Manage Your Vendors Before They Manage You
Maximize the value of vendor relationships.
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Det omfattande materialet är framtaget i samarbete med Info-Tech Research Group.
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BEST PRACTICE – Content overview
- As IT services and products continue to become outsourced, IT is becoming increasingly dependent on external vendors, and a transaction-based approach becomes insufficient to guarantee continued value.
- When IT does not manage these vendors properly, performance levels can drop and fail to deliver essential services – and IT is left accountable.
- All vendors are not equal. Invest your vendor management efforts where they can deliver the best return; focus on the vendors that are most important to your business. Classify and prioritize your vendors to separate the wheat from the chaff.
- Vendor management is an ongoing commitment. From contracting to renewal – a successful vendor management office (VMO) depends on your ability to create repeatable, iterative processes that can flourish over many years of diligent work.
Impact and Result
- Prioritize and classify your vendors with quantifiable, standardized rankings.
- Focus on your strategic vendors first, then, year over year, work through every classification of vendor.
- Standardize your processes for transitioning in new vendors, maintaining communications, and monitoring performance.
- Create clear escalation pathways and contingency plans for addressing vendor underperformance.
- Codify your tailored, best-practice methodology for managing vendor relationships.
Read our concise Executive Brief to find out why you should standardize your vendor man-agement practices, review Info-Tech’s methodology, and understand the four ways we can support you in completing this project.
1. Prioritize vendors
Create a prioritized inventory of your vendors.
2. Classify vendors
Classify your vendors using Info-Tech’s best-practice C.O.S.T. quadrant.
3. Document vendors
Standardize your approach to vendor management: consolidate vendor information, build an escalation chain, create internal and external scorecards, and document the entire process.