PurchTips edition #356<\/p>\n<\/div>
Organizations often need certain documentation to onboard a vendor.\u00a0 Sometimes risk, technical complexity, or other factors may require you to obtain extensive amounts of documentation from some vendors.\u00a0 Where organizations run into trouble is when they require all the various types of documentation from every vendor.\u00a0 They often do this because they feel it\u2019s too hard to decide what documents are required for each vendor and it\u2019s easier to ask every vendor for everything.<\/p>\n
However, these lazy organizations don\u2019t realize the consequences of that approach.\u00a0 The consequences include:<\/p>\n
Now, obviously, you don\u2019t want to have a different onboarding process for every new vendor. And you don\u2019t want to structure your vendor onboarding process to require so much analysis to figure out what documentation is needed every single time you need to add a vendor.\u00a0 So, it is best to strike a balance by identifying a limited number of categories of vendors, each with their own documentation requirements.\u00a0 Three to 6 categories is manageable.<\/p>\n<\/div><\/div><\/div><\/div><\/div>
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