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Establish a Sustainable Vendor Management Office
Lay the foundation for a vendor management process that is built to last.
- 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.
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.
About Info-Tech
Info-Tech Research Group is the world’s fastest-growing information technology research and advisory company, proudly serving over 30,000 IT professionals.
We produce unbiased and highly relevant research to help CIOs and IT leaders make strategic, timely, and well-informed decisions. We partner closely with IT teams to provide everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.
What Is a Blueprint?
A blueprint is designed to be a roadmap, containing a methodology and the tools and templates you need to solve your IT problems.
Each blueprint can be accompanied by a Guided Implementation that provides you access to our world-class analysts to help you get through the project.
Need Extra Help?
Speak With An Analyst
Get the help you need in this 3-phase advisory process. You'll receive 7 touchpoints with our researchers, all included in your membership.
Guided Implementation 1: Define vendor management strategy
- Call 1: Define the vendor management organization’s mission.
- Call 2: Review VMO strategic roadmap.
Guided Implementation 2: Design vendor management office
- Call 1: Map organization structure to deployment model.
- Call 2: Review vendor management staffing model.
Guided Implementation 3: Develop vendor management governance
- Call 1: Clarify value proposition.
- Call 2: Establish value metrics.
- Call 3: Launch internal roadshow.
Author
Steve Jeffery
Contributors
- Ronald Flockhart, Group Sourcing Head at FirstRand Group
- Carla Di Castro, Senior Global Sourcing Manager at Workday
- Gerry Pettit, Director IT Vendor Management at CB&I
- Evan Bortzfield, Sr. Sourcing Specialist at Riverbed Technology
- Phil Kaylor, Express Scripts
- One anonymous contributor
Related Content: Vendor Management
Search Code: 81424
Last Revised: May 17, 2019
TAGS:
VMO, Vendor management, vendor management office, vendor management process, stakeholder buy-in, vendor management governance, vendor management org design, vendor management staffing model, vendor management 101, vendor managers, vendor management core competencies, Video, Whiteboard, Whiteboard SeriesBook an Appointment
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