Engagements are potential relationships that have not yet been accepted as a working business relationship. A supplier of an engagement is referred to as a Candidate Supplier. Engagements can be used in support of the Request For Proposal (RFP) or Request For Information (RFI) process to track attributes about the project, identify and set-up candidate suppliers, and run risk and compliance programs to:
- Collect data about each of the candidate suppliers
- Determine due diligence for suppliers
- Validate compliance with policies
- Measure the suppliers
- Compare suppliers being considered for the project
Once the candidate supplier(s) is chosen, a project can be awarded to that supplier in the application. The relationship is automatically created and all elements related to the relationship and supplier, including UDFs, information management programs, and risk profiles are activated.
The creation and use of an engagement requires licensing of the Engagements module. To activate this module, please contact Coupa.