Vendor Management

Vendors exist to ensure the financial success of your business. Begin with Executive Approach today to get your Vendor Management function established, organized and running efficiently. Whether a department or company of small, medium or large scale, external spend with your vendors can be a giant part of your budget.

 

Vendor Management Value Creation

Structuring & Governing your vendors in a consistent and methodical approach improves:

•          Quality of vendor services

•          Budget planning

•          Software licensing efficiencies

•          Spend control

•          Hardware life-cycle planning

•          Operational priorities

•          Service risk reduction

•          Renewal planning

•          Continuity & contingency planning

•          Vendor prioritization

•          Confidence in operational management

 

 

The Challenges

A large % of budgets are spent on vendors.

•          Constant pressure to reduce costs & grow margins weighs heavily on executive team.

•          Are we using vendors to perform our business process?

•          Are we overpaying for our vendors? How do we know?

•          Are vendors putting our business at financial or legal risk?

•          Does our next fiscal year budget include the right vendors?

•          Are vendors responding immediately to our own business market shift?

•          Why aren’t we their #1 client priority?

•          Are vendors providing us market advantage or holding us back?

•          Should we outsource more or less to improve operations?

•          Are we using too many vendors?

•          Are they the absolute best vendors in the market for our business success?

•          Do we have our vendors under control or are they controlling us?

•          Where are our contracts and are they up to date?

 

Executive Approach

Here’s a peek at our Executive Approach to establishing and refining your Vendor Management business operations:

•          The Breakdown – the Vendor Management services to establish

•          How to get There

•          Organizational Considerations

•          Define detailed Roles & Responsibilities of those Involved

•          Launching Vendor Management VM Roles & Responsibilities

•          Capability Maturity Model CMM Assessment

•          Justifying Fiscal Year Budget for Improving VM Maturity

•          Projects to Execute to enable Vendor Management

•          Use Contract Templates

•          Contract Renewals

•          Recurring Business Reviews

•          Vendor Satisfaction Survey

 

Manage your business with an Executive Approach to Vendor Management.  Contact Us to begin today.