve DecisionFinalize supplier selection and transition to contract.

Who Uses This Solution

Sourcing & Supplier Selection supports stakeholders responsible for evaluating and selecting vendors.

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Frequently Asked Questions

Answers to common questions about SmartSuite’s pricing models, plan options, and onboarding programs.

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Build Trust and Control in Your AI SystemsSmartSuite delivers a complete GRC suite that connects AI governance with risk, compliance, and operational workflows.