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Vendor Risk Assessment Template

This vendor risk assessment template is used to compare and evaluate different vendors. It is categorized according to a predefined set of organizational criteria but it is highly customizable to fit your business needs.

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Vendor Risk Assessment Template


Vendor Assessment

Click add to include a candidate vendor
Vendor Name
Contact Person

Adherence to organizational standards

Overall Quality & Level of Professionalism
Overall Response

Company Information

Financial Viability
Organizational Structure
Experience with Similar Companies
Service Department

Project Understanding

Overall Comprehension of Project Objectives
Understanding of the Business Requirements
Understanding of the Business Vision


Completeness of Vendor Response
Vendor Ability to Meet Requirements

Product Viability & History

Technology Is Sustainable
Product Roadmap
Product Development Life-Cycle
New Release Process

Terms & Conditions

Detailed Buyer Duties
Terms & Conditions
Purchase Agreement Details

Vendor Software Demonstration

Solution Is Integrated
Aligns with Company Objectives
Third-Party Products Shown
Ease of Use
System Performance
Flow & Simplicity
System Ability To Handle Requirements
Flexibility, Tailorability, Extensibility
Ability to Answer Questions
Application Robustness
Data Privacy
Disaster Recovery Plan

Fee Summary

License Fees
Maintenance Fees
Purchase Timeline
Licensing Period
Other Fees


Overall Risk Assessment


Recommended Vendor
Overall Recommendation
Name and Signature of Officer in Charge
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Your solution to identify hazards with a vendor risk assessment template

The vendor risk assessment template supports detecting and evaluating any risks or hazards connected with a vendor’s operations and products, as well as their potential influence on your organization.

A vendor assessment checklist template is essential because it allows an organization to articulate the risks posed by its third-party vendor relationships. A third party’s risk is also the organization’s risk. Third-party vendors are often associated with financial, cybersecurity, information security, operational, reputational, and compliance risks.

Using vendor risk assessment checklist templates you can thoroughly evaluate the supplier's adherence to legal obligations including due diligence, data protection, and security threats. You can download Lumiform’s free vendor risk assessment template or sign in with one of our packages for access to plenty of features with unlimited queries, custom functions, and many more to adapt the form to your needs. Above you can find our checklist article with tips and benefits around our third-party risk assessment template.

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