Get Ready for the Evolution of Vendor Management
VM needs to advance to cope with the evolving and changing business/IT environment.
- The business/IT environment that demands the vendor management (VM) we have today is evolving and changing, thus VM needs to change with it.
- With more core services being outsourced or hosted in third-party cloud environments, IT is increasingly involved in relationship management, rather than technology management.
- Those IT departments that are becoming dependent on cloud providers must take VM skills to the next level. Maximizing the performance of your vendors can be the difference between extraordinary success and catastrophic failure.
- Adopting SaaS solutions changes business operating procedures and makes the organization highly dependent on the solutions. As a result, the SaaS vendor has a stronger position in, and is in complete control of, the relationship – particularly from a pricing perspective. Organizations need to plan adequately to avoid SaaS vendor lock-in.
Our Advice
Critical Insight
- VM will evolve from the traditional transactional model to become an integral component of IT operations.
- In the future, VM will be a core component of service management, and the role of vendor manager will converge with that of service manager.
- VM will become bigger! VM’s scope of responsibilities will expand to include new tasks, while the importance of traditional VM components will increase. Their implementation and integration into IT operations will be critical to the organization’s success.
- Third-party vendor managers will play a major role in IT service management.
- Organizations will still need sufficient knowledge of vendor management and sourcing to effectively direct, control, and monitor a third-party VM provider.
Impact and Result
Prepare for the short-term future:
- Inventory your team’s VM skills, and identify and address gaps by increasing your team’s VM competency.
- Segment your vendors to prioritize and direct your VM effort.
- Develop required capabilities to address changing VM goals and priorities.
- Consider using VM tools and/or supplier networks to improve your VM function.
Prepare for the long-term future:
- Revisit the vendor segmentation approach and re-segment the vendor portfolio.
- Rationalize VM tools and systems.
- Consider using a third-party VM service provider.
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
Barloworld Equipment RSA
Guided Implementation
8/10
$2,037
2
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Speak With An Analyst
Get the help you need in this 1-phase advisory process. You'll receive 3 touchpoints with our researchers, all included in your membership.
- Call 1: Create a vendor management capability improvement plan
Self-assess the capability of your vendor management processes and determine the next steps to improve your vendor management function.
- Call 2: Pilot third-party vendor management services
Assess your organization’s suitability for third-party vendor management.
- Call 3: Future-proof vendor management
Move from vendor management capability level 3 to levels 4 and 5.
Looking at Risk in a New Light: The Six Pillars of Vendor Risk Management
Manage Exponential Value Relationships
Jump Start Your Vendor Management Initiative
Capture and Market the ROI of Your VMO
Cut Cost Through Effective IT Category Planning
Design and Build an Effective Contract Lifecycle Management Process
Maximize Value From Your Value-Added Reseller (VAR)
Drive Successful Sourcing Outcomes With a Robust RFP Process
Reduce Risk With Rock-Solid Service-Level Agreements
Slash Spending by Optimizing Your Software Maintenance and Support
Identify and Manage Financial Risk Impacts on Your Organization
Identify and Manage Strategic Risk Impacts on Your Organization
Identify and Manage Reputational Risk Impacts on Your Organization
Identify and Manage Security Risk Impacts on Your Organization
Evaluate Your Vendor Account Team to Optimize Vendor Relations
Elevate Your Vendor Management Initiative
Prepare for Negotiations More Effectively
Implement Your Negotiation Strategy More Effectively
Evaluate and Learn From Your Negotiation Sessions More Effectively
Proactively Identify and Mitigate Vendor Risk
Master the Public Cloud IaaS Acquisition Models
Essentials of Vendor Management for Small Business
Identify and Manage Regulatory and Compliance Risk Impacts on Your Organization
Identify and Manage Operational Risk Impacts on Your Organization
Don’t Allow Software Licensing to Derail Your M&A
Identify and Reduce Agile Contract Risk
Improve Your Statements of Work to Hold Your Vendors Accountable
Understand Common IT Contract Provisions to Negotiate More Effectively
Master Contract Review and Negotiation for Software Agreements
Master the MSA for Your Managed Services Providers
Negotiate SaaS Agreements That Are Built to Last
