Info-Tech can help you implement a disciplined vendor management program and ensure your Vendor Management team is aligned with your organization’s strategic priorities and that your end customer receiving vendor products and services are highly satisfied.
Build Successful Relationships
Eliminate redundancy and inefficiencies surrounding the ownership of responsibilities of vendor management across departmental boundaries.
Identify Vendor Risks in Organization
Provide VM leaders with the knowledge to effectively identify vendor risk within their organization and identify mechanisms to maintain control of spend and visibility.
Establish Measures of Success
Provide clear measures of success for selecting and managing vendors ensuring relationships are valuable and aligned to the business.
Vendor Management Key Initiative Plan
Utilize our roadmap to mature your vendor management capabilities and structure. Complete each step using our world class research and advisory services with the option to accelerate the process with workshop & consulting options.
Review Top IT Contracts for Savings
Info-Tech has identified over $50 million in savings through our Contract Review process.
- Prioritize & Identify your most critical technology contracts
- Assess vendor performance and align business needs to contract
- Build negotiations strategies for each contract
- Execute best-in-class contracts tailored to fit your organization
- Drive transformational cost savings through holistic contract reviews
Improve Your Contract Negotiation Approach
IT Leaders see operations budgets reducing by 2.5% this year. Adopt our best practices to ensure you are not leaving money on the table.
- Assess current Contract Review process
- Review critical terms and conditions (T&C’s) for IT products and services
- Identify negotiation tactics for key T&C’s
- Control rising renewal costs on support agreements
- Protect your organization from vendor mandates that dictate key terms
Maximize the Value of Vendor Relationships
86% of CIOs believe IT budgets should rise this year, but they won’t. Implement a program to extract maximum value from your vendor partners.
- Map current vendor management processes and assess process maturity
- Tier and prioritize vendors and build strategic vendor partners
- Provide a framework to monitor vendor performance
- Focus your attention on critical vendors with confidence
- Validate vendor conformance and drive tangible savings
Improve your Vendor Management Maturity
Nearly all organizations experience some kind of misalignment with their vendors and business partners.
- Survey the Business Stakeholders, Vendor Management Team and key Vendor partners
- Identify gaps in alignment and benchmark against other organizations
- Build an Improvement Plan
- Understand Vendor Management maturity
- Link vendor performance to business satisfaction
Develop an Audit Defense Strategy
85% of organizations are out of compliance with their software license agreements.
- Identify “red flags” that lead to an increased probability of a vendor audit
- Build an Audit Response Team to proactively defend against vendors
- Effectively navigate the audit process
- Reduce non-compliance costs
- Enhance reputation and relationship with enterprise software vendors
Formalize Your Vendor Selection Process
Choose your partners carefully. Approximately 2/3 of companies extensively or significantly rely on third parties.
- Assess vendor sourcing and selection processes, then map to current organizational roles
- Identify shadow IT present in the business and explore mitigation
- Conduct meaningful reference checks
- Build IT-Business alignment at the earliest stages of the acquisition process
- Proper due diligence increases successful project outcomes
Build Strategic Partnerships with Critical Vendors
IT Executives identified Reactive Relationships and Poor Service Quality as primary issues with their outsourcing providers.
- Create a culture of proactiveness with critical vendors
- Define how key vendors will provide innovation back to the organization
- Establish game changing relationships with vendor executives
- Realize the benefits of a synergistic relationship with key vendors
- Build long term partners in your business
Optimize Spending with Key Vendors
43% of CIO’s overestimate the size of their next budget. Drill down with your key suppliers to calibrate spend forecasting.
- Review budget against anticipated needs and identify funding gaps
- Benchmark spend of key vendors with industry norms
- Develop a business case for budget needs
- Balance the budget against business needs in a defensible way
- Gain optimized pricing across key partnerships
Establish a Vendor Management Office
An effective VMO can yield a 10X ROI on your staffing investments in this space.
- Identify the ideal VMO structure for your organization
- Build a VMO team designed to deliver results
- Leverage your VMO to reach higher levels of Vendor Management maturity
- Drive better deals through consolidated procurement
- Build flexible contracts that focus on reducing supplier risk
Learn how to accelerate your Vendor Management projects & processes with access to our in depth tools & resourcesRequest a Demo