Establish a Sustainable Vendor Management Office | Info-Tech Research Group

A large percentage of organizations do not have a formalized vendor management process, leaving the entire organization vulnerable to poor business outcomes.
Because it is so hard to quantify ROI for vendor management activities and resources, it often doesn’t get done effectively.
Managing vendors is a cross-functional endeavor. Without a solid internal foundation, effective vendor management is likely to fall short of achieving value-added outcomes.

Our Advice

Critical Insight

Define what vendor management means for your organization. The definition is dependent on your organization’s size and structure.
Vendor management does not exist in a vacuum. It is integrated and dependent on other business and IT processes, such as project management, requirements gathering, procurement, and compliance.
The internal relationships need to be strong before your vendor relationships can be strong. Make sure your organization can present a united front.
Understand exactly where you are consuming resources in terms of people and time invested into these solutions. This is a holistic perspective on resource allocation that will drive visibility upwards to senior management and force a ROI or cost-benefit dialogue.

Impact and Result

Taking a proactive approach to managing your vendors will help negotiate relationships where everyone’s best interests are accommodated.
The approach begins by laying the foundation for a thorough vendor management function within your organization.

Establish a Sustainable Vendor Management Office Research & Tools

Start here – read the Executive Brief

Read our concise Executive Brief to find out why you should carefully plan your vendor management process, review Info-Tech’s methodology, and understand the different ways we can support you in completing this project.

Establish a Sustainable Vendor Management Office – Executive Brief

1. Define vendor management strategy

Define vendor management and complete a vendor management office (VMO) strategic roadmap.

2. Design vendor management office

Map your organization to an organizational structure and staffing model.

3. Develop vendor management governance

Clarify value proposition and launch internal roadshow to gain stakeholder buy-in.

Member Testimonials

After each Info-Tech experience, we ask our members to quantify the real-time savings, monetary impact, and project improvements our research helped them achieve. See our top member experiences for this blueprint and what our clients have to say.

Client

Experience

Impact

$ Saved

Days Saved

Testimonial

University Of Alaska

Guided Implementation

10/10

$129K

N/A

The best part was getting some very detailed and usable information from Gordana. She seemed very knowledgeable.

Wavestone SA

Guided Implementation

10/10

$13,600

10

Understanding the vendor risk management tools. Thank you Gordana for the time!

Summa Health System

Guided Implementation

8/10

N/A

10

I'm not certain as to the financial impact of the tools and advice. Rated an 8 because I'm not sure as to the value of the experience yet. Only t... Read More

National Life Holding Company

Guided Implementation

8/10

$136K

5

Paysafe Technologies Inc.

Guided Implementation

10/10

N/A

10

unfortunately I cannot yet estimate the financial impact; the introductory calls to this topic are extremly helpful, the tools provided and the rec... Read More

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