Maximize the Value of Vendor Relationships – Phases 1-3

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The majority of IT departments describe their vendor management process as “ad hoc.”

Use this blueprint to:

  • Determine the right maturity model for your vendor management program in order to maximize the value of vendor relationships based on your specific goals, expectations, and constraints.
  • Draw from industry-leading best practices to guide you through the refinement of each phase of the vendor lifecycle or to optimize specific areas of concern, such as contracting or transitions.
  • Develop vendor evaluations that reflect your organization’s priorities and can be used to improve vendor performance.
  • Adopt a risk-focused approach that helps you prioritize vendor relationships to better allocate resources and identify candidates for mutually-beneficial strategic partnerships.
  • Create a comprehensive handbook to serve as the cornerstone of your vendor management program – a single reference point for all relevant vendor management information and processes.

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