About the Selection Stage
Once the scope of work has been properly defined, the next step is identifying the potential vendor or vendors that have the resources, capabilities, and requisite experience to provide the desired services. The [vendor] selection stage can be a very complicated and emotional undertaking. The main challenge is to ensure a vendor is chosen that delivers quality services at a reasonable price point, one that reduces risks, and one that you can trust. Choosing the right vendor is much like choosing a good partner; the chances are that if you make the right decision from the onset you will have a potentially lasting relationship while choosing the wrong vendor could damage and thwart a well-intentioned outsourcing project. Therefore, after a list of potential vendors have been drawn, conducting due diligence on the targeted vendors is key to selecting the best fit for your organization.