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