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Improve Accountability for Vendor Management Excellence

Turn vendors into partners one step at a time.

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Contributors

  • Canadian Broadcasting Corporation
  • Central 1 Credit Union
  • City of Brampton
  • First West Credit Union
  • Intertek
  • Moneris Solutions
  • Navitus Health Solutions
  • New Zealand Transport Agency
  • Province of Ontario
  • Vivo Inc.

Your Challenge

  • Adoption of technologies, like cloud computing, and reliance on outsourced services is increasing the drive to improve vendor relationship management.
  • Many IT departments are achieving at least some positive vendor management outcomes. Deciding what to do next to enhance current capability can be daunting when you look at the number and variety of activities to tackle.

Our Advice

Critical Insight

  • Vendor management can deliver immediate cost savings, but the greatest benefits come from turning vendors into partners who contribute to the future success of your organization.

Impact and Result

  • Achieve higher vendor management effectiveness by implementing our action plan to take you through mastering the basics of vendor management to adopting more advanced, strategic practices.

Research & Tools

1. Improve and expand current vendor management practices

Take advantage of the more strategic benefits of vendor relationships.

2. Create a list of current vendors in the enterprise

Gain better control over expenditures.

3. Choose the right vendor

Ensure the solutions are a best fit for the enterprise.

4. Better understand contract negotiation

Create fair and favorable vendor contracts.

5. Minimize risk

Avoid unexpected surprises from vendors.

6. Better manage vendor performance

Improve relationships and work toward building mutually beneficial partnerships.

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