7 Expert Tips For Strategic Vendor Selection and Procurement | UpGuard

This document provides a practical guide to building an effective vendor selection and procurement process, covering goal definition, sourcing and screening vendors via RFIs/RFPs/RFQs, establishing evaluation criteria (including security posture and compliance), drafting contracts, and conducting vendor due diligence to support ongoing vendor risk management. It emphasizes integrating VRM early to mitigate third-party risk and highlights how UpGuard’s Vendor Risk platform can streamline questionnaires, continuous monitoring, and risk remediation workflows.