Engaging Vendors Through Pyramyd

Overview:
After evaluating vendors in the Discover phase, the next step is to engage with those vendors on our platform. This article explains how to move from vendor evaluation to active vendor engagement using Pyramyd’s built‑in RFP features.

The Engagement Process

Pyramyd’s engagement flow is designed to simplify your communication with vendors while protecting your anonymity and ensuring fairness. The process includes the following steps:

1. Select Vendors:

   • After reviewing the Vendor Matrix and detailed scorecards, decide which vendors you want to invite for further discussion.

   • You can select one or more vendors (up to 10 at a time) based on their scores, overrides, and your overall judgment.

2. Send Invitations:

   • Click the Engage button next to the selected vendor(s).

   • The system sends an invitation email to each vendor. The email includes a link to a detailed project overview—this is your “light RFP.”

   • The vendor sees high‑level requirements and project information (for instance, industry and estimated deal value), but your identity is kept anonymous to avoid circumvention.

3. Vendor Response:

   • Vendors respond directly on the platform. They can provide narrative responses and answer specific requirement questions using our AI‑assisted RFP response tool.

   • (Note: RFP response automation is part of our advanced features roadmap. For now, vendors submit responses manually, but our core functionality of receiving and displaying responses is live.)

4. Evaluate Vendor Responses:

   • Once responses are received, you move to the “Evaluate” tab. Here, our system will help you compare responses side‑by‑side using similar scoring techniques as in the Vendor Matrix.

   • You can see which vendor best meets your requirements in detail.

5. Final Selection and Reporting:

   • In the final “Select” phase, you make your vendor choice.

   • Pyramyd automatically generates a comprehensive report (or snapshot) detailing your evaluation process, including requirements, vendor scores, and your override feedback.

   • This report can be exported (as a PDF or other format) for sharing with your management or procurement team.

Select Vendors:

• After reviewing the Vendor Matrix and detailed scorecards, decide which vendors you want to invite for further discussion.

After reviewing the Vendor Matrix and detailed scorecards, decide which vendors you want to invite for further discussion.

• You can select one or more vendors (up to 10 at a time) based on their scores, overrides, and your overall judgment.

You can select one or more vendors (up to 10 at a time) based on their scores, overrides, and your overall judgment.

Send Invitations:

• Click the Engage button next to the selected vendor(s).

Click the Engage button next to the selected vendor(s).

• The system sends an invitation email to each vendor. The email includes a link to a detailed project overview—this is your “light RFP.”

The system sends an invitation email to each vendor. The email includes a link to a detailed project overview—this is your “light RFP.”

• The vendor sees high‑level requirements and project information (for instance, industry and estimated deal value), but your identity is kept anonymous to avoid circumvention.

The vendor sees high‑level requirements and project information (for instance, industry and estimated deal value), but your identity is kept anonymous to avoid circumvention.

Vendor Response:

• Vendors respond directly on the platform. They can provide narrative responses and answer specific requirement questions using our AI‑assisted RFP response tool.

Vendors respond directly on the platform. They can provide narrative responses and answer specific requirement questions using our AI‑assisted RFP response tool.

• (Note: RFP response automation is part of our advanced features roadmap. For now, vendors submit responses manually, but our core functionality of receiving and displaying responses is live.)

(Note: RFP response automation is part of our advanced features roadmap. For now, vendors submit responses manually, but our core functionality of receiving and displaying responses is live.)

Evaluate Vendor Responses:

• Once responses are received, you move to the “Evaluate” tab. Here, our system will help you compare responses side‑by‑side using similar scoring techniques as in the Vendor Matrix.

Once responses are received, you move to the “Evaluate” tab. Here, our system will help you compare responses side‑by‑side using similar scoring techniques as in the Vendor Matrix.

• You can see which vendor best meets your requirements in detail.

You can see which vendor best meets your requirements in detail.

Final Selection and Reporting:

• In the final “Select” phase, you make your vendor choice.

In the final “Select” phase, you make your vendor choice.

• Pyramyd automatically generates a comprehensive report (or snapshot) detailing your evaluation process, including requirements, vendor scores, and your override feedback.

Pyramyd automatically generates a comprehensive report (or snapshot) detailing your evaluation process, including requirements, vendor scores, and your override feedback.

• This report can be exported (as a PDF or other format) for sharing with your management or procurement team.

This report can be exported (as a PDF or other format) for sharing with your management or procurement team.

Confidentiality and Transparency

• Anonymity: During the initial vendor engagement, your identity is kept confidential. Only essential information (e.g., industry, project scope, estimated deal value) is shared with vendors.

• Non‑Circumvention: You must agree to our non‑circumvention clause before viewing full details of an opportunity. This ensures that vendors cannot bypass the platform and contact you directly outside the system.

• Feedback: Vendors also have an opportunity to provide feedback on their scores if they disagree with our assessment. This two‑way feedback helps improve the overall system.

Anonymity: During the initial vendor engagement, your identity is kept confidential. Only essential information (e.g., industry, project scope, estimated deal value) is shared with vendors.

Non‑Circumvention: You must agree to our non‑circumvention clause before viewing full details of an opportunity. This ensures that vendors cannot bypass the platform and contact you directly outside the system.

Feedback: Vendors also have an opportunity to provide feedback on their scores if they disagree with our assessment. This two‑way feedback helps improve the overall system.

Roadmap Note

Some aspects of our engagement process, such as real‑time vendor chat, advanced RFP automation, and full integration of responses into your CRM, are on our roadmap. For now, the core functionality of inviting vendors and receiving responses is live.

Conclusion:
Pyramyd’s engagement workflow makes vendor communication and evaluation straightforward and unbiased. By using our platform, you streamline the entire RFP process—saving time and money—while ensuring that the vendors you choose are the best fit for your needs.