What is Vendor Performance Score?
The Vendor Performance Score rates vendors based on their reliability, cost-effectiveness, support, and overall value to the organization. This score helps businesses compare vendors and make data-driven decisions during contract negotiations or renewals.
Why it Matters
Evaluating vendor performance ensures that businesses work with reliable partners who meet their expectations. A performance score helps manage vendor risk and optimize software costs by identifying top-performing vendors.
Benefits
- Rates vendors based on performance metrics
- Helps compare vendors for contract negotiations
- Identifies high-performing vendors
- Supports better vendor selection and contract management
